The global calcium chloride market is highly consolidated. The three key organizations B .J Services, OxyChem, and TETRA Chemicals held around 69.1% of the overall market share in 2015. Some more major firms leading the global calcium chloride market are The Dow Chemical Company, Weifang Haibin Chemical Co. Ltd., OxyChem, Tetra Chemicals, BJ Services Company, Solvay S.A., Tiger Calcium, Ward Chemical, Inc., Qingdao Huadong Calcium Producing Co. Ltd, Zirax Limited, Gujarat Alkalies, Nedmag, and Aditya Birla Chemicals.
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These players have improved their production capacity by working towards setting up their business all across the globe. This is how the firms have raised their sales and increased their distribution channel, to sustain their position in the market. The manufacturing of more and more products to meet the needs of several applications is one of the major strategy adopted by these firms.
According to a research report by Transparency Market Research (TMR), the global calcium chloride market is prognosticated to grow at a CAGR of 4.2% within the forecast period from 2016 to 2024. The market is estimated to attain a value of US$ 1.52 bn by the end of 2024. Based on application, the market is divided into construction, de-icing, dust control, industrial processing, drilling fluids, and so on. Among these, the drilling fluids segment is expected to hold the leading position with 24.9% of the overall market share by the end of 2024. Based on geography, the market is dominated by North America. This region is foreseen to account for 46.0% of the overall market, due to rise in demand for calcium chloride for products that are used to treat water and various other applications.
De-icing Segment to Fuel Market Demand for Calcium Chloride, Globally
The global calcium chloride market is developing due to rising usage of calcium chloride in the process of de-icing. Therefore, in nations where the after-effects of heavy snowfall are hard to oversee, calcium chloride is utilized. There are various nations using calcium chloride such as the U.S., Japan, and Canada. Dust control is another application for which the demand for calcium chloride is growing. As calcium chloride holds the moisture for a long time, it is utilized on unpaved streets for removing dust. The affordability factor of calcium chloride is major reason behind its utilization on street surfaces.
Reduced Global Revenue to Hinder Market Growth
The development of this market is likely to be limited by the lessened overall revenues because of an oversupply of cheap materials in the market, as calcium chloride can be produced utilizing different techniques. Corrosive nature of calcium chloride is another factor hampering the development of the market.
This review of the global dental laboratories market is based on a recent market research report by “Calcium Chloride Market (Product – Flakes 77%, Flakes 94%, Prills 94%, Pellets 94%, and Liquid Grade; Application – De-icing, Dust Control, Drilling Fluids, Construction, and Industrial Processing) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
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