In terms of volume, the global calcium chloride market stood at XX kilo tons in 2016 and is expected to reach XX kilo tons by 2023, expanding at a CAGR of 3.7% from 2017 to 2023. In terms of revenue, the global calcium chloride market was valued at US$ XX Mn in 2016 and is anticipated to reach US$ XX Mn by 2023, expanding at a CAGR of 4.6% from 2017 to 2023.
Rising demand for calcium chloride in the de-icing and dust control application is driving the calcium chloride market. The property of calcium chloride to decrease the freezing point of water has led to its high demand. This makes calcium chloride applicable as deicer for the removal of snow and ice on driveways, walkways, and sideways. The compound is also used as a dust control agent; it prevents dust on roads from mixing with the air, thereby reducing pollution. Considering the factors mentioned above, demand for calcium chloride in the de-icing application is anticipated to expand significantly, especially in the U.S., in the near future.
Calcium chloride is also used in the oil and gas industry. It is employed in applications such as drilling fluids and completion fluids. Demand for calcium chloride is also estimated to rise in the construction industry owing to its application in concrete and cement. The compound is used in the food industry as a food additive and preservative for preserving canned food and keeping it fresh for a longer duration. Led by wide applications, the calcium chloride market is likely to experience significant growth in the near future.
North America accounted for the largest share of XX% of the global calcium chloride market in 2016. Calcium chloride is used in high quantities as de-icer for the removal of ice and snow in the region. Therefore, North America is expected to be the largest and second-fastest growing market for calcium chloride in the near future. Europe held XX% share of the global calcium chloride market in 2016.
Asia Pacific constituted 30.6% share of the global calcium chloride market in 2016. The region is anticipated to be the second-largest and fastest growing market for calcium chloride in the near future. Growth in end-use industries such as construction in Asia Pacific is anticipated to boost demand for calcium chloride in the region. Demand for calcium chloride is also likely to rise in Latin America and Middle East and Africa in the near future.
Key players in the calcium chloride market include TETRA Technologies, Inc., Occidental Petroleum Corporation (OxyChem), Keg River Chemical, Zirax Ltd., Qingdao Huadong Calcium Producing Co., Ltd, Tangshan Sanyou Group, Solvay S.A., and Qingdao Haibin Chemical Company Ltd. The calcium chloride market is highly concentrated, with the top six companies accounting for more than 60% of the global market in 2014. Currently, major companies are focusing on backward integration to overcome volatility in prices of raw materials and lack of availability of raw materials in order to gain competitive advantage over other key players.