Calcium Chloride Market growing due to Importance of Asset Management in Industry
Calcium chloride is one of the vital platform chemicals in the market. Its properties make it useful in wide applications in end-user industries such as food, construction, and pharmaceutical. Calcium chloride occurs as a rare mineral, which is manufactured using basic raw materials such as limestone and hydrochloric acid. It is produced as a byproduct of the limestone-hydrochloric acid process and Solvay process.
Key applications of calcium chloride include de-icing & dust control, oil and gas, construction, and other applications such as food and medicine. The functional property of calcium chloride to decrease the freezing point of water has led to high demand in colder regions such as Norway, Finland, and Sweden. It is used as a de-icing salt to remove snow and ice from roadways and sidewalks, thus preventing accidents. Calcium chloride is also used to increase the efficiency and production of new oil and gas wells. Thus, demand for calcium chloride is high in the oil and gas industry. Construction activities and rising urbanization in developing regions such as Asia Pacific and Latin America are projected to boost demand for calcium chloride in these regions. Construction accounted for over 13% share of the global calcium chloride market in 2014.
The major driving factor of calcium chloride market is the growing demand for de-icing salt which reduces the number of accidents caused due to accumulation of snow and ice. In addition, increasing demand from the food industry is also expected to fuel demand for calcium chloride in the market. Calcium chloride is used as a preservative and as a firming agent which helps maintain firmness and arrest softness. Growth in population and hectic lifestyle of people in the developing and developed economies has increased the dependence on canned food and fruits. These the factors contributing to the growth of global calcium chloride market. However, potential applications in the agriculture sector is expected to boost market demand for calcium chloride. Moreover, rising demand from the waste water treatment industry is also expected to contribute to the growth of global calcium chloride market.
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Calcium chloride, due to its potential applications has many applications in the market. On the other hand, calcium chloride has cons too. Calcium chloride content in food and medicines should not exceed the levels stated by the Food and Drug Administration (FDA) and the EPA. Intake of calcium chloride above the levels may lead to fatal injuries. Potential side effects of calcium chloride are expected to hinder the growth of calcium chloride in the market. Hence, the regulations set by the Government is expected to be one of the factor for decline in the growth of global calcium chloride market.
North America held more than 40% share of global calcium chloride market in 2014. Demand for calcium chloride is anticipated to be high in the region owing to high demand for de-icing salt. Asia Pacific is estimated to be the fastest growing region in the global calcium chloride market during the forecast period. China and India are the major consumers of calcium chloride due to high demand in end-user industries such as food, oil & gas, and pharmaceuticals. Europe is projected to expand at a moderate rate during the forecast period due to regulations imposed on the usage of calcium chloride.
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The global calcium chloride market is moderately concentrated, with the top five players accounting for more than 60% share in 2014. Key players operating in the calcium chloride market include BJ Services Company, Occidental Chemical Corporation (OxyChem), Qingdao Huadong Calcium Producing Co. Ltd., Solvay., Tangshan Sanyou Group, TETRA Chemicals (Tetra Technologies, Inc.), Tiger Calcium Services Inc., Ward Chemical,, Weifang Haibin Chemical Co., Ltd., Weifang Taize Chemical Industry Co., Ltd, and Zirax Limited.
Table of Content
2. Executive Summary
3. Calcium Chloride Market – Industry Analysis
4. Calcium Chloride Market – Raw Material and Price Trend Analysis
5. Calcium Chloride Market – Application Analysis
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