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Albany, New York, April 08, 2019 (GLOBE NEWSWIRE) -- The global calcium chloride market depicts a competitive and fragmented landscape undergoing stable growth, reports Transparency Market Research (TMR). The market is expected to offer various opportunities for growth in the near future, thanks to new applications, adds TMR. Major players in the market are seeking new opportunities in emerging markets and engaged in numerous collaborations to grow their footprints. Main players in the global calcium chloride market are Occidental Petroleum Corp., TETRA Chemicals, B. J. Services Company, Solvay SA, and Tangshan Sanyou Group.
Major players in the global calcium chloride market are engaging in backward incorporation. This strategy is aimed at improving the availability of raw materials for cost-efficiency. Limited shelf life of the product and numerous applications have resulted in instable supply in the past. Hence, key players in the market are taking all precautions to ensure growth in the booming calcium chloride market.
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The global calcium chloride market is expected to register a steady CAGR of 4.4% during 2018-2026. The market is driven by growing demand calcium chloride flakes. Increasingly erratic climate changes, recent icy wave in several parts of the US, and continuing threat of changing climatic conditions drive the already dominant product in the market. Flakes held a 77% of the total revenue share in 2017.
Asia Pacific region is expected to register robust growth in the global calcium chloride market. The region driven by increasing construction activity and home to large manufacturers in the market is likely to grow at 4.0% CAGR during 2018-2026. North America and Europe are likely to lead market growth due to large share of total revenues by calcium chloride prills globally.
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Food Packaging Industry Promises Rewarding Opportunities for Market Growth
Anhydrous calcium chloride was recently approved by the FDA for packaging. The substance ensures dryness in food packaging, which is essential for various food items and delivery logistics. It is likely to result in lower erroneous deliveries due to lower spillage and less consequent damages. Additionally, rising trends such as eating out and widespread availability of fast food chains are driving the growth of the food and beverage industry. Hence, increase in demand in food packaging and expanding logistics of home-delivery food systems are expected to drive growth of the calcium chloride market in the near future.
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Wastewater Treatment to Drive Revenue Growth of Calcium Chloride Market
Wastewater treatment is a major area of concern for various industrial sectors. It not only results in wastage but lack of treatment can result in large liabilities for manufacturers. On the other hand, products from the calcium chloride market, when dissolved with waste water can react with several impurities to turn them into insoluble salts. These impurities usually include fluorides, phosphates, heavy metals, silicates, and sulfates. Additionally, this wastewater treatment is usually extremely cost effective for end-players as compared to alternatives. Calcium chloride products are increasing used in agriculture as well for wastewater treatment. Advancements in technology have enabled manufacturers to conduct these operations indoors leading to more cost-savings. The growing demand for waste water treatment solutions and cost-effectiveness of calcium chlorides are expected to drive the market in the near future.
The global calcium chloride market also faces some uncertainties. There is a growing awareness about the side-effects of calcium chloride products including kidney stones and irregular heartbeats among several others. However, the calcium chloride market is expected to register stable growth due to growing icy conditions in developed countries.
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This review is based on a TMR report, titled “Calcium Chloride Market (Type - • Flakes 77%, Flakes 94%, Prills 94%, Pellets 94%, Liquid Grade, Others (Flakes 83%-87%, Pellets 90%, Powders 90%, etc.); Application - De-icing, Dust Control, Drilling Fluids, Industrial Processing, Construction, Others (Tire Weighing, Water Management, Food, etc.) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.”
The report segments the global calcium chloride market as:
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