(MENAFN- EIN Presswire)
CHICAGO, UNITED STATES, November 21, 2022 /einpresswire.com / -- north america liquid calcium chloride market revenue was US$ 652.1 Mn in 2021 and the market is forecast to reach US$ 935.2 Mn by 2027, registering growth at a CAGR of 6.02% during the forecast period from 2022 to 2027. In terms of volume, the market is growing at a CAGR of 6.17% from 2022 to 2027.
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Liquid calcium chloride composes of an ionic combination of calcium and chlorine. Commercially, it can be purchased as pellets, flakes, powder, or a 30% to 45% solution in dihydrate and anhydrous form. Due to its exceptional qualities and related advantages, calcium chloride is a widely used chemical substance in several industries worldwide.
Market Influencing Factors
A rising need for liquid calcium chloride for de-icing and dust control in office buildings, pools, and highways since calcium chloride is a hygroscopic substance that reduces dust. This means that it attracts moisture from the air and surroundings, which help in increasing product shelf life. For instance, the use of calcium chloride between the road base and its surface to help extend the life of a road. Thus, this factor will contribute to the growth of the market.
Additionally, the oil & gas industry's growing demand for drilling fluid applications is likely to further fuel the market expansion. Calcium chloride is frequently utilized in oil field operations as a component of workover fluids and completion and a drilling mud additive that prevents clay hydration and boosts density.
The food industry frequently uses calcium chloride to preserve food products. Cheese, beer brewing, meat tenderization, and as a firming agent in canned vegetables and fruits are a few of the food products made with calcium chloride. Thus, the increasing use of calcium chloride as a food preservative in the food sector will drive the North America liquid calcium chloride market in the future.
The factor further fueling market growth includes the rising calcium chloride usage in the construction sector as it is the most efficient dust control agent and base stabilizer in the building industry.
Due to its low-cost pH requirements and calcium ion source for wastewater effluent treatment, the rising necessity for treating wastewater effluents drives the market's expansion. Additionally, calcium chloride is being used more frequently in agriculture through fertilizers and plant growth boosters since it contains essential micronutrients for the growth and development of healthy plants. However, the negative effects of calcium chloride, including discomfort in the bones and joints, kidney stones, and irregular heartbeats may impede the industry's development.
COVID-19 Impact Insights
The COVID-19 pandemic had a minimal impact on the market since customers drink liquid calcium chloride on a daily basis. An interruption in the supply chain is to blame for the market's slowing growth. Additionally, the global practice of lockdown and social isolation, which has halted the manufacture of calcium chloride and its processing, has had a negative impact on the expansion of this industry. Furthermore, in order to combat economic instability brought on by the virus's spread, calcium chloride costs are probably going to increase in the future compared to 2020.
Contrarily, the calcium chloride market has not seen a sharp decline in demand as it has remained mostly unchanged from before the COVID-19 outbreak as a daily consumable. Post-pandemic, this discrepancy between the product's supply and demand should help the market recover quickly. As a result of the COVID-19 outbreak and its effect on economies and industries globally, the Calcium chloride market size declined in 2020.
Segmentation Overview
In 2021, on the basis of type, the 30-35% segment acquired a North America liquid calcium chloride market share of 35% and will have the highest growth rate over the projection period.
In 2021, based on application, the de-icing segment dominated the North America liquid calcium chloride market and will grow at a compound annual growth rate of 6.47% during the analysis period. The growing use of de-icing agents in developed countries in recent years will boost the growth of the segment in the region.
In 2021, in terms of country, the United States had a leading position in the North America liquid calcium chloride market and is likely to have the highest growth of 6.24% over the analysis period due to the growing existence of production plants, developments by the leading players and the increasing demand for de-icing. For instance, in January 2021, Zirax, which manufactures specialized chemicals, signed a contract to supply 10,000 tons of calcium chloride from Russia to the U.S. market. In addition, in September 2020, Zirax announced a major agreement to supply granulated calcium chloride to the U.S. market for sales through North American retail chains.
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Key Companies
The major companies in the North America Liquid Calcium Chloride Market are:
Hill Brothers Chemical Co.
Keg River
Nedmag B.V.
Occidental Chemical Corporation
Solvay
TETRA Technologies, Inc.
Tiger Calcium
Ward Chemical Ltd.
Weifang Taize Chemical Industry Co., Ltd
Zirax Limited
Other Prominent Players
Strategies Adopted by these Companies
In January 2020, Domo Chemicals purchased the Solvay Polyamide assets that had to be sold to a third party as part of the European Commission's merger control approval procedure after Solvay and BASF signed a deal with Domo Chemicals. The deal is a crucial step in bringing Solvay's remaining Polyamides business up for sale to BASF.
In October 2019, Occidental announced the opening of its first solar installation, which will directly power a Permian Basin-enhanced oil recovery field operation. The business also revealed that starting in 2021, it had inked a long-term power purchase agreement for 109 MW of solar energy, to be used in its Permian operations through its subsidiary Oxy Low Carbon Ventures (OLCV).
In March 2018, TETRA Technologies, Inc. signed definitive contracts to transfer its plugging, offshore heavy lift, and abandonment, decommissioning, diving, cutting, and related consulting services companies and activities, and with all of maritech's related asset retirement obligations.
Segmentation Outline
The North America liquid calcium chloride market segmentation focuses on Type, Application, and Country.
Segmentation based on Type
<30%
30-35%
35-38%
Others
Segmentation based on Application
Concrete Accelerator
Animal Feed
Dust Control
De-icing
Oil & Gas
Tire Ballast
Fertilizer
Others
Segmentation based on Country
U.S.
Canada
Mexico
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