The global calcium chloride market depicts a focused and divided scene experiencing stable development, reports Transparency Market Research (TMR). The market is relied upon to offer different open doors for development soon, on account of new applications, includes TMR. Significant players in the market are looking for new open doors in developing markets and occupied with various coordinated efforts to develop their impressions. Primary players in the worldwide calcium chloride market are Occidental Petroleum Corp., TETRA Chemicals, B. J. Administrations 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.
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.
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.
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.