GCC Calcium Chloride Market Size to Hit US$ 45 Million by 2028 | With a 3.7% CAGR
The latest report by IMARC Group, titled "GCC Calcium Chloride Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The GCC calcium chloride market size reached US$ 36 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 45 Million by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
Factors Affecting the Growth of the GCC Calcium Chloride Industry:
- Expanding Oil and Gas Industry:
Calcium chloride is extensively used in the oil and gas sector for desalination and dehumidification processes. In the arid Gulf region, where water scarcity is a challenge, desalination is a critical process in the production of fresh water for industrial use and human consumption. Calcium chloride is employed to remove impurities and moisture from saline water sources, making it a vital component of desalination plants. Another significant application of calcium chloride is in drilling fluids used in oil and gas exploration. Calcium chloride is added to drilling muds to control wellbore stability, prevent clay swelling, and enhance drilling efficiency. The GCC region is a major player in the global oil and gas industry, and the continuous drilling activities in this region drive the demand for calcium chloride.
- Product Adoption in Various Industries:
Calcium chloride is used in the production of several industrial chemicals, including calcium-based salts like calcium sulfate and calcium carbonate. These chemicals have diverse applications in various industries, including construction, agriculture, and water treatment. It also finds application in the pharmaceutical industry for various purposes, such as a drying agent, a source of calcium in medications, and as an ingredient in pharmaceutical formulations. Besides, in the chemical manufacturing industry, water treatment processes often require calcium chloride for the removal of impurities and adjustment of water chemistry.
- Construction and Infrastructure Development:
Calcium chloride is widely employed as a concrete accelerator in the construction industry. It speeds up the setting and curing of concrete, allowing for faster construction and reduced project timelines. In the GCC region, where rapid infrastructure development is a common sight, calcium chloride plays a crucial role in meeting construction deadlines. Besides, the GCC countries are continually expanding their infrastructure, including airports, seaports, highways, and urban development projects. Calcium chloride's contributions to construction speed and quality make it an essential component in these ambitious ventures.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/gcc-calcium-chloride-market/requestsample
GCC Calcium Chloride Market Report Segmentation:
- By Application:
De-icing represented the largest segment as GCC countries are investing heavily in expanding their transportation networks, including highways and airports. With the construction of extensive road systems and runways, the need for de-icing agents to manage icy conditions during rare cold weather events has increased.
- By Product Type:
Hydrated solid products accounted for the largest market share as they are relatively easy to handle compared to other forms such as liquid solutions or anhydrous calcium chloride.
- By Raw Material:
Natural brine represented the largest segment as extracting calcium chloride from natural brine sources is often more cost-efficient compared to other methods.
- By Grade:
Industrial grade holds the largest market share as it is versatile and finds extensive use across various industries, including oil and gas, chemicals, construction, manufacturing, and agriculture.
- By Country:
On the basis of the country, the market is divided into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=5540&flag=C
GCC Calcium Chloride Market Opportunities:
The chemical manufacturing sector in the GCC is growing, and calcium chloride is a key ingredient in various chemical processes. Opportunities exist for calcium chloride suppliers to cater to the needs of this expanding industry, including the production of pharmaceuticals, specialty chemicals, and industrial chemicals.
Besides, calcium chloride is used in agriculture for soil conditioning and as a source of calcium for plant growth. The GCC region's agricultural sector, although challenged by arid conditions, can benefit from calcium chloride applications. Research and development in agriculture-related calcium chloride products can unlock opportunities for growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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