Calcium Chloride Desiccant Market Size, Share, Growth, And Industry Analysis, By Type (Above 100g, 100-1000g, Below 1000g), By Application (Shipping Container, Furniture and Home Furnishings, Clothing and Textile, Electronics, Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 July 2024

Calcium Chloride Desiccant Market Report Overview

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The global calcium chloride desiccant market size was USD 120.7 million in 2022 and is expected to reach USD 158.8 million in 2031, exhibiting a CAGR of 3.1% during the forecast period.

Calcium chloride desiccants are highly specialized drying agents that extract moisture from a variety of materials. Because of their compound properties, they either are solvents or rather insoluble substances that absorb moisture. Calcium chloride desiccants are employed to protect the components of a sealable bag from moisture damage. This is why many sealed products include a parcel of silica gel and many other desiccant materials. These desiccants can digest a substantial amount of moisture and hold a significant proportion of their mass in moisture. Calcium chloride desiccants are also employed in more modern applications like moisture removal, waste disposal and cleanup, and regenerative drying.

COVID-19 Impact: Interruption in Supply Chains to Decline Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with calcium chloride desiccant experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The recent coronavirus outbreak had a detrimental effect on the working of calcium chloride desiccants market. The serious disruptions in various supply-chain and manufacturing operations caused by different preventative lockdowns enacted by governments to combat disease spread result in massive financial losses for the market. As a consequence of the COVID-19 disease outbreak, the manufacturing of electronics components has been stalled due to a logistics activities constraint and a global shortage of manpower.

The COVID-19 pandemic had resulted in the partial or complete shutdown of chloride desiccant end-use industries. Furthermore, due to the shutdown implemented throughout various countries, domestic and international transportation was hindered in 2020, but some countries have begun vaccination drives, positively impacting the supply chain of calcium chloride desiccant market.

The aforementioned factors will have an impact on the calcium chloride desiccant market income trajectory over the forecast period. On the plus side, as COVID cases decline, the calcium chloride desiccant market share is expected to revitalize as personal regulatory authorities begin to unwind these enforced lockdowns. The suspended and forced to cancel operations will continue, and the market is expected to expand as a result. As a result, the industry will recover and grow following COVID.

Latest Trends

"Liquid Crystal Device to Intensify Market Magnification "

Although the glass substrate, polarizer, and filter lens comprising in a liquid crystal device such like liquid crystal displays are cleaned and dried during the manufacturing process, they are still impacted by humidity after cooling, reducing product yield. As a result, in a dry climate where the moisture should be 40% less than after cleanup and drying, the chemical is used within the product or carton. Therefore, liquid crystal device is going to boost up the calcium chloride desiccant market growth.

Calcium Chloride Desiccant Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into above 100g, 100-1000g, below 1000g

Above 100g, is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into shipping container, furniture and home furnishings, clothing and textile, electronics, others

Shipping container is the leading part of the application segment

Driving Factors

"Packaging Industry to Boost Market Share "

The chemical demand is increasing in the packaging industry, particularly in food and pharmaceutical packaging. Electronics manufacturers are striving to minimize the moisture effect on their products, which will lead to an increase in desiccant demand in the future. Furthermore, the increased utilization of desiccants in the chemical industry and even in air conditioning equipment is expected to drive the desiccants market.

"Silica Gel Segment to Aid Market Forwarding"

The silica gel segment is projected to expand at a 4.3% CAGR over the forecast period, while the activated alumina category is expected to grow at a 7.1% CAGR over the forecast period. Silica gel is widely used in various industries such as electronics, pharmaceuticals, and packaging.

Restraining Factors

"Increment in Machines and Setup Cost to Deplete Market Advancement "

However, the cost of setting up machines and equipment to generate desiccant is indeed very significant and needs constant maintenance, so an increment in machines and equipment setup cost raises the cost of desiccant production. This, in turn, raises the cost of the end user. As a result, the desiccant market growth is stifled.

Calcium Chloride Desiccant Market Regional Insights

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"Growing Population to Foster Market in North America and Asia Pacific "

North America dominates the calcium chloride desiccant market and accounts for 27.7% of the market and is expected to grow at a CAGR of 4.5% even during forecast period.

Furthermore, Asia Pacific is second largest shareholder. It the fastest growing segment, with a CAGR of around 6.2% over the forecasted period. The Asia Pacific region's growing population has increased food demands and electronics, which will drive up prices for desiccant in the region.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Clariant (Switzerland)
• Super Dry (England)
• Absortech (Sweden)
• Chunwang (China)
• Dongguan Dingxing Industry Co., Ltd. (China)
• Shanghai Yixuan Dry Agent Co., Ltd. (China)
• Xinzheng Jiufan Desiccant Factory (China)
• Aquadry (India)
• FUJIGEL SANGYO (Japan)
• Shenzhen Minghui Antibacterial Technology Co., Ltd. (China)
• Dongguan Chengfeng Packaging Material Co., Ltd. (China)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding healthcare. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.