Rise in Use of Hydrogen Gas as Clean Source of Energy in Various End-use Industries to Drive Calcium Hydride Market, States TMR
- The calcium hydride market is anticipated to reach the value of US$ 1 Bn by 2030. Increased use of hydrogen across varied industrial sectors is projected to fuel sales opportunities in the global market.
- Rapid growth of the regional chemical industry is expected to help Asia Pacific in maintaining its dominant position in the market
ALBANY, N.Y., Sept. 15, 2021 /PRNewswire/ -- Calcium hydride is one of the most prominent hydride compounds that are widely used in varied applications. Increased product application in different end-use industries is likely to promote growth of the global calcium hydride market during the forecast period of 2020–2030.
Calcium hydride finds application as a drying agent in gases and liquids. Similarly, it is widely utilized as a reducing agent for different metal oxides. Refining, chemical, food, metal, glass, energy, and electrical & electronics are some of the prominent end-use industries of calcium hydride.
As per a report by Transparency Market Research (TMR), the global calcium hydride market is expected to expand at a CAGR of 4.5% during the forecast period.
Growing Hydrogen Adoption as Clean Source of Energy Boosts Growth Opportunities
Hydrogen is gaining traction across diverse industrial sectors as a clean source of energy. As calcium hydride is widely used in hydrogen production activities, the demand for hydrogen is expected to create lucrative opportunities for the players in the calcium hydride market during the forecast period.
Increased Focus on Decarbonizing to Boost Demand for Calcium Hydride
With increased regulatory pressure by government authorities across many countries worldwide, companies engaged in different industry verticals are concentrating on the reducing carbon emission levels. Thus, the demand for hydrogen gas is projected to increase, which, in turn, will create sales opportunities in the calcium hydride market.
Calcium Hydride Market: Growth Boosters
Expanding battery applications, developments in the fuel cell technology, and strides taken in hydrogen storage research are some of the key factors fueling market growth. Moreover, increased demand for sustainable and green energy production solutions is likely to boost market growth in the near future.
Calcium hydride is used in the production of various metals such as niobium, titanium, and uranium. Growing demand for these metals is impacting the growth of the market positively.
Increased use of hydrogen gas in different industrial applications, including manufacturing of methanol and ammonia, is projected to generate high demand for calcium hydride in the upcoming years
Rise in utilization of calcium hydride in the oil refining industry as a cleaner for blocked oil wells will create prominent growth avenues for market players
Asia Pacific is expected to maintain its dominant position in the near future owing to factors including growing use of calcium hydride as drying and reducing agent in the regional chemical industry
Players in the global calcium hydride market are increasing focus on improving their marketing strategies to gain prominent position. In addition, they are strengthening their distribution channels.
Several market players are growing efforts toward advancing the quality of materials used in experimental and industrial applications. Besides, many players are aiming at reducing their overall production costs. All these efforts are likely to work as drivers for the global calcium hydride market during the forecast period.
Calcium Hydride Market: Key Players
The report profiles key players operating in the calcium hydride market. Thus, the research document provides all important data, including company overview, product portfolio, financial overview, recent developments, and business strategies of each player in the market.
Some of the key players profiled in the report on calcium hydride market are:
Others (including Cleaner for Blocked-up Oil Wells)
Calcium Hydride Market, by Region
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & MaterialsIndustry:
Calcium Formate Market - The increase in demand for calcium formate in building & construction is projected to drive the calcium formate market during the forecast period. Calcium formate is utilized as a cement additive in the construction industry, as it helps to increase the strength of cement products. It is employed to provide strength to bricks & blocks, concrete, and adhesives. Calcium formate is also used as a PH regulator. It acts as a corrosion protector, and is utilized for cementation process of drilling oil. Thus, rise in the demand for cement in the construction industry is estimated to drive the calcium formate market during the forecast period.
Calcium Carbide Market - The rise in the demand for calcium cyanamide has been identified as one of the key calcium carbide market trends. Calcium cyanamide is a nitrogen-based fertilizer used in the agriculture industry to protect crops from a wide range of harmful insects and weeds. Calcium cyanamide also helps in preventing yield and quality losses during tight crop rotations. Thus, increase in demand for calcium cyanamide is boosting the global calcium carbide market.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.