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Calcium Hydride Market Gains Profitable Prospects with Rising Popularity of Hydrogen as Clean Source of Energy.

WILMINGTON, DELAWARE, UNITED STATES, July 28, 2022 /EINPresswire.com/ -- The global calcium hydride market is estimated to register growth at a CAGR of 4.5% during the forecast period, 2020-2030, notes a study by Transparency Market Research (TMR).

Players operating in the global calcium hydride market are increasingly focusing on strengthening their capacities for the development of dependable, compact, cost-effective technologies for the delivery and storage of hydrogen. Such efforts are likely to result into profitable prospects, notes sales forecast on calcium hydride.

The calcium hydride market in Asia Pacific is prognosticated to maintain its prominent position during the forecast period. This market growth can be ascribed to factors such as presence of a sturdy chemical industry, rise in demand for hydrogen from regional industries, and increase in use of calcium hydride as drying and reducing agent in the region, notes the TMR report on the calcium hydride market.

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Calcium Hydride Market: Key Findings

With growing environmental concerns, various companies across the globe are increasing efforts to incorporate changes in their operations in order to decrease pollution. For instance, several enterprises from developing nations are increasing the demand for hydrogen, as it is non-polluting in nature. Since calcium hydride finds key application in the production of hydrogen, rise in its demand is expected to drive the calcium hydride market in the upcoming years, state analysts at TMR. Moreover, analysts highlight that the market for calcium hydride is expected to gain the valuation of US$ 1 Bn by 2030.

Hydrogen gas is increasingly being utilized in different industrial applications, including production of methanol and ammonia. Hence, increase in use of hydrogen gas is projected to result into future market demand for calcium hydride. Besides, calcium hydride is being used in the oil refining industry as a cleaner for blocked up oil wells. This factor demonstrates the demand scope of the calcium hydride market from the oil refining industry.
In addition to its wide use in hydrogen production, calcium hydride also finds application as a desiccant chemical. Furthermore, it is prominently utilized in the development of varied metals such as zirconium, chromium, and titanium. Such a broad range of applications is estimated to generate promising growth opportunities for the calcium hydride market players in the forthcoming years.

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Calcium Hydride Market: Growth Boosters

Rise in demand for hydrogen across various industries as a clean source of energy is resulting in profitable opportunities in the global calcium hydride market

Increase in product use as a drying agent for gases & liquids and reducing agent is anticipated to generate prominent business opportunities in the calcium hydride market

Calcium Hydride Market: Competition Landscape

Companies operating in the global calcium hydride market are focusing on using next-gen marketing strategies in order to maintain their market position
Several market players are strengthening their distribution channels in order to ensure easy availability of their products across different regions
Leading players in the global calcium hydride market are increasing efforts to provide quality products to end users. Hence, they are seen investing heavily in R&D activities and product innovations.

Calcium Hydride Market: Key Players

Some of the key players profiled in the report are:
• Materion Corporation
• Albemarle Corporation
• Anhui Wotu Chemical Co., Ltd.
• SHINYA CHEM
• Spectrum Chemical Manufacturing Corp.
• Noah Technologies Corporation
• Strem Chemicals, Inc

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Calcium Hydride Market Segmentation
Purity
• ≤ 99%
• Above 99%

Application
• Hydrogen Generation
• Reducing Agent for Metal Oxides
• Drying Agent
• Others (including Cleaner for Blocked-up Oil Wells)

Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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