Calcium Formate Market Scope
Global analysis of the Calcium Formate market incorporates forecasts, market estimations and revenue generation and consumption patterns reflecting the global economy. The Calcium Formate study effectively evaluates the primary driving factors along with major restrains backed by qualitative analysis determining their influence on the fluctuating rate of demand. The market report encompasses global assessment of the global Calcium Formate market and a regional overview. The study examines the competitive nature of the global Calcium Formate market determining the restrains and crucial opportunities as well as challenges and illustratively draws the sales and profit projections along with company shares and size displayed by identified market players. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, calcium formate manufacturers, as well as recent events such as M&A activities in the market.
According to the new market research report “Calcium Formate Market by Grade, Application ( Feed Additives, Tile & Stone Additives, Concrete Setting, Leather Tanning, Drilling Fluids, Textile Additives, Flue gas desulfurization), End-use Industry, and Region – Global Forecast to 2025”, published by MarketsandMarkets™, published by MarketsandMarkets™, the Calcium Formate Market size is expected to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5% during the forecast period.
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Calcium Formate Market Key Players
- Lanxess (Germany)
- Perstorp (Sweden)
- Chongqing Chuandong Chemical (Group) Co. Ltd. (China)
- Geo Specialty Chemical Inc.(Ohio)
- Zibo Ruibao Chemical Co. Ltd. (China)
- American Elements (US)
- Henan Botai Chemical Building Material Co. Ltd. (China)
- Shandong Baoyuan Chemical Co. Ltd. (China)
- Jiangxi Kosin Organic Chemical Co. Ltd (China)
- Sidley Chemical Co. Ltd (China)
Calcium Formate Market Drivers and Restraints
Calcium formate are used across industries, such as construction, leather & textile, power generation, animal husbandry and chemicals. In the Calcium Formate Market, construction is the key end-use industry owing to the wide applications of calcium formate as concrete setting, tile & stone additive, and others in this sector.
Calcium formate is a salt that is commonly used as a feed additive for animals and as a concrete accelerator. The market for calcium formate is driven by factors such as the growing demand for animal feed additives and the increasing use of calcium formate in construction. Some of the key drivers include:
- Growing demand for animal feed additives: Calcium formate is commonly used as a feed additive for livestock, poultry, and aquaculture. As the global population continues to grow, there is an increasing demand for animal protein, which is driving the demand for animal feed additives such as calcium formate.
- Increasing use of calcium formate in construction: Calcium formate is used as a concrete accelerator, which speeds up the hardening process of concrete. This is particularly useful in cold weather conditions, where the hardening process can be slowed down. As construction activity continues to increase globally, there is a growing demand for concrete accelerators such as calcium formate.
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Some of the key restraints include:
- Stringent regulations: The use of calcium formate is regulated by various governments around the world. These regulations can limit the use of calcium formate in certain applications, which can hinder the growth of the market.
- Substitute products: There are other products available in the market that can serve the same purpose as calcium formate, such as calcium nitrate. These substitute products can limit the demand for calcium formate.
Overall, the market for calcium formate is expected to grow in the coming years, driven by increasing demand for animal feed additives and the growing use of calcium formate in construction. However, the market growth may be hindered by stringent regulations and the availability of substitute products.
The industrial grade segment is the largest grade of calcium formate.
The Calcium Formate Market has been segmented based on grade into two types namely industrial grade and feed grade. Among the two grades, the industrial grade segment accounted for the largest share of the market in 2019 and is likely to witness a significant growth during the forecast period. The demand for industrial grade calcium formate is driven by its use in numerous applications such as cement & tile additive, flue gas desulfurization agent and feed additives. Moreover, increasing use of industrial grade calcium formate in feed, construction and chemical industries is driving the global Calcium Formate Market.
The concrete setting application is expected to register the highest CAGR in the global Calcium Formate Market during the forecast period.
The Calcium Formate Market has been segmented based on application into 7 categories namely feed additives, tile & stone additives, leather tanning, concrete setting, textile additives, drilling fluids and flue gas desulfurization. The concrete setting application segment of the Calcium Formate Market is rising rapidly due to the use of calcium formate as concrete accelerator, thus increasing the strength of the cement mortar. Calcium formate is used as a concrete additive to accelerate the solidification of the concrete i.e., it decreases the setting time and increases the rate of early strength growth.
Calcium Formate Market Segmentation
- Industrial Grade
- Feed Grade
- Feed Additives
- Tile & Stone Additives
- Concrete Setting
- Leather Tanning
- Drilling Fluids
- Textile Additives
- Flue Gas Desulfurization
By End-Use Industry
- Leather & Textile
- Animal Husbandry
- Power Generation
The construction end-use industry is expected to register the highest CAGR in the global Calcium Formate Market during the forecast period.
The construction end-use industry segment is growing rapidly. This is due to the use of calcium formate as cement accelerator, production of concrete and cement based mortar, cement blocks & sheets, and other cement based products required in the construction industry. Calcium formate enhances the properties in cement such as increased hardness and less setting time, inhibition of corrosion of metal substrates and prevention of efflorescence. Thus, increasing consumption of cement in the construction industry is driving the market for calcium formate.
- North America
- Asia Pacific
- South America
- Middle East and Africa
APAC is expected to hold the largest market share in the global Calcium Formate Market during the forecast period.
APAC is estimated to be the leading Calcium Formate Market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for calcium formate from the end-use industries, especially construction, leather & textile and animal husbandry. The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these calcium formate additives in the APAC and Europe.
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