Calcium Formate is a salt of formic acid and calcium. It is a white crystalline powder with a slightly acidic taste and is used in a variety of applications such as construction, feed, and leather industries. The demand for Calcium Formate is primarily driven by the construction industry, as it is used as a setting accelerator for cement and concrete.
The global calcium formate market size is estimated to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5% during the forecast period. The report studies the latest updates in the market, along with their impact across the market. It also analysis the calcium formate market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The global Calcium Formate market is expected to experience growth in the coming years due to increased construction activities in emerging economies, such as China and India. The feed industry is also expected to contribute to the growth of the Calcium Formate market, as it is used as a feed additive to improve animal health and growth.
Some upcoming trends in the Calcium Formate industry may include increased use in the leather industry, as it is used as a tanning agent, and in the pharmaceutical industry, as it has potential applications in drug delivery and as a preservative. Additionally, the development of sustainable and eco-friendly Calcium Formate production methods may become a significant trend in the future.
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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), and 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) and Sidley Chemical Co. Ltd (China) among others are the leading calcium formate manufacturers, globally.
Lanxess (Germany) is the largest player in the market. In February 2020, LANXESS completed the acquisition of Itibanyl Produtos Especiais Ltda. (IPEL). With the acquisition, LANXESS is strengthening its position as one of the world’s leading manufacturers of antimicrobial active ingredients and formulations.
Perstorp (Sweden) is ranked second in the calcium formate market. In November 2019, Perstorp, invested in the construction of a new Pentaerythritol (Penta) production facility in Gujarat, India.
“The industrial grade segment is the largest grade of calcium formate”
The industrial grade segment is currently the largest grade of Calcium Formate. This is because the primary applications of Calcium Formate are in the construction and feed industries, which require high-purity Calcium Formate. Industrial grade Calcium Formate typically has a purity of around 98%, making it suitable for these applications.
The construction industry uses Calcium Formate as a setting accelerator for cement and concrete. It improves the setting time and strength of the concrete, making it ideal for use in construction projects. The feed industry uses Calcium Formate as a feed additive to improve animal health and growth.
There are other grades of Calcium Formate available as well, such as food grade and pharmaceutical grade. These grades have higher purity levels and are suitable for use in food and pharmaceutical applications. The food industry uses Calcium Formate as a preservative and acidity regulator, while the pharmaceutical industry is exploring potential applications of Calcium Formate in drug delivery.
“The concrete setting application is expected to register the highest CAGR in the global calcium formate market”
The concrete setting application has traditionally been one of the primary drivers of growth in the Calcium Formate market. Calcium Formate is commonly used as a setting accelerator in concrete and cement applications, improving the setting time and strength of the concrete. As the global construction industry continues to grow, the demand for Calcium Formate in the concrete setting application is expected to increase.
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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.
“APAC is expected to hold the largest market share in the global calcium formate market”
The APAC region has been experiencing significant growth in the construction and feed industries, which are major consumers of Calcium Formate. Additionally, the region has a large population and a growing middle class, which has been driving demand for high-quality and nutritious animal feed. This, in turn, has led to an increase in the use of Calcium Formate as a feed additive.
The increasing demand for sustainable and eco-friendly building materials in the construction industry is likely to further drive the growth of the Calcium Formate market in the region. As a result, several Calcium Formate manufacturers have been expanding their production capacities in the APAC region to cater to the growing demand.