The market research for calcium formate reveals promising trends and significant growth opportunities. The market analysis indicates a steady increase in the demand for calcium formate, driven by various factors. The market size for calcium formate is projected to expand in the coming years, with a positive growth forecast. The segmentation of the market highlights key sectors where calcium formate finds extensive application. Additionally, the market research report identifies the market share of major players and examines the competitive landscape. The study explores the factors driving calcium formate market demand, such as the need for concrete accelerators and the growth of the animal feed industry. It also addresses the challenges faced by the market, including pricing dynamics and supply chain complexities. The report emphasizes the potential opportunities available in the market, such as the utilization of calcium formate in the production of dyes, paints, and coatings. Overall, the market research underscores the significance of calcium formate and its promising future in various industries.
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 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.
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.
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.
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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.
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) 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. In November 2019, PMC Group acquires of Lanxess’ Organotin Specialties Business Assets. The Business included Lanxess’ global organotin catalyst, organotin specialties and intermediates product lines.
