Calcium formate is a chemical compound with the formula Ca(HCOO)2. It is a white crystalline powder that is soluble in water and has a slightly acidic taste. Calcium formate is used in various industries such as construction, animal feed, leather, and textiles.
The global calcium formate market was valued at USD 545 million in 2020 and is projected to reach USD 713 million by 2025, growing at a cagr 5.5% from 2020 to 2025. The global calcium formate industry is expected to grow steadily by 2023-2024 due to the increasing demand for the compound in the construction industry, particularly in the production of tile adhesives and cement additives. The construction industry is the largest consumer of calcium formate, accounting for more than 50% of the global demand.
Calcium formate is also used as a feed additive for livestock and poultry, as it helps to prevent diarrhea and promote growth. The animal feed industry is expected to be the second-largest consumer of calcium formate by 2024.
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The leather industry also uses calcium formate as a tanning agent, which is expected to contribute to the growth of the industry in the coming years. Additionally, calcium formate is used in the production of textiles, particularly in dyeing and printing processes.
There are several market factors that can impact the Calcium Formate Market. Some of the major factors are:
- Construction Industry: As mentioned earlier, the construction industry is the largest consumer of calcium formate, accounting for more than 50% of the global demand. Any changes in the construction industry, such as changes in government policies or economic conditions, can have a significant impact on the calcium formate market.
- Animal Feed Industry: The animal feed industry is another major consumer of calcium formate. Any changes in the demand for meat and poultry products can impact the demand for calcium formate.
- Raw Material Prices: The prices of raw materials used to produce calcium formate can impact the market. Any increase in the prices of raw materials can lead to an increase in the price of calcium formate, which can impact its demand.
- Environmental Regulations: The increasing focus on environmental regulations can also impact the calcium formate market. As the demand for environmentally friendly products increases, the demand for calcium formate as a substitute for traditional chemical additives in construction and other industries may increase.
- Competition: The calcium formate market is highly competitive, with several key players operating in the market. Any changes in the competitive landscape, such as new entrants or mergers and acquisitions, can impact the market.
Calcium Formate Market Key Players
Calcium Formate is a diversified and competitive market with a large number of global players, regional and local players. Lanxess (Germany), Perstorp (Sweden), Chongqing Chuandong Chemical (Group) Co. Ltd. (China), Geo Specialty Chemical Inc.(Ohio), and Zibo Ruibao Chemical Co. Ltd. (China), are some of the key players in the market.
“High Use of Calcium Formate in Cement and Tile Adhesives”
calcium formate is widely used in cement and tile adhesives due to its unique properties. When added to cement, calcium formate can accelerate the setting time and increase the early strength of the cement. It also helps to reduce the water content needed for the mix, which can result in higher-quality concrete.
In tile adhesives, calcium formate acts as a setting accelerator and can improve the adhesion and cohesion of the adhesive. It can also help to reduce the drying time of the adhesive, which can speed up the tiling process. The use of calcium formate in cement and tile adhesives has become increasingly popular due to its effectiveness and cost-efficiency. Its ability to accelerate the setting time and increase the early strength of cement and improve the adhesion and cohesion of tile adhesives makes it a popular choice in the construction industry.
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“Construction and Feed Additive Industries to Lead Market Growth”
The construction and feed additive industries are expected to lead the market growth for calcium formate in the coming years. The construction industry is the largest consumer of calcium formate, accounting for more than 50% of the global demand. Calcium formate is used in the production of cement and tile adhesives, which are essential components in the construction of buildings, roads, bridges, and other infrastructure projects. The increasing investments in infrastructure development, particularly in emerging economies, are expected to fuel the demand for calcium formate in this sector.
The construction and feed additive industries are expected to lead the market growth for calcium formate due to their significant demand for the compound. However, the leather and textile industries also use calcium formate in their production processes, and their growth can also contribute to the market’s overall growth.
Why is Calcium Formate Demand Increasing in the United States?
The demand for calcium formate in the United States is increasing due to the growth of the construction and animal feed industries, as well as the focus on environmental regulations.
