Global Calcium Formate Market is valued approximately at USD 516.39 million in 2019 and is anticipated to grow with a healthy growth rate of more than 5.5 % over the forecast period 2020-2027. Calcium formate is the calcium salt of formic acid, used in tanning of leather & replacement for formic acid in the pickling operation. The market is expected to see a rise in demand for calcium formate due its application in the animal feed and construction industry. In the construction industry calcium formate is widely used as an additive in the cement to accelerate the adhesiveness in tiles and cement-based mortars. In a study by “The Transportation Research Board” it was found that addition of CF shortens the initial and final setting times and increases the compressive strength and combined water content as well as gel/space ratio at all ages of hydration. Calcium formate is also used in the production of bricks, blocks, slabs, and sheets. In addition to that calcium formate plays a vital role in maintaining the PH and providing resistance to corrosion. In the animal feed industry, calcium formate is introduced in the feed of the animals to increase the yield while minimizing the feed intake as reported by a china-based company, Shidley Chemicals. As of February 2020, LANXESS acquired Itibanyl Produtos Especiais Ltd, strengthening its position as one of the world’s leading manufacturers of antimicrobial active ingredients and formulations. However, the market of calcium formate relies heavily upon Formic acid and calcium carbonate to manufacture calcium formate, unpredictability of the prices of theseraw material will hamper the progress.
The regional analysis of global Calcium Formate Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share due to rapidly increasing consumption of calcium formate in the construction, chemicals, leather and animal husbandry and Further Europe is considered as second largest region in the growth of the market, due to heavy usage in the construction industry.
Major market player included in this report are:
Chongqing Chuandong Chemical Co. Ltd.
Geo Specialty Chemical Inc.
Zibo Ruibao Chemical Co. Ltd.
Henan Botai Chemical Building Material Co. Ltd.
Shandong Baoyuan Chemical Co. Ltd.
Jiangxi Kosin Organic Chemical Co. Ltd
Sidley Chemical Co. Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Tile & Stone Additives
Flue gas desulfurization
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Calcium Formate Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers