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Calcium Formate Market Analysis

  • Report ID: GMI8593
  • Published Date: Mar 2024
  • Report Format: PDF

Calcium Formate Market Analysis

Based on grade, the market is divided into industrial grade and feed grade. Industrial grade held the dominant market share of USD 400 million in 2023. Calcium formate plays a significant role across diverse industries due to its multifaceted applications. Primarily, it serves as a concrete accelerator in construction, expediting the setting and hardening process, especially in adverse weather conditions. Additionally, it finds utility as a feed additive in animal nutrition, enhancing digestion, preventing mold growth, and promoting animal health.

In construction, it improves tile adhesive properties, facilitating quicker curing and stronger bonding. Its application extends to leather tanning, where it aids in pH control and enhances tanning agent penetration for superior leather quality. Calcium formate also acts as a de-icing agent in cold climates, ensuring safer road conditions. In the oil and gas sector, it serves as a lubricant and shale stabilizer in drilling operations. Furthermore, it finds use as a fire retardant, inhibiting flame ignition and spread in various materials. With its versatile properties, industrial-grade calcium formate proves indispensable in enhancing processes and product performance across multiple industrial domains.

Calcium Formate Market Revenue Share, By Application, (2023)

Based on application, the market is categorized feed additives, tile & stone additives, concrete setting, leather tanning, textile additives, flue gas desulfurization and others. Feed additives accounted for 27% market share in 2023 and is projected to grow through 2032. Calcium salt of formic acid plays a pivotal role as a feed additive in animal nutrition. Its multifaceted functions include serving as a readily available source of calcium, crucial for bone development and muscle function.

Additionally, it acts as an effective acidifier in the gastrointestinal tract, inhibiting the growth of harmful bacteria and promoting gut health. This versatile additive also serves as a preservative, extending the shelf-life of feed by preventing mold and spoilage. Its ability to bind feed pellets enhances durability and reduces wastage during handling. Furthermore, calcium formate's antifungal properties help prevent fungal contamination of feed ingredients and products. Widely applied in poultry, swine, ruminants, and aquaculture diets, calcium formate contributes to improved growth, health, and overall performance in various animal species.

Based on end-use industry, in the calcium formate market, the segmentation based on end-user industries includes construction, animal feed, chemical, leather & textile and others. In the construction industry, calcium formate reigns supreme due to its role as a concrete accelerator, expediting setting times and bolstering early strength. It's particularly essential in cold climates, where it accelerates curing and mitigates weather-related delays. Additionally, as a corrosion inhibitor, it extends the lifespan of concrete structures, enhancing durability. Its compatibility with various concrete formulations and ease of application make it a go-to additive. Moreover, its eco-friendly profile aligns with the industry's sustainability goals, further solidifying its dominance in construction practices. With these attributes, calcium formate stands as a cornerstone in modern construction, driving efficiency and longevity in infrastructure projects.

Asia-Pacific Calcium Formate Market Size, 2021- 2032 (USD Million)

Asia-Pacific dominated the global calcium formate market in 2023. It generated a revenue of USD 240 million in 2023. The dominance of the Asia-Pacific region in the calcium formate industry stems from several key factors. Firstly, rapid urbanization and infrastructure development across countries like China and India drive substantial demand for construction chemicals, including calcium formate.

Additionally, the region's flourishing agriculture sector utilizes calcium formate extensively as a feed additive and preservative, further boosting market growth. With a large population and increasing disposable income, there's a rising demand for animal feed and processed food products, augmenting the need for calcium formate. Moreover, the presence of prominent manufacturers and favorable government initiatives for industrial growth contribute to the region's dominance. Access to raw materials and relatively lower production costs also provide a competitive edge. Overall, the Asia-Pacific region's dynamic economies and diverse industrial landscape position it as the primary hub for calcium formate production and consumption.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for calcium formate was valued at around USD 610 million in 2023 and is anticipated to register a CAGR of over 5.8% between 2024 and 2032, as it serves as a crucial ingredient in tile adhesives, improving adhesion properties and reducing setting times.

Industrial grade calcium formate segment was worth USD 400 million in 2023 and is set to gain traction through 2032, owing to its wider application scope across diverse industries due to its multifaceted applications.

Asia-Pacific market generated a revenue of USD 240 million in 2023 and is set to record notable growth through 2032, driven by rapid urbanization and infrastructure development across countries like China and India.

Chongqing Chuandong Chemical (Group) Co., Ltd., Command Chemical Corporation, Geo Specialty Chemicals, Inc., Henan Botai Chemical Building Materials Co., Ltd., Jiangxi Kosin Organic Chemical, LANXESS Corporation, Perstorp Holding AB, Shandong Baoyuan Chemical Co., Ltd., Shandong Feicheng Acid Chemicals Co. Ltd. are some of the major industry contenders.

Calcium Formate Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 532
  • Countries covered: 21
  • Pages: 300
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