Calcium Formate Market: Introduction
Transparency Market Research delivers key insights on the global calcium formate market. In terms of revenue, the global calcium formate market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global calcium formate market.
The global calcium formate market is broadly affected by several factors, including usage of calcium formate in cement and concrete admixture.
Calcium Formate Market: Dynamics
The increase in demand for calcium formate in building & construction is projected to drive the calcium formate market during the forecast period. Calcium formate is utilized as a cement additive in the construction industry, as it helps to increase the strength of cement products. It is employed to provide strength to bricks & blocks, concrete, and adhesives. Calcium formate is also used as a PH regulator. It acts as a corrosion protector, and is utilized for cementation process of drilling oil. Thus, rise in the demand for cement in the construction industry is estimated to drive the calcium formate market during the forecast period.
The expansion of the construction sector in Asia Pacific is expected to boost the demand for cement and cement-bound building materials over the next few years. This is anticipated to fuel the demand for accelerating additives such as calcium formate. Calcium formate can be employed as a substitute for calcium propionate. It can be used as an anti-corrosion and anti-mildew agent. It can replace citric acid and fumaric acid when employed as a feed acidifier.
Calcium formate is suitable for all kinds of animal feed. It is highly effective in feed digestion and absorption functions. It works as a chelating agent in digestion, thus promoting the absorption of minerals. Calcium formate is highly suitable as feed for weaning piglets. It can reduce the proliferation of intestinal microbes; enhance the level of natural metabolites; improve the feed conversion rate; prevent diarrhea; and improve the survival rate of piglets.
Calcium Formate Market: Prominent Regions
Asia Pacific is a highly lucrative region of the global calcium formate market. China is expected to hold a major share of the market in the region during the forecast period. Expansion of the construction sector and high availability of raw materials are key factors driving the demand for calcium formate in China.
Asia Pacific is anticipated to be a highly lucrative region of the global calcium formate market over the next few years driven by the escalating trends in the animal feed industry in the region.
The demand for meat products has been increasing in Asia Pacific, due to the expansion of the middle class population. Sustainability of animal diets is crucial in the development of livestock production. Furthermore, the expansion of the construction industry in the region, which has driven the demand for calcium formate in concrete & remicon additives, is projected to propel the market in the near future.
The calcium formate market in Europe is estimated to expand at a significant pace during the forecast period. The expansion of the textile sector in Italy, the U.K., and Russia is likely to boost the calcium formate market in the region in the near future.
North America is anticipated to offer significant opportunities for the calcium formate market due to the rise in the usage of calcium formate as cement additive and tile additive in the region. Calcium formate increases hardness and reduces the setting time as compared to that taken by ordinary cement. These properties are highly desirable in final products.
Calcium Formate Market: Key Players
The global calcium formate market is fragmented with the presence of a large number of players. Key players operating in the global calcium formate market are Lanxess, Perstorp Group, Geo Specialty Chemicals, American Elements, Henan Botai Chemical Building Material Co., Ltd., and Zibo Ruibao Chemical co., LTD.