Press release
Global Calcium Formate Market to be Driven by the Construction Industry in the Forecast Period of 2021-2026
Calcium Formate Market
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2020)
• Historical Market Size (2020): USD 536 million
• Forecast CAGR (2021-2026): 5.2%
• Forecast Market Size (2026): USD 729 million
Calcium formate is widely used as cement additive and concrete accelerator, tile adhesives, and cement ground mortars. The rising consumption of cement from the construction industry effectively boosts the demand for calcium formate market. Cement is used in the production of various products including bricks and blocks, slabs and sheets, adhesives, and concrete.
The product is mostly used in the manufacturing of concrete in China which is among the most dominant regions in the production and consumption of cement. Thus, the rising demand of cement in the construction industry is boosting the demand for calcium formate.
Industry Definition and Major Segments
Calcium formate is used across various industries as a cement additive in the construction industry for quick setting and increasing hardness for products of cement.
Calcium formate is utilized as PH regulator, inhibitor corrosion defender to substratum of buildings and infrastructure, and for cementation of oil drilling.
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Calcium formate can be divided on the basis of grade into:
• Feed Grade
• Industrial Grade
On the basis of application, calcium formate can be segmented into:
• Feed Additive
• Lather Tanning
• Textile Additive
• Concrete-Setting Accelerators
• Flue Gas Desulphurisation
• Drilling Fluids
• Others
The regional markets for calcium formate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
Calcium formate has been quick replacing calcium chloride as a setting-accelerator within the construction industry, considering its key attributes such as preventing corrosion in steel reinforcements, reinforcing strength of cement mortar.
The significant rise in the construction and infrastructure development activities in developing economies, continues to sustain the demand for calcium formate.
The demand for calcium formate as feed additives is projected to witness a remarkable rise in the forecast period, as governments of various countries implement regulations on health enhancers used in animal feed.
The use of nutrition rich feed benefits the digestive health of the animals. This has guided the adoption of additives and preservatives to attain healthy growth of livestock. Moreover, increasing consumption rate of meat and poultry products has boosted the demand for livestock, which creates opportunities for the producers of calcium formate.
Key Market Players
The major players in the market are Lanxess AG, Huanghua Pengfa Chemical Co., Ltd, Perstorp Holding AB, GEO Specialty Chemicals, Inc, Shandong Baoyuan Chemicals Co., Ltd., and Jiangxi Kosin Frontier Technology Co., Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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