Calcium Formate Market
Calcium Formate Market (Grade: Feed Grade and Industrial Grade; and Application: Concrete & Remicon [Ready-mix Concrete] Additives, Animal Feed, Textile Dyeing & Finishing, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Chemicals & Materials
- 154 Pages
Variety of Uses in Multiple Industries Boosts Global Demand
Calcium formate is one of the numerous organometallic compounds and an additive produced to significantly enhance the qualities and properties of tile adhesives. Calcium formate has its wide uses in non-aqueous solubilities such as solar energy and water treatment applications. The availability of calcium formate is in abundance and can be conveniently bought in major volumes and bulk quantities. In a role of additives, calcium formate prolongs open time, improves adhesions, and is a highly efficient strength accelerator. The compound has various uses in several industries, which makes its demand steady in the global calcium formate market. The compound is used in many products, including adhesives and sealants, fillers, putties, plasters, modeling clay, and fertilizers. Moreover, calcium formate is also extensively used for indoor use such as in machine wash liquids, detergents, automotive care products, paints and coating or adhesives, fragrances, and air fresheners. Outdoor uses of these compounds extend to metal, wooden & plastic construction, and building materials.
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Calcium formate is presently approved for use as a preservative in feed for all animal species. However, it is not authorized as a food additive in Europe. The ruminal and intestinal contents and manure use formate as a natural constituent. The study on the tolerance with chickens and cattle for fattening by feeding the species at concentrations greater than that proposed displays no adverse effects on the safety of the species. The same studies have been proven safe on the feed for pigs, poultry, fish, and ruminants. However, the addition of calcium formate to the calcium supply of animals should be examined when formulating diets. As the use of calcium formate as a feed additive in all animal species is considered safe for the consumer, the calcium formate market is expected to grow during the forecast period.
Calcium Formate to Witness Surge in Demand Post Pandemic
The COVID-19 crisis had a major impact on almost every industry, owing to stringent worldwide regulations to contain the spread of coronavirus. The long-term effects of such a crisis are predicted to dwindle the calcium formate market during the forecast period. The ongoing research amplifies the research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. The advent of COVID-19 has confused the situation by depressing the steel agrochemical, animal feed, and others with disrupted existing supply chains. Measures introduced to deal with the crisis such as lockdowns, limited trade activities, and temporary closure of various factories and workplaces in several countries are expected to save lives. These measures proved to be a negative economic impact, influencing economic failures. Essential sections of manufacturing have been closed in various countries across the globe, in response to lockdown orders issued by authorities in such countries and the postponement of public transport services in many places across the globe.
The global industries have experienced a shortage in supply of raw materials such as formic acid, calcium hydroxide. This has resulted in a critical demand-supply gap. Producers are expected to be stranded on raw material quantities due to the limited functioning of logistics and trade. Furthermore, the growth in chemical, animal products, and utility businesses has been principally managed by efficiency profits and increased reliability. However, the disruptions caused by the pandemic have affected various end users limiting the demand for calcium formate presently, which can affect future growth. Post-COVID-19, it is expected to slowly overcome the demand gap as several end-use industries will desperately try to flatten the curve. Moreover, the increase in the demand for animal feed during the pandemic is boosting the calcium formate market during the forecast period.
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Increase in Consumption of Raw Materials in End-use Industries Propels Market Demand in APAC
The vast variety of applications of calcium formate in numerous industries such as in the leather industry as a masking agent in the chrome-tanning process, is driving the calcium formate market. The addition of calcium formate to the tannage formulation develops faster, more effective penetration of the chrome in the leather. Moreover, as an additive to grouts and cement, calcium formate allows several features useful in the final product. The addition of calcium formate is useful at low temperatures and imposes restraint of corrosion of metal substrates. When used in gypsum board, calcium formate functions as a fire retardant. Furthermore, calcium formate is ordinarily used as a component of an ensiling agent for the silage treatment. The utility of calcium formate in the silage suppresses the formation of side reaction products such as propionic acid. The growing use in the applications of leather tanning, cement additive, and silage treatment is anticipating a surge in demand for the calcium formate market during the projected period.
The calcium formate market is expected to witness heavy demand as feed additives for animals in the upcoming years. This can be attributed to the health-enhancing regulation for animal feed from various governments across the world. A healthy feed is beneficial for the animal digestive system, which has influenced the increasing demand for additives and preservatives to produce healthful growth of livestock. Additionally, the growing meat and dairy segment is increasing the demand for animals and animal feeds, generating new opportunities for the calcium formate market. In addition, the demand for meat products in the Asia Pacific has been increasing at a rapid pace with the rise in meat consuming population. The Asia Pacific is expected to be a highly lucrative region for the calcium formate market during the forecast period.
Capricious Market Behavior to Hinder Market Growth
Rising disposable income of people, reducing interest rates, and increasing migration are influencing the growth in the construction industry. This is most likely to fuel the demand for cement additives proving propitious for the global calcium formate market. However, the volatility in the prices of other raw materials in construction can possess major challenges in the calcium formate market. Furthermore, high-energy expenditure and low process performance result in increased production costs. Therefore, calcium formate manufacturers tend to look for effective options to cut down the production expense and increase profit margins. This is likely to hamper the market growth. Nevertheless, the global calcium formate market is expected to reach ~US$ 700 Mn by 2031, expanding at a CAGR of 4% during the forecast period.
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The demand for industrial-grade calcium formate has been increasing steadily. Post-COVID-19, it is expected to create lucrative opportunities for the global calcium formate market with end users attempting to flatten the expense curve. In addition, developing countries such as China, India, and Japan are growing their production with increasing consumption rates. Thus, they are most likely to be major consumers of calcium formate in the upcoming years. The growing population and meat demand in the Asia Pacific region is likely to dominate the regional segment during the forecast period.
Calcium Formate Market: Overview
- Calcium formate [Ca(HCOO)2] is the calcium salt of formic acid. It contains 69% of formic acid and 31% of calcium with low PH and neutral moisture. The molecular weight of calcium sulfate is 130.12, and it has bulk density of 72.6 lbs/ft3. It may be produced synthetically by reacting calcium oxide or calcium hydroxide with formic acid.
- Calcium formate is used as a masking agent in the chrome tanning process in the leather industry. Addition of calcium formate helps in penetration of chrome in the leather with more efficiency during the chrome tanning process. Calcium formate can also be utilized as a replacement for formic acid in the pickling operation.
- Calcium formate is added to the feed, as it inhibits the propagation of coli bacillus and other pathogenic bacteria and promotes the growth of beneficial bacteria such as lactobacillus. Thus, diarrhea caused by bacterial infection among animals is prevented.
- According to Transparency Market Research’s latest research report on the global calcium formate market for the historical year of 2020 and the forecast period of 2021 to 2031, rise in usage of calcium formate in the building & construction application segment is a key factor that is expected to boost the global calcium formate market during the forecast period
- In terms of revenue, the global calcium formate market is estimated to reach ~US$ 700 Mn by 2031, expanding at a CAGR of ~4% during the forecast period
Rise in Usage of Calcium Formate in Mining Sector: Key Driver
- Rise in consumption of calcium formate in the building & construction industry across the globe is estimated to boost the mining segment during the forecast period
- Calcium formate is widely used as concrete & remicon additives in the construction industry. It is employed as a cement additive in the construction industry to increase the strength of cement products. It is also used to improve the strength of blocks and bricks, and concrete and adhesives. Calcium formate increases the hardness of products and decreases the setting time, as compared to that required by ordinary cement. Furthermore, calcium formate helps prevent the corrosion of metals in construction activities. It is also effective in the prevention of efflorescence. Calcium formate is utilized in gypsum boards, as it has fire retardant properties.
- Calcium formate is an organic salt that is extensively employed as an additive in animal feed. It acts as a preservative in animal feed and promotes good health due to the acidifying effect on the gastro-intestinal tract of animals. Calcium formate is added to feed, as it promotes the propagation of coli bacillus and other pathogenic bacteria; and the growth of beneficial bacteria such as lactobacillus, which prevents diarrhea among animals.
Increase in Applications of Industrial Grade Calcium Formate
- Based on grade, the industrial grade segment accounted for a major share of the market in 2020, owing to the high demand for industrial grade calcium formate in various applications such as concrete setting, tile additives, and leather tanning. This trend is expected to continue during the forecast period, owing to expansion of the construction industry and increase in the demand for industrial grade calcium formate in the leather industry.
- The feed grade segment is driven by the increase in awareness about meat quality, ban on antibiotic growth promoters, and rise in feedstock production. It also includes the usage of calcium formate in silage treatment. Usage of calcium formate in silage suppresses the formation of side reaction products such as propionic acid, while promoting the formation of desirable lactic acid in anaerobic fermentation.
Rise in Applications of Calcium Formate in Concrete & Remicon (Ready-mix Concrete) Additives
- The global construction industry is likely to expand at a considerable pace during the forecast period, owing to rise in income of people, low interest rate, and high level of migration. This is projected to drive the demand for calcium formate in concrete & remicon (ready-mix concrete) additives. The segment is anticipated to dominate the market during the forecast period.
- Feed additives are used in animal nutrition to boost the quality of animal fodder. Increase in demand for superior quality meat is expected to drive the animal feed segment in the near future.
- Rise in global demand for leather in the production of footwear, apparel, accessories, automotive interiors, etc., is estimated to boost the demand for calcium formate in textile dyeing & finishing in the near future
Calcium Formate Market: Competition Landscape
- Detailed profiles of providers of calcium formate have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global calcium formate market are
- Perstorp Group
- Geo Specialty Chemicals
- American Elements
- Henan Botai Chemical Building Material Co., Ltd.
- Zibo Ruibao Chemical co., LTD.
Calcium Formate Market: Key Developments
- Key providers of calcium formate, such as Perstorp Group and Geo Specialty Chemicals, are focusing on various organic and inorganic growth strategies such as mergers & acquisitions, new product launches, strategic collaborations, expansion, and joint ventures to expand their product portfolio and business operations
- Major developments in the global calcium formate market are highlighted below:
- On April 1, 2021, Lanxess acquired Theseo Group, a leading France-based manufacturer of animal health and biosecurity solutions. This acquisition is estimated to help Lanxess to expand its product portfolio in the animal husbandry market. The new business is integrated into the company’s material protection products business unit. The Theseo Group achieved sales of around US$ 39 Mn in 2020.
- In the global calcium formate market report, we have discussed individual strategies, followed by company profiles of providers of calcium formate. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global calcium formate market.
Calcium Formate Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global calcium formate market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for expansion of the global calcium formate market in order to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global calcium formate market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global calcium formate market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global calcium formate market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global calcium formate market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (Kilo Tons).
This study covers a detailed segmentation of the global calcium formate market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global calcium formate market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Calcium Formate Market
The report provides detailed information about the global calcium formate market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global calcium formate market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global calcium formate market would emerge as major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of calcium formate?
- What would be the Y-o-Y growth trend of the global calcium formate market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global calcium formate market?
- Which grade segment is expected to create lucrative opportunities for the global calcium formate market during the forecast period?
- Which are leading companies operating in the global calcium formate market?
Research Methodology – Calcium Formate Market
The research methodology adopted by analysts for compiling the global calcium formate market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global calcium formate market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global calcium formate market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global calcium formate market.
Calcium Formate Market – Segmentation
TMR’s research study assesses the global calcium formate market in terms of grade, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global calcium formate market.