Calcium Formate refers to a free-flowing, odorless white crystalline solid. It is a rich source of formate and calcium ions for aqueous solutions. The global calcium formate market is estimated to expand rapidly, thanks to its augmented demand from the various end use industries.
Calcium formate finds wide use in the leather industry in the form of a masking agent in the process of chrome tanning. When calcium formate is mixed with tannage formulation, it facilitates more effective and faster penetration of chrome into the leather. The chemical also finds extensive use as a substitute for formic acid in the process of pickling.
Geo Specialty Chemicals, Inc., Henan Botai Chemical Building Materials Co., Ltd., Hangzhou Focus Chemical Co., Ltd., Shandong Baoyuan Chemical Co., Ltd., Perstorp AB, and Feicheng Acid Chemical Co., Ltd. are some of the companies profiled in the global calcium formate market.
Transparency Market Research has come up with an all-inclusive study on the global calcium formate market, for the period 2019 to 2027. The report estimates that the global calcium formate market is likely to expand at 4% CAGR. The market is estimated to reach US$ 575 Mn through 2027.
Driven by the Expansion of Leather Industry, Asia Pacific to Witness Rapid Growth
The global calcium formate market is divided into the key regions of North America, Latin America, Asia Pacific, the Middle East and Africa, and Asia Pacific. Considering geographical segmentation of the global calcium formate market, it is estimated that Asia Pacific is likely to emerge as one of the leading regions of the market over the tenure of assessment, from 2019 to 2027.
Such rapid expansion of the market is due to the presence of large leather and construction industries in the Asia Pacific. Eventually, the demand for calcium formate in the Asia Pacific regions is anticipated to remain high over the tenure of assessment. The countries of the European Union have put a restriction on the growth promoters of antibiotic in the year 2006. This ban is likely to fuel the growth of the calcium formate market in Asia Pacific. Consequently, the consumption of calcium formate in animal feeds and silage salvation has increased sharply in Europe.
Increased Demand from the Concrete and Cement Industry Spells Growth
The global calcium formate market is driven by the unique properties of the chemical, which have made it ideal for use across many industries. This compound is a calcium salt that is widely utilized in the production of formic acid, leather tanning, and concrete. The compound is less toxic and is non-hygroscopic. This compound assists in the recovery of homogeneity, pliability, and water stability, which is forecasted to boost the global calcium formate market in the forthcoming years.
Calcium formate finds extensive use in the chrome burning process that happens in the leather industry. In the leather industry, it is used as a masking agent. In addition to that, calcium formate is also utilized as an accelerator for the purpose of setting and strengthening of concrete. High demand from the cement and concrete industry is anticipated to offer ample scope for growth of the global calcium formate market over the period of assessment, from 2019 to 2027.
The information shared in this review is based on a TMR report, bearing the title, “Calcium formate market (Grade - Feed Grade and Industrial Grade; Application - Tile Additives, Feed Additives, Concrete-setting Accelerators, Leather Tanning, Drilling Fluids, Textile Auxiliaries, and Flue Gas Desulfurization Additives) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 to 2027”
The global calcium formate is segmented based on:
- Feed Grade
- Industrial Grade
- Tile Additives
- Feed Additives
- Concrete-setting Accelerators
- Leather Tanning
- Drilling Fluids
- Textile Auxiliaries
- Flue Gas Desulfurization Additives
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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