Calcium Formate Market is Anticipated to Witness Steady Growth Owing to Rising Demand from Construction Industry

Calcium formate is an inorganic salt that has a variety of applications across multiple industries such as construction, oilwell drilling, de-icing, leather tanning among others. As a construction chemical, calcium formate is used as an additive in concrete to accelerate the setting and hardening process. It allows for early stripping of formworks and early opening to traffic. This provides significant advantages in terms of cost and time savings. Calcium formate is also used as a reducing agent that prevents corrosion in oil well drilling operations. The rising construction activities along with growing oil & gas exploration projects are fueling the demand for calcium formate globally.

The Global calcium formate market is estimated to be valued at US$ 860 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the calcium formate market are SIDLEY CHEMICAL CO., LTD., Zouping Fenlian Biotech Co., Ltd., American Elements, Wujiang yingchuang chemical co., ltd., Minerals Technologies Inc., Cerne Calcium Company, LANXESS, Perstorp Holding AB, Chongqing Chuandong Chemical (Group) Co. Ltd., Zibo ruibao chemical Co., LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co. Ltd, Jiangxi Kosin Frontier Technology Co., Ltd.

The rising construction activities worldwide present lucrative opportunities for calcium formate manufacturers and suppliers. Development of green buildings using eco-friendly materials is expected to drive the Calcium Formate Market Demand. Key calcium formate producers are focusing on expanding their global footprint by strengthening distribution networks across major markets like North America, Europe and Asia Pacific. Manufacturers are also investing in R&D to develop novel applications of calcium formate to cater to the diverse needs of end-use industries.

Market Drivers

One of the key drivers for calcium formate market is the growth of the construction industry globally. There is rising focus on infrastructure development projects such as roads, bridges, commercial buildings, dams etc. which demands concrete in large volumes. Calcium formate improves certain properties of concrete like setting time, early strength gain and durability.

Market Restrains

Availability of substitutes is a major challenge for calcium formate market. Alternatives commonly used in construction include calcium chloride and naphthalene sulfonate formaldehyde. These substitutes perform similar functions as calcium formate but are more cost effective. This poses a threat to the demand and sales volume of calcium formate.

Segment Analysis

The Calcium Formate Market Regional Analysis is dominated by silage and animal feed applications accounting for over 60% of the total market share. Calcium formate is commonly used as an animal feed preservative and silage additive due to its characteristic of lowering pH, improving fermentation and nutrient value retention. This helps effectively prevent spoilage and growth of harmful bacteria and fungi in animal feed products. As demand for animal feed and meat production increases globally, consumption of calcium formate as a preservative will also rise significantly.

Cement additives represent another prominent segment occupying around 20% share. Calcium formate finds widespread application as an additive during cement manufacturing. It helps control setting time and acts as a retarding agent. With ongoing infrastructure development activities worldwide, cement production volumes are expanding rapidly thereby boosting demand from this segment.

Global Analysis

Regionally, Asia Pacific is expected to remain the dominant as well as the fastest growing market for calcium formate during the forecast period. Countries such as China, India, Japan and South Korea are experiencing rising meat consumption coupled with increasing livestock holding. This is driving massive usage of calcium formate as a preservative in animal feed applications. Asia Pacific also accounts for over half of the global cement production, thus cement additives offer lucrative opportunities. Europe and North America hold major shares as well due to well established agriculture, meat and construction industries. However, these regions are anticipated to witness relatively slower development than Asia between 2024-2031

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Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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