According to the Fortune Business Insights report, titled “Calcium Formate Market Size, Share & Industry Analysis, By Type (Feed Grade, Industrial Grade), By Application (Feed, Construction, Leather, Chemical, and Others), and Regional Forecast, 2019-2026”, the market was valued at USD 451.2 Million in 2018. The report also contains an in-depth analysis and evaluation of the factors, trends, and dynamics that will influence the market in the forecast period. Besides this, it provides a thorough research based on which businesses can formulate their strategies to excel in this market.
The global calcium formate market size is set to touch USD 627.1 million by 2026, registering a CAGR of 4.2% during the forecast period. Rapid expansion of construction industry around the globe will be the primary driving force behind the growth of this market. According to a study published by Oxford Economics, the global construction industry is expected to grow at about 3.9% annually till 2030, with majority of this growth slated to occur in the three major economies of the US, China, and India, accounting for nearly 57% of the growth. Furthermore, the study reveals that output from construction will increase by a staggering 85% in the next decade at a value of around USD 15.5 trillion by 2030. Calcium formate is an integral component in the production of concrete and cement-based products. Thus, with the expected rise in construction activities around the world, the demand for the compound will rise correspondingly.
List of Best Companies Operating in the Calcium Formate Market are;
- Chongqing Chuandong Chemical (Group) Co., Ltd.
- American Elements
- GEO Specialty Chemicals
- Henan Botai Chemical Building Materials Company Ltd.
- Zibo Ruibao Chemical Co., Ltd.
- Shandong Baoyuan Chemical Co.,Ltd
- Jiangxi Kosin Organic Chemical
- Sidley Chemical Co.,Ltd
Request a Sample Report:
Multi-Utility Nature of Calcium Formate to Boost Growth Prospects
Calcium formate structure makes it a white crystalline solid that is free-flowing and odourless. Its unique properties have made it a highly demanded compound across the industrial spectrum. For example, in the leather tanning industry, calcium formate speeds up the percolation of chrome in the leather. This is also why leather is one of the leading segments in the market with a 18.3% share, as per Calcium Formate Market trends. Addition of the compound in cement makes cement hard, strong, and more durable, making it a hot cake in the cement industry. Moreover, the compound also works well in low temperature and prevents corrosion in metal substrates. Another application of calcium ethanoate is in flue gas desulphurization, where the compound has shown the capacity to remove nearly 95% of oxides of sulphur from fuel oil. This multi-applicability is expected to enhance the potential of this market in the approaching decade.
Asia-Pacific to Hold a Commanding Position in the Market; Europe to Grow Healthily
Asia-Pacific is projected to dominate the Calcium Formate Market share owing to the explosion of construction activities in China and India and a flourishing cement and steel industry in Japan. Europe is anticipated to experience a stable growth period owing to the increasing demand for calcium ethanoate in the feed industry. North America, Latin America, Africa, and the Middle East will exhibit a relatively modest CAGR due to low demand for the compound in their construction industries.
Increasing Research into Safety of Calcium Formate to Promote Innovation
Competition in this market is still at its nascent stage as safety in using the compound is still being researched and the results are promising. For example, the International Labor Organization (ILO) found that ingestion of calcium formate in a healthy body does not lead to its accumulation and is, in fact, metabolized by the body at a quick pace. These are positive signs for players to increase their investment in R&D activities in manufacturing this compound and establishing their presence in the market.
To gain more insights into the market, click here:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]