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The global calcium formate market size was USD 451.2 million in 2018 and is projected to reach USD 627.1 million by 2026, exhibiting a CAGR of 4.2% during the forecast period.
Calcium formate is a calcium salt of formic acid produced from calcium hydroxide and carbon monoxide or formed as a by-product while production of trimethylolpropane. The majorly used process to get calcium formate is through the reaction of dilute formic acid and calcium carbonate or calcium hydroxide. This method produces excellent quality and a less water-content insoluble product. The mineral form of calcium formate is formicaite. It can form orthorhombic crystals and remains inflammable and stable at room temperature. Calcium formate is a white free-flowing powder packed in bags.
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In the current global market scenario, calcium formate is majorly used in the production of concrete, cement-based mortars, putty, and tiles in the construction industry. The major application of calcium formate is enhancing properties of cement in the construction industry. Calcium formate is also used as an antibacterial and can be taken as calcium supplements. Other applications of calcium formate include masking agent in leather tanning, feed additive, de-icing agent, flue-gas desulfurization, adhesives & sealants, and pigment & dyes.
The current calcium methanoate market trends are rising demand for cement-based products, and growing feed, and leather industries.
“Growing Demand for Calcium Formate from Construction Industry to Boost Sales Opportunities”
Calcium formate is used as cement additives and accelerator, tile adhesives, and cement-based mortars. The growth in the consumption of cement from the construction industry effectively influences the calcium formate market growth.
Calcium formate is used as a cement additive in the construction industry for quick setting and increasing hardness of cement products. Cement is further used in the production of various products such as bricks and blocks, slabs & sheets, adhesives, and concrete. In addition, calcium formate is also used as an inhibitor, PH regulator, corrosion protector to substrates of buildings & infrastructures, and for cementation of oil drilling. Currently, calcium formate is majorly used in the production of concrete in China which is the dominant country in the production and consumption of cement. Hence, the growing demand for cement from the construction industry is expected to drive the calcium methanoate market.
“Industrial Grade of Calcium Formate has Anticipated to Exhibit a Significant CAGR during the Forecast Period”
Industrial grade calcium formate is used as cement and tile additive, flue-gas desulfurization agent, de-icing agent, feed additive, and adhesive & sealant. Increasing demand for industrial-grade calcium formate from feed, construction, and chemical industries is expected to drive the calcium methanoate market globally. In addition, growing construction industry is expected to majorly support the calcium formate market regional forecast.
Similarly, feed grade calcium formate is expected to provide growth to the calcium methanoate market sales in the forecast period owing to the use of calcium formate as feed additive in the animal feed industry. Increasing demand for quality feed for animals from the feed industry will also drive the demand for market, globally.
“The Construction Segment is Expected to Generate the Highest Revenue during the Forecast Period”
The demand for calcium formate as a cement accelerator is increasing due to several applications such as production of concrete and cement based mortar, cement blocks & sheets, and other based cement products required in the construction industry. The use of calcium formate in cement for enhancing its properties such as increased hardness and less setting time, inhibition of corrosion of metal substrates, and prevention of efflorescence is the major application for calcium formate in the construction industry. Thus, rising consumption of cement is expected to drive the calcium formate consumption.
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In addition, calcium formate has application in the leather industry as a masking agent during the chrome leather tanning process. It is also used to promote faster formulation of leather and more efficient leather penetration of the chrome. China, India, Brazil, and the U.S. are the major consumers of leathers, thus, have a high demand for calcium formate in these countries.
Asia-Pacific is anticipated to remain a major region for the calcium formate market during the forecast period owing to the increased calcium formate demand from feed, construction, leather, and chemical applications. Asia-Pacific is expected to witness the high growth in market value across the globe. Growth in the feed and construction industries is a key driver for the calcium methanoate market in the region. China, Japan, and India are key countries contributing to the market growth in the region owing to the rising construction industry in these countries.
However, the growth of the calcium formate market in North America region is anticipated to grow at a relatively low CAGR due to the fact that the construction industry is stable in the region due to the established market.
North America Calcium Formate Market Size, 2018
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On the other hand, Europe is projected to witness significant growth in the calcium formate market. The increasing demand for calcium formate from the feed industry would contribute to the growth of the market in the region. Additionally, the use of calcium formate in various applications of the construction industry is another key factor driving the calcium methanoate market growth in Europe.
South America and Middle East & Africa would have lower growth in the calcium methanoate market value compared to other regions owing to the lower demand for calcium formate in the region.
“Major Players. are Expected to Strengthen the Market Position with Respect to Providing Calcium Formate Solutions to the Construction and Feed Industry”
The major producers of calcium formate are located in China, leading to fragmentation of the market. The producers located in North America and Europe region are aiming to increase their presence in China and other countries in Asia Pacific in order to strengthen the market position and drive the growth of their businesses. The key players in the calcium formate market have developed a strong regional presence, distribution channels, and product offerings.
"A growing trend observed in the penetration of the calcium formate market across the industries"
The report provides qualitative and quantitative insights on the market and detailed analysis of calcium methanoate market size & growth rate for all possible segments in the market. The calcium formate market is segmented by type, application, and geography. Based on the type, the calcium methanoate market is classified into feed grade and industrial grade. By application, the calcium methanoate market is divided into feed, construction, leather, chemicals, and others. Geographically, the calcium methanoate market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, South America, and Middle East & Africa. These regions are further categorized into countries.
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Along with this, the report provides an elaborative analysis of the calcium methanoate market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global calcium methanoate market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.
Value (USD Million) and Volume (Kiloton)
Fortune Business Insights says that the calcium formate market was valued at USD 451.2 Mn in 2018 and is projected to reach USD 627.1 Mn by 2026.
Growing at a CAGR of 4.2%, the calcium formate market will exhibit steady growth in the forecast period (2019-2026)
Industrial grade is expected to be the leading type for calcium formate market during the forecast period.
Growing consumption of cement will drive the growth of the calcium formate market.
Asia Pacific is expected to hold the highest market share in the calcium formate market.
Construction and feed are the key applications that would drive the adoption of calcium formate.
Rising demand for cement based products and feed additive are the market trends of calcium formate.