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Calcium Formate Market to Touch $628.5 Million by 2027; Widening Application of Calcium Formate in Leather Tanning Industry to Create Lucrative Prospects

September 15, 2020 | Chemicals & Materials

The global calcium formate market size is projected to reach USD 628.5 million by 2027 owing to the extensive utilization of calcium methanoate in concrete production, states Fortune Business Insights™ in its report, titled Calcium Formate Market Size, Share & COVID-19 Impact Analysis, By Type (Feed Grade, Industrial Grade), By Application (Feed, Construction, Leather, Chemical, and Others), and Regional Forecast, 2020-2027”. As per the report, the value of the market stood at USD 469.4 million in 2019 and the market is expected to register a CAGR of 4.0% from 2020 to 2027.


The COVID-19 pandemic is slated to create major roadblocks for the calcium formate market growth, mainly stemming from massive supply chain disruptions in the global chemicals industry. Additionally, reduced workforce, contracting economic activities, and plummeting demand will further impede the market growth as a result of declining usage of chemical compounds in various end-use industries.


Sidley Chemicals Exhibits Its Offerings at Sao Paolo Expo


At the 16th ABRAFATI held at Sao Paolo, Brazil, in October 2019, China-based Sidley Chemicals showcased its novel calcium formate offering called “Sidley CaFo”. The product has been designed to provide stable early strength and can be widely applied as a tile adhesive, especially in conditions with low temperatures. Moreover, the offering features enhanced properties such as no odor, free-flowing consistency, and distinct whiteness. Sidley aims at leveraging this expo to establish presence in the burgeoning construction industry in South America, especially Brazil.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/calcium-formate-market-101683


Incorporation of Calcium Formate in Animal Feed to Broaden Market Outlook


Calcium formate acidifies animal feed, which prevents growth of microorganisms and increases shelf-life of the feed. To support the incorporation of this compound as an animal feed preservative, a panel under the European Food Safety Authority (EFSA) conducted a study to understand the effects of using calcium formate. The panel found that the compound has no adverse effects in the fattening of chickens and cattle animals and can also be used in feed for pigs, poultry, and fish. Furthermore, the study also showed that neither calcium nor formate concentrated on animal tissues, thus keeping consumers safe from exposure to formates. However, the compound was found to have severe effects on eyes, and the panel suggested limited exposure to inhalable dust of workers during production processes. Given these properties of calcium methanoate, the EFSA determined the compound safe for use as preservative in animal feed, which has opened new opportunities for players in this market.


Key Players to Redesign Strategies to Cope with COVID-19


The COVID-19 pandemic has caused massive upheavals in the chemicals and materials industry, with key players having to grapple with production losses and plummeting sales. In response to this crisis, many companies are reorienting their strategies to wade through the pandemic and are exploring avenues to offset their losses. While some participants are increasing production capacities to support the fight against the pandemic, others are divesting their businesses to exit overexposed markets and industries to cut their losses.


Industry Development:



  • April 2020: S&P Global Ratings downgraded Perstorp’s credit rating from ‘B’ to ‘B-“, citing the incipient recession created by the coronavirus pandemic worldwide. S&P stated that the current crisis is likely to impact Perstorp’s sales and earnings, despite the company’s measures to maintain their liquidity.


List of Key Players Covered in the Market Report:



  • Sidley Chemical Co., Ltd. (China)

  • Shandong Baoyuan Chemical Co., Ltd. (China)

  • Henan Botai Chemical Building Materials Company Ltd. (China)

  • American Elements (USA)

  • LANXESS (Germany)

  • Chongqing Chuandong Chemical (Group) Co., Ltd. (China)

  • Jiangxi Kosin Organic Chemical (China)

  • Zibo Ruibao Chemical Co., Ltd. (China)

  • GEO Specialty Chemicals (USA)

  • Perstorp (Sweden)


Further Report Findings:



  • Increasing deployment of calcium formate for faster formulation of leather will aid the leather segment’s performance during the forecast period. In 2019, the segment held a share of 18.2% in the market.

  • Asia Pacific is set to dominate the market share in the coming years on account of widespread presence of chemicals manufacturers in China. The region’s market size in 2019 stood at USD 251.4 million.


Table of Segmentation:








































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million) and Volume (Kiloton)



Segmentation



By Type



  • Feed Grade

  • Industrial Grade



By Application



  • Feed

  • Construction

  • Leather

  • Chemicals

  • Others



By Geography



  • North America

    • By Type

    • By Application

    • By Country

      • U.S.

      • Canada

      • Mexico





  • Europe

    • By Type

    • By Application

    • By Country

      • Germany

      • UK

      • France

      • Spain

      • Italy

      • Russia

      • Rest of Europe





  • Asia Pacific

    • By Product Type

    • By Application

    • By Country

      • China

      • India

      • Japan

      • South Korea

      • ASEAN

      • Rest of Asia Pacific





  • South America

    • By Type

    • By Application

    • By Country

      • Brazil

      • Rest of South America





  • The Middle East and Africa

    • By Type

    • By Application

    • By Sub-Region

      • Saudi Arabia

      • South Africa

      • Egypt

      • Turkey

      • Rest of the Middle East and Africa






Calcium Formate Market
  • PDF
  • 2019
  • 2016-2018
  • 135

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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