Calcium Formate Market to Reach Value of US$ 700 Mn by 2031, TMR Study

• New prospects are opening up for the calcium formate market due to burgeoning demand from the meat and dairy segment, which is raising demand for livestock and animal feed
• The mining category is anticipated to grow throughout the forecast timeline as global usage of calcium formate in the building and construction industry rises

WILMINGTON, Del., Oct. 24, 2022 /PRNewswire/ -- Based on revenue, it is projected that by 2031, the global calcium formate market will touch value of around US$ 700 Mn. Demand analysis of calcium formate market anticipates the global market to rise at 4% CAGR during the forecast period, from 2021 to 2031. In non-aqueous solubilities including water treatment and solar energy applications, calcium formate offers a wide range of applications. Calcium formate is readily available and can be simply purchased in large and bulk amounts. When used as an additive, calcium formate increases adhesions, extends open duration, and accelerates strength with extraordinary effectiveness.

The substance is used in a wide range of industries that keeps demand for it consistent in the global calcium formate market. In the construction industry, calcium formate is a common ingredient in concrete and remicon. In order to make cement products stronger, it is used as an addition in the construction industry. Additionally, it is utilized to strengthen bricks, adhesives, concrete, blocks, and many other building materials. It is projected that rising usage within the construction industry will drive sales of calcium formate market.

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The use of calcium formate as a preservative in animal feed has now been permitted. This could be due to the regulations on animal feed that many countries around the world have implemented to improve public health. A balanced diet is good for animals' digestive systems, which has led to an increase in the need for chemicals and preservatives to ensure the growth of livestock in a healthy manner. The global calcium formate market is anticipated to expand due to increasing usage of calcium formate in the form of an ingredient in animal feed. It is regarded as safe for all kinds of animals all over the world.

Key Findings of Market Report

• The prohibition on antibiotic growth boosters, increase in feedstock supply, and heightened understanding about quality meat are projected to drive the feed grade business. It also covers the use of calcium formate for treating silage. These factors are estimated to fuel growth of the global calcium formate market in the forthcoming years.
• In terms of grade, in 2020, the industrial grade category had a significant market share due to the high consumption for industrial grade calcium formate in a variety of applications, including leather tanning, tile additives, and concrete setting. Increasing use of industrial grade category is estimated to come up as one of the emerging trends of the calcium formate market in the near future.
• In the coming years, it is anticipated that the growing use of leather in the manufacturing of clothes, footwear, accessories, as well as automobile interiors will raise the use of calcium formate in textile finishing and dyeing processes. This factor is expected to drive positive calcium formate market outlook in the years to come.

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Global Calcium Formate Market: Growth Drivers

• As the number of people eating meat has increased, so has the consumption for meat items in the Asia Pacific region. The calcium formate market is anticipated to have significant growth in the Asia Pacific region in the years to come.

Global Calcium Formate Market: Key Competitors

• Henan Botai Chemical Building Material Co., Ltd
• Geo Specialty Chemicals, Inc.
• Lanxess AG
• Zibo Ruibao Chemical co., LTD.
• Perstorp Group

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Global Calcium Formate Market: Segmentation

Grade

• Feed Grade
• Industrial Grade

Application

• Concrete & Remicon (Ready-mix Concrete) Additives
• Animal Feed
• Textile Dyeing & Finishing
• Others

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