Calcium Formate Market Forecasts to 2030 – Global Analysis By Grade (Industrial Grade and Feed Grade), Application (Tile & Stone Additives, Flue Gas Desulfurization and Other Applications), End User and By Geography

Calcium Formate Market Forecasts to 2030 – Global Analysis By Grade (Industrial Grade and Feed Grade), Application (Tile & Stone Additives, Flue Gas Desulfurization and Other Applications), End User and By Geography

According to Stratistics MRC, the Global Calcium Formate Market is accounted for $806.25 million in 2023 and is expected to reach $1,337.61 million by 2030 growing at a CAGR of 7.5% during the forecast period. Calcium formate is a chemical compound with the formula Ca(HCOO)2. It is the calcium salt of formic acid, characterized by its white, crystalline solid form. Widely used in various industries, including construction, agriculture, and food production, calcium formate serves multiple purposes. In construction, it acts as an additive in cement formulations, aiding in concrete setting and improving its properties such as strength and durability. It acts as a preservative and acidifier in the food industry, extending the shelf life of products and enhancing their quality.

According to China-based Sidley Chemicals Co. Ltd., adding calcium formate to a piglet diet can improve the feed conversion rate by 7-10 percent. According to the India Brand Equity Foundation (IBEF), India is expected to be the third-largest construction industry by the end of 2025. According to the Council of Leather Exports, India is the second-largest producer and exporter of leather products in the world.

Market Dynamics:

Driver:

Construction industry growth

The construction industry's growth is a key driver for the calcium formate market due to the compound's versatile applications. Calcium formate serves as a setting accelerator in cement and concrete formulations, enhancing their strength and durability. With the rising demand for infrastructure projects worldwide, including residential, commercial, and industrial construction, the need for calcium formate is escalating. Its effectiveness in reducing curing time and improving workability makes it a preferred additive, thereby stimulating market growth. Additionally, stringent regulations promoting eco-friendly construction practices further propel the adoption of calcium formate, as it is considered a more sustainable alternative in many applications.

Restraint:

Regulatory constraints

Regulatory constraints in the calcium formate market are governmental policies, standards, and regulations that govern the production, sale, and use of calcium formate. These constraints may include restrictions on the levels of impurities allowed, environmental regulations regarding waste disposal, and safety standards for handling and transportation. Compliance with these regulations often entails additional costs for manufacturers and distributors, impacting market dynamics. Moreover, changes in regulatory requirements can influence product development and market strategies, as companies must adapt to meet new standards while ensuring continued profitability.

Opportunity:

Pharmaceutical and chemical industries

The pharmaceutical and chemical industries have a significant opportunity in the calcium formate market. Calcium formate serves various purposes, including as a feed additive, a concrete accelerator, and a component in drilling fluids. In pharmaceuticals, it can be used in formulations for its buffering and antimicrobial properties. In the chemical sector, it acts as a catalyst in various reactions. Its versatility and wide range of applications make it a valuable commodity for these industries, presenting opportunities for innovation and product development to meet evolving market demands and regulatory requirements. Additionally, as demand for sustainable and eco-friendly alternatives grows, calcium formate's potential as a biodegradable and non-toxic option further enhances its appeal to these sectors.

Threat:

Technological advances

Technological advances pose a threat to the calcium formate market in several ways. Innovations in alternative materials or manufacturing processes could reduce the demand for calcium formate in various industries like construction, animal feed, and chemical production. Advancements in chemical synthesis techniques might lead to more cost-effective or environmentally friendly substitutes for calcium formate. Breakthroughs in storage and transportation methods could make competing products more accessible and efficient, further challenging calcium formate's market position. Consequently, companies operating in the calcium formate sector must stay vigilant and adaptable to navigate potential disruptions caused by technological progress.

Covid-19 Impact:

The impact of COVID-19 on the calcium formate market has been notable. With the pandemic disrupting various industries, including construction, which is a major consumer of calcium formate, demand has fluctuated. Supply chains were disrupted, leading to logistical challenges and affecting production and distribution. Additionally, economic uncertainties prompted some projects to be postponed or canceled, further impacting demand. However, as the world gradually recovers and construction activities resume, the calcium formate market is expected to stabilize and potentially even witness growth as infrastructure projects resume their pace.

The industrial grade segment is expected to be the largest during the forecast period

The industrial-grade segment in the calcium formate market has been experiencing significant growth due to the rising demand for calcium formate in industries such as construction, leather tanning, and feed additives. Additionally, calcium formate's properties, including its ability to act as a concrete accelerator, preservative, and pH regulator, have expanded its utility across multiple sectors. Moreover, advancements in manufacturing processes and the development of innovative formulations have enhanced the performance and applicability of industrial-grade calcium formate products, further driving market growth. Furthermore, increasing investments in infrastructure development projects globally have spurred the demand for construction chemicals, including calcium formate, contributing to the segment's expansion.

The construction segment is expected to have the highest CAGR during the forecast period

The construction segment's growth can be attributed to calcium formate’s ability to serves as an effective additive in cement and concrete formulations, enhancing properties like setting time and strength. With the booming construction industry globally, particularly in emerging economies, the demand for calcium formate as a construction chemical has surged. Additionally, its eco-friendly nature compared to traditional additives further boosts its popularity. Ongoing infrastructure development projects and the increasing trend towards sustainable construction practices are driving the demand for calcium formate in the segment. Furthermore, its versatility in applications, including tile adhesives, mortars, and self-leveling compounds, widens its appeal in construction.

Region with largest share:

The North American region has experienced notable growth in the calcium formate market due to increased demand in various industries, such as construction, animal feed, and chemical manufacturing. Calcium formate's versatility as a concrete additive for improving workability and strength has fuelled its adoption in the construction sector, especially in the United States and Canada. Rising awareness about the benefits of calcium formate in animal nutrition for improved growth and health has driven its usage in the animal feed industry across North America.

Region with highest CAGR:

The Asia-Pacific region has experienced notable growth due to increasing urbanization and industrialization in countries like China and India, which have spurred demand for construction materials, where calcium formate is utilized as an additive for cement and concrete formulations. Moreover, the expanding leather industry in countries like Bangladesh and Vietnam, where calcium formate is employed in the tanning process, has contributed to market growth. Furthermore, the region's economic development and diverse industrial landscape have propelled the demand for calcium formate across multiple sectors, fuelling its market expansion in the Asia-Pacific.

Key players in the market

Some of the key players in Calcium Formate market include American Elements, Cerne Calcium Company, Chongqing Chuandong Chemical (Group) Co. Ltd., Command Chemical Corporation, Feicheng Acid Chemicals Co.Ltd., Geo Specialty Chemicals, Inc., LANXESS Corporation, Minerals Technologies Inc., Perstorp Holding AB, SIDLEY CHEMICAL CO., LTD., The Lubrizol Corporations and Zibo Ruibao Chemical Co. Ltd.

Key Developments:

In April 2024, LANXESS has developed special ion exchange resin grades within its Lewatit UltraPure range that can be used for water treatment in PEM electrolysis (Proton Exchange Membrane Electrolysis). This process, which converts electricity from preferably renewable energies into hydrogen, is regarded as a promising approach to the sustainable production of this precious gas. In this way, fluctuations in wind power and solar radiation can be better compensated.

In April 2024, Lubrizol has opened a new Global Capability Centre (GCC) in Pune, India as a strategic hub to accelerate its growth in the region and enable closer collaboration for its customers and employees leveraging local talent to enable regional and global success in the many markets and industries it serves. The campus is WELL- and LEED Gold certified to enable a safe, healthy, and environmentally conscious workspace. In addition to a well-designed and ergonomic workspace, the 42,000-square-foot facility features wellness rooms, a recreational area, a training area and huddle rooms with an emphasis on natural light.

Grades Covered:
• Industrial Grade
• Feed Grade

Applications Covered:
• Tile & Stone Additives
• Flue Gas Desulfurization
• Drilling Fluids
• Cure Accelerator
• Feed Additive
• Textile Dyeing & Finishing
• Other Applications

End Users Covered:
• Animal Husbandry
• Chemicals
• Construction
• Power Generation
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances