The calcium formate market has witnessed significant growth over the past few years owing to growing construction activities. Calcium formate is an inorganic salt that is odorless and forms a clear solution in water. It has various properties including anti-freezing, pH regulating, and cement setting acceleration. Calcium formate is primarily used as an additive in concrete to accelerate the setting and hardening of cement. It serves as an effective substitute for calcium chloride owing to its lower toxicity.
The global calcium formate market is estimated to be valued at US$ 860 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period from 2024 to 2031.
The rising infrastructure development projects across both developed and emerging nations is driving the Calcium Formate Market Demand for cement and concrete, which in turn is fueling the adoption of calcium formate. Calcium formate provides economic and environmental benefits over traditional cement additives. It requires lower dosage to achieve the desired performance, thereby reducing material cost. In addition, calcium formate improves the anti-freezing properties and pH levels of concrete.
Key Takeaways
- Key players operating in the calcium formate market are SIDLEY CHEMICAL CO., LTD., Zouping Fenlian Biotech Co., Ltd., American Elements, Wujiang yingchuang chemical co., ltd., Minerals Technologies Inc., Cerne Calcium Company, LANXESS, Perstorp Holding AB, Chongqing Chuandong Chemical (Group) Co. Ltd., Zibo ruibao chemical Co., LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co. Ltd, Jiangxi Kosin Frontier Technology Co., Ltd.
-The rapid expansion of infrastructure activities across Asia Pacific and Middle East & Africa is expected to present lucrative growth opportunities for players in the calcium formate market over the forecast period.
- Key players are exploring partnerships and acquisitions with local players to strengthen their presence across emerging markets and tap the growing demand from the construction industry. Many players are also focusing on capacity expansions to cater to the rising demand.
Market Drivers
The primary driver propelling the calcium formate market growth is the rapid infrastructure development activities across both developed and developing nations. There is significant investment by governments around the world in construction of roads, bridges, buildings, and other construction projects. This is positively impacting the demand for cement and concrete, which in turn is boosting the consumption of calcium formate as an additive for accelerating the cement setting process. The increasing adoption of calcium formate over traditional additives such as calcium chloride owing to its lower toxicity and cost-effectiveness is another major factor expected to drive the market over the forecast period.
PEST Analysis
Political: Government policies related to the agriculture sector as Calcium Formate Market Regional Analysis is majorly used as cattle feed nutrient. Any support through subsidies can boost the demand.
Economic: Fluctuating prices of raw materials affects the overall production cost of calcium formate. Economic growth and income levels determine the spending on animal feed and related products.
Social: Rising consumption of milk and dairy products driving the demand for quality cattle feed and nutrients. Growing awareness regarding animal nutrition and health favors the calcium formate market.
Technological: Continuous research leading to development of novel applications in concrete admixture, pharmaceuticals aid the market growth. Automation in manufacturing enhances the production efficiency.
Geographical regions of concentration:
The calcium formate market in terms of value is majorly concentrated in North America and Europe. The regions account for over 60% of the global market share due to robust demand from construction and animal feed industries in countries like the US, Germany, France and the UK. Asia Pacific is also among the lucrative markets driven by infrastructure growth and rising meat consumption in China and India.
Fastest growing region:
Asia Pacific region is poised to showcase the fastest growth in the calcium formate market during the forecast period. This is owing to increasing construction spending, expanding meat production and rapidly developing end-use industries in the region. Countries like China, India and Japan are anticipated to accelerate the consumption of calcium formate owing to rising disposable income, growing population and changing food habits. The market players are actively investing in Asia to leverage vast business opportunities.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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