The Global Calcium Formate Market size is expected to reach $1.1 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,264.4 Kilo Tonnes, experiencing a growth of 5.0% (2019-2022).
Calcium formate is widely used as a concrete accelerator in the construction segment. It accelerates the setting and curing of concrete, particularly in cold weather conditions where traditional curing processes may be slower. Therefore, the construction segment captured $248.0 million revenue in the market in 2022. The compound's ability to improve the early strength development of concrete is valuable in ensuring timely construction progress. This is an effective solution for construction projects in colder climates, allowing construction activities to continue even during winter. Its use helps mitigate the impact of low temperatures on concrete work. Some of the factors impacting the market are growing power generation needs, expansion of animal husbandry growth, and high-cost sensitivity of calcium formate.
Calcium formate is used as a de-icing agent in power generation facilities. It helps prevent ice accumulation on critical infrastructure such as power lines, transformers, and outdoor equipment. This is crucial for maintaining power generation facilities' operational efficiency and safety. Its role in preventing ice accumulation facilitates more efficient maintenance of power generation infrastructure. It reduces the need for frequent interruptions and maintenance activities caused by ice-related issues. Additionally, this is a feed additive in animal nutrition, contributing to livestock's health and well-being. It provides essential nutrients and supports optimal growth. The antimicrobial properties of this make it a valuable alternative to traditional antibiotics in animal feed. As concerns about antibiotic resistance grow, this aligns with the shift towards sustainable and responsible agricultural practices. This is known to improve digestive health in animals. Expansion of animal husbandry growth have been a pivotal factor in driving the growth of the market.
However, the cost of calcium formate can be subject to volatility, influenced by factors such as raw material prices and production costs. Cost-sensitive industries may find fluctuations challenging to manage. Industries operating under tight budget constraints may resist adopting these if the perceived cost is high. High or fluctuating prices can raise concerns about the affordability of these, especially in industries where cost considerations play a critical role in procurement decisions. Thus, high-cost sensitivity of calcium formate can slow down the growth of the market.
On the basis of end-use, the market is divided into construction, leather & textile, animal husbandry, power generation, and others. The power generation segment procured a promising growth rate in the market in 2022. Calcium formate is used as a de-icing agent in power generation facilities, especially in cold climates. Its ability to lower the freezing point of water helps prevent ice formation on critical infrastructure, such as power lines, electrical equipment, and outdoor facilities. This makes it suitable for power generation facilities where sensitive equipment, electrical components, and infrastructure risk corrosion if exposed to certain de-icing agents.
Based on application, the market is classified into feed additive, concrete additive, textile dyeing & finishing, and others. In 2022, the concrete additive segment witnessed the largest revenue share in the market. This can act as a water reducer in concrete mixes. Reducing the water demand helps maintain the desired consistency and workability of the concrete while minimizing the risk of shrinkage cracks. This is an alkali-free accelerator, making it a suitable choice for applications where alkali-silica reaction (ASR) is a concern. ASR can lead to the formation of cracks in concrete due to a reaction between alkalis in the cement and certain reactive minerals in aggregates.
By grade, the market is categorized into feed grade and industrial grade. The feed grade segment covered a considerable revenue share in the market in 2022. Calcium formate exhibits antimicrobial properties that are particularly beneficial in animal nutrition. This improves gut health by limiting the formation of harmful bacteria in animals' digestive systems. This antimicrobial effect promotes a healthier environment in the gastrointestinal tract, enhancing overall well-being in livestock. This can enhance the digestibility of nutrients in animal feed.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 712.6 Million |
| Market size forecast in 2030 | USD 1.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.4% from 2023 to 2030 |
| Number of Pages | 348 |
| Number of Tables | 730 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Grade, Application, End-use, Region |
| Country scope |
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| Companies Included | Lanxess AG, Chongqing Chuandong Chemical (Group) Co., Ltd., Zibo ruibao chemical co. LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co.,Ltd., SIDLEY CHEMICAL CO.,LTD., American Elements, Minerals Technologies Inc., Cerne Calcium Company, and Hangzhou Focus Chemical Co., Ltd. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The region has a significant agricultural sector, and its adoption as a feed additive in animal nutrition supports the growth and health of livestock. The growth of the animal husbandry industry in the Asia Pacific region contributes to the adoption of this as a feed additive. As the region experiences economic growth, there is a concurrent increase in power generation activities and energy infrastructure development.
Free Valuable Insights: Global Calcium Formate Market size to reach USD 1.1 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lanxess AG, Chongqing Chuandong Chemical (Group) Co., Ltd., Zibo ruibao chemical co. LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co.,Ltd., SIDLEY CHEMICAL CO.,LTD., American Elements, Minerals Technologies Inc., Cerne Calcium Company, and Hangzhou Focus Chemical Co., Ltd.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $1.1 billion by 2030.
Expansion of animal husbandry growth are driving the Market in coming years, however, High-cost sensitivity of calcium formate restraints the growth of the Market.
Lanxess AG, Chongqing Chuandong Chemical (Group) Co., Ltd., Zibo ruibao chemical co. LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co.,Ltd., SIDLEY CHEMICAL CO.,LTD., American Elements, Minerals Technologies Inc., Cerne Calcium Company, and Hangzhou Focus Chemical Co., Ltd.
The Industrial Grade segment is registering the maximum revenue in the Market by Grade in 2022; thereby, achieving a market value of $624.2 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $439.4 Million by 2030.
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