Calcium Formate Market

Calcium Formate Market Outlook (2023 to 2033)

The global calcium formate market accounts for a revenue of US$ 530.1 million in 2023 and is expected to attain a valuation of US$ 804.7 million by the end of 2033. This Fact.MR analysis predicts global demand for calcium formate to rise at 4.2% CAGR over the next ten years.

The calcium salt of formic acid is widely known as calcium formate and is chemically represented as [Ca(HCOO)2]. Calcium formate is 32% calcium with low PH and 69% of formic acid. Calcium formate is extensively used to manufacture tile adhesives, concrete accelerators and additives which makes the construction industry a prime contributor to market development in the future.

An increasing number of high net-worth individuals around the world is driving the sales of luxury products made from leather, which is projected to uplift calcium formate shipments since calcium formate is widely used in leather tanning. The growing world population and surging demand for animal-derived products are also estimated to augment calcium formate consumption in the long run.

Rapid industrialization and urbanization, high spending on infrastructure development, increasing use of additives in construction applications, and rising use of calcium compounds such as calcium methanoate, calcium citrate, calcium sulphate, etc. are other prospects that could influence market potential over the next ten years.

Demand for calcium formate in the Asia Pacific region is estimated to account for an authoritative share of the global marketplace throughout the forecast period, which can be ascribed to increasing infrastructure development activities and the launch of new construction projects in developing economies. China, India, and Japan are projected to be the most lucrative markets in this region going forward.

On the flip side, changing economic and political climates of the world cause volatility in the prices of raw materials used in the manufacturing of calcium formate and hinder market growth to a certain extent. Moreover, the abundant availability of competitively priced alternatives is also projected to foil calcium formate demand throughout the forecast period.

• The conflict between Russia and Ukraine that started in 2014 resulted in a war in 2022 and disrupted global supply chains as both countries accounted for the sizable distribution of several raw materials and commodities.

High initial capital investments and volatility in calcium formate prices make this a difficult market for upcoming calcium formate manufacturers and inhibit the start-up landscape for this market as well. New calcium formate companies can focus on optimizing supply chain management to stabilize prices of raw materials and reduce volatility in the global industry landscape in the future.

An elaborative assessment of local supply, restraints, safety regulations, opportunities, and other industry-altering factors has been mentioned in this latest calcium formate market research survey by Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Calcium Formate Market Size (2023)	US$ 530.1 Million
Projected Market Value (2033F)	US$ 804.7 Million
Global Market Growth Rate (2023 to 2033)	4.2% CAGR
Asia Pacific Market Value (2023)	> US$ 250 Million
Key Companies Profiled	Shandong Baoyuan Chemical Co.; Zouping Fenlian Chemical Co. Ltd.; Jiangsu Ruiyang Chemical Co. Ltd.; Lanxess AG; GEO Specialty Chemicals; Feicheng Acid Chemical Co. Ltd.; PuYang YongAn Chemical Co. Ltd. (YACC); ZIBO RUIBAO CHEMICAL CO. Ltd.; Perstorp Holding AB Ltd.; Chongqing Chuandong Chemical (Group) Co. Ltd.; Hangzhou Focus Chemical Co. Ltd.; Shandong Xinruida Chemical Industry Co. Ltd.; Hubei Hengxin Chemical Co. Ltd.

Which Industries Account for High Demand for Calcium Formate?

“Construction and Feed Additive Industries to Lead Market Growth”

Calcium formate is being used extensively in the building and construction industry as it is rapidly replacing calcium chloride as a concrete-setting accelerator. Growing investments in infrastructure development and the launch of several new megaprojects around the world are projected to further bolster demand for calcium formate and other chemicals used in the construction industry across the forecast period.

Calcium formate is also used as a feed additive in animal feed, which is projected to create new opportunities for calcium formate suppliers over the coming years. Moreover, advancements in animal nutrition are projected to favor demand for feed additives in the future and benefit market development in the long run.

Country-wise Insights

Why is Calcium Formate Demand Increasing in the United States?

“Increasing Residential Construction Activities Propelling Calcium Formate Sales”

The residential construction sector of the United States is projected to primarily promulgate calcium formate demand in the country throughout the forecast period. Supportive government initiatives and rising spending on new construction are other prospects that could favor market evolution in the country over the next ten years.

• As per statistics listed on the Associated General Contractors (AGC) of America website, the construction industry builds structures that amount to US$ 1.8 trillion per year.

Increasing consumption of animal-derived products, growing demand for animal feed, and rising demand for luxury leather products are other factors that could influence sales of calcium formate in the United States over the coming years.

Is Japan an Investment-worthy Market for Calcium Formate Vendors?

“Rising Meat Consumption and High Investments in Infrastructure Development Offering Lucrative Growth Scope”

The trend of meat consumption in Japan is a relatively new one as compared to several other countries in the world since it was banned for centuries in the country due to religious and practical reasons. However, meat consumption in Japan is rising rapidly as the influence of western culture increases in Japan and the availability of different types of meats rises. This surging demand for meat is driving demand for animal feed, which in turn is slated to uplift calcium formate sales in the country over the coming years.

Frequent earthquakes and increasing urbanization in Japan are prime factors that are promoting infrastructure development activity, which is projected to further supplement the demand for calcium formate and other chemical products used in the construction industry.

How Will Calcium Formate Demand Fare in European Countries?

“High Demand for Animal Feed Augmenting Product Sales”

Europe is home to some of the most prominent food and beverage companies in the world and this makes it an attractive market for calcium formate suppliers. The presence of a highly lucrative dairy industry favors demand for livestock, which is projected to supplement calcium formate sales in the region over the coming years.

Calcium formate is used as a preservative in animal feed and is popularly known as E238. Growing demand for animal feed to maintain livestock health and surging use of calcium formate in feed manufacturing augment market growth in countries such as Germany, France, Poland, Italy, etc. through 2033. The increasing investments in infrastructure development, rising construction activity, and increasing pet ownership are other factors that could sculpt demand for calcium formate in European countries across the forecast period.

The presence of several luxury brands and a rising number of millionaires and millionaires in European countries are forecasted to boost demand for leather and leather products in the future. Extensive use of calcium formate in leather tanning applications is anticipated to provide moneymaking opportunities for calcium formate suppliers in this region going forward.

Category-wise Insights

Which Applications Will Sculpt Calcium Formate Demand?

“High Use of Calcium Formate in Cement and Tile Adhesives”

Based on application, the calcium formate market is segmented into cement, animal feed & silage treatment, leather tanning, tile adhesives, lubricants, textiles, gas desulphurization, and others.

Rapid rise in urbanization and industrialization around the world is a prominent factor resulting in the growth of the building and construction industry. Specialty additives are being used in the construction industry to improve the quality of work and promote the adoption of sustainability in new infrastructure development. The surging use of calcium formate in cement and tile adhesive preparations and formulations is also projected to uplift the demand for calcium formate over the next ten years.

• As per statistics listed on the International Energy Agency (IEA) website, an estimated 4,300 Mt of cement was produced in 2021 and China accounted for more than 50% of that production.

Surging consumption of meat and meat products around the world is also projected to favor calcium formate shipments in the future. Growing focus on livestock management and rising demand for animal feeds are also slated to favor the consumption of calcium formate through 2033.

Competitive Landscape

Prime calcium formate manufacturers are focusing on expanding their business scope and market share through mergers, acquisitions, and collaborations.

• In July 2022, LANXESS AG, a specialty chemicals company based in Germany, announced the acquisition of the microbial control business from International Flavors & Fragrances Inc. (IFF), an American company. This acquisition is part of LANXESS’s efforts to expand its portfolio of preservatives, disinfectants, antimicrobial active ingredients, etc.

Top calcium formate companies are also projected to increase their investments in R&D to expand the application scope of calcium-based chemicals and also focus on increasing their production capacity to meet rising global demand.

More insights about new developments by leading calcium formate vendors and how they alter future product standards, safety regulations, and pricing trends have been discussed in detail in this latest Fact.MR research analysis.

Key Segments of Calcium Formate Industry Research

• By Function :

  • Preservatives
  • Cure Accelerators
  • Masking Agents
  • Additives
  • Others

• By Application :

  • Cement
  • Animal Feed & Silage Treatment
  • Leather Tanning
  • Tile Adhesives
  • Lubricants
  • Textiles
  • Gas Desulphurization
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA