The Global calcium formate market was valued US$ X.23 Bn and is expected to reach X.54Bn by 2027, at a CAGR of X.2% during a forecast period.
Calcium formate is an odourless, free-flowing white crystalline solid. It is major source of calcium and formate ions together it rapidly gets discolour in the air and react with aqueous solution. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Global production of calcium formate was stood at XX.32 kilo tones and sales of total product is evaluated ~XX kilo tones and this growth is expected to hold a constant position owing to development in the numerous end-users’ industries and application across the globe. The calcium formate market was valued US$ X.23 Bn and is expected to reach X.54Bn by 2027, at a CAGR of X.2% during a forecast period. Region wise growth is expected to dominate by Asia Pacific region as emerging economies are chiefly participating in the calcium formate market.
Global calcium formate market Drivers and Restraints:
Despite form acceptance of the calcium formate in the field of cement, chemical, textile, additives, leather tanning, is also boosting the market growth in the animal feed sector, which has been registering a very strong growth factor for the global calcium formate market. Ongoing research and development for the product is expected to increase the market demand in the coming seven years. Global calcium formate is boosting the market growth as prominent growth in the construction industries is showing unstoppable growth, concrete and cement industry will drive as a leading applicant of the product.
Furthermore, growth in the population with increasing awareness about the product, concern about the quality of meat after long term storage and prominent growth and development in the infrastructure is expected to drive the overall market growth by the end of 2027. Additionally, calcium carbonate is utilised as corrosion protector at a work place of infrastructure and building, oil and for cementation of oil drilling, also accepted as PH regulator and inhibitor in the chemical industry is expected to boost the market growth for long run. The product has gained attraction form the automakers as calcium carbonate enhance the transportation of gas to airbags when merged with ammonium nitrates, from passenger’s safety is priority amongst the automakers expected to boost the market demand with grate efficiency of calcium formate in this sector.
On the other hand, fluctuation in raw materials price and presence of substitutes for the product such as thiocynates, chlorides, carbonates, thiosulfates, silicates, bromides, fluorides, nitrates, alkali hydroxides, and aluminates in cement and concrete industrial applications, particularly in the construction area, has been hampering market growth.
Calcium Formate Market Segment analysis:
By the application segment, construction segment is expected to dominate the market growth. Calcium formate have ability of increased hydration thus makes concrete set swiftly will help to reduce the time consumption with early development of strength. Calcium carbonates works as accelerator and utilised in the production of cement blocks, sheets, cement and concrete based mortar and other cement based products is gaining the attraction from the investors to invest in the market growth will generate numerous employment opportunity. As the construction sector is still developing in Asia pacific regions expected to generate high demand for the cement and cement-bound building materials expected to boost the market growth as an additive. By the U.S. Geological Survey, global production of cement has mounted cement production in China has increased XX million tons in 2019 from the recorded production X,845 million tons in 2010. Growth in construction and infrastructure activities around the world expected rise the demand for cement and concrete in the coming years will boost the market growth in coming years.
Calcium Formate Market Regional Analysis:
Nationally, Asia Pacific is expected to dominate the calcium formate market and is expected to grow at CAGR of XX % during the forecast period. Forthcoming construction industry in the region post 2019 economic recession has positively influenced the product demand. Cumulative remodelling practices and renovation predominantly in the residential construction sector, has pushed the regional product demand in the recent years. Occurrence of healthy end-user industries including pharmaceutical, food and automotive sector will increase the high demand for product above mentioned applications. Furthermore, bending of interest for the investment in the Asia Pacific region amongst other expected to boost the market growth by 2027.
After Asia Pacific another region to dominate the market growth is documented by North America as this region is fully developed and trends like packed food with safety concern expected to be the major driver of the market, as feedstock production has boosted meat production capacities. Upsurge in the demand for dairy and meat products is expected to deliver huge opportunities to the global calcium formate market during the forecast period in the North America region.
By holding the position for high consumption and production of leather products Europe region will boost the marker growth in terms of leather tanning, as this is extensively used as masking agent in the leather industry for the chrome-tanning process.
Developing regions like India, China, and Japan are considered major contributors for the Calcium Formate market growth in the Asia Pacific region.
The objective of the report is to present a comprehensive analysis of the Global Calcium Formate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Calcium Formate Market dynamics, structure by analysing the market segments and project the Global Calcium Formate Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Calcium Formate Market make the report investor’s guide.
Scope of Calcium Formate Market:
Global Calcium Formate market, By Type
• Industrial Grade
• Feed Grade
Global Calcium Formate market, By Application
• Animal Feed and silage treatment
• Gas Desulphurization
• Chemical Industry
• Leather Industry
Global Calcium Formate Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Calcium Formate Market,
• Jiangxi Kosin Organic Chemical
• Command Chemical Corporation
• Chongqing Chuandong Chemical
• Shandong BaoYuan Chemical
• Wujiang Hongyang Chemical
• Zibo Zhongchuan Chemical
• GEO Specialty Chemicals
• Feicheng Acid Chemical
• LANXESS Corporation
• Zibo Ruibao Chemical
• Hengxin Chemical
• Baoding Guoxiu
• Zouping Fenlian
• Henan Botai
• Fano Biotech
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