by The calcium formate market comprises calcium formate as a primary product which finds wide application in various end-use industries like construction, oil & gas drilling, food processing, and animal feed due to its moisture-absorbing and anticaking properties. Calcium formate offers benefits like flame retardation, improved durability, and chemical and heat resistance in construction materials like cement, plaster, concrete, and mortar owing to which it is increasingly being used as an additive in the production of these materials.
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 2024 to 2031.
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 growing demand for sustainable and eco-friendly construction practices is driving the demand for calcium formate as it improves material properties and acts as an additive for construction materials like cement, concrete, and plaster. Additionally, stringent government regulations regarding carbon emissions from construction activities is also favoring the adoption of calcium formate.
The Global Calcium Formate Market Size is witnessing high growth in demand across all regions owing to increasing construction activities and growing infrastructure development projects worldwide. The Asia Pacific region accounts for the largest share in the global calcium formate market currently and is expected to witness the fastest growth during the forecast period.
Market Key Trends
One of the key trends gaining traction in the calcium formate market is its increasing usage as an eco-friendly and sustainable additive for concrete production. Calcium formate helps enhance the mechanical properties and impermeability of concrete while also reducing the carbon footprint of concrete production. It acts as a retarding and water-reducing admixture for concrete and enables the production of high-performance and more durable concrete using less cement. This significantly contributes to sustainability goals in the construction industry. Additionally, it improves early-age strength in concrete and aids fast construction cycles.
Porter’s Analysis
Threat of new entrants: Calcium formate market requires high capital investment for production facilities limiting threat of new entrants. Bargaining power of buyers: Large buyers can negotiate lower prices however availability of substitutes keeps pricing power of buyers in check. Bargaining power of suppliers: Raw material suppliers have less bargaining power due to availability of substitute materials. Threat of new substitutes: Substitutes like calcium chloride provide competition but calcium formate has advantage of lower corrosiveness. Competitive rivalry: Large established players maintain competitive prices however market has space for product differentiation and niche offerings.
Geographical Regions
North America and Europe account for over 60% of global calcium formate market value due to widespread use as de-icing and dust control applications. Asia Pacific region is the fastest growing market led by infrastructure growth in countries like China and India where it sees increasing demand as concrete additive.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
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