Calcium formate is one of the many organometallic compounds that significantly improve the properties and performance of brick binders. In non-water-soluble applications such as solar energy and water treatment, calcium formate has a wide range of applications. In addition, calcium formate is readily available and can be conveniently purchased in large quantities, when used as an additive, calcium formate enhances adhesion, extends opening time, and accelerates strength with extraordinary effect, the substance has multiple applications in multiple industries, which makes the demand for it consistent around the world, the substance is used in a wide variety of commodities, and the substance is used in a wide variety of commodities. Such as fertilizers, fillers, putty, plaster, adhesives and sealants.
In cement and urban industrial applications, calcium formate can exist in many forms, such as thiocyanates, ammoniates, carbonates, thiosulfates, silicates, bromides, nitrates, alkali metal gas oxides, and aluminates. In many cases, such alternatives are mostly employed in the production industry, limiting the market growth of calcium formate. In addition, calcium formate is widely used in detergents, car care products, paints, coatings and adhesives, as well as fragrances and air fresheners. These substances are used in outdoor building materials, metal, wood and plastic construction.
Global Market Size, Forecast, and Trends 2024-2036 Highlights The calcium formate market will exceed $206.6 million in 2023 and may reach $315.09 million by the end of 2036, with a CAGR of about 3.3% during the forecast period (i.e. 2024-2036). In 2024, the calcium formate industry size is expected to be USD 212.74 million, the growth of the market can be attributed to the increase in global construction activities, as well as the surge in the use of calcium formate in the cement industry, which enhances the hydration level of tricalcium silicate in cement, is expected to drive the growth of the market in the coming years. As of 2022, there are approximately 3,784,290 construction companies in the United States, an increase of approximately 4% from 2021, and calcium formate is an ingredient in cement additives, concrete accelerators, tile adhesives, and cement-based mortars. The increasing use of cement in the construction industry has increased the demand for calcium formate. Moreover, it is a cement additive used in the construction industry to reduce setting time and toughen cement products. Cement is used, among other materials, in the manufacture of concrete, slabs, sheets, adhesives, bricks and blocks. Other uses for calcium formate include preparation, PH regulators, corrosion protection for building and infrastructure substrates, and cementing for oil drilling. China is one of the world’s largest producers and consumers of cement, which is mainly used in concrete production. Therefore, the growing demand for cement in the construction industry is driving the growth of the global calcium formate market.
Market segmentation
The calcium formate market is segmented and analyzed by demand and supply of end-use industries, including construction, livestock, power generation, chemicals, and leather and textiles. Among them, supported by growing construction activities, the construction sector is expected to receive the largest revenue by the end of 2036. In addition, there has been an increase in the construction of office space, hotels, etc., which is also expected to drive the growth of this segment. In 2020, India’s six major cities will net about 30 million square feet of office space.
Similarly, the global calcium formate market is segmented into feed grade and Industrial grade by type, among which, the feed grade segment is expected to stimulate market expansion due to the increasing use of calcium formate in feed and the subsequent increasing demand for premium animal feed is expected to drive the market growth of this segment.
By application
Feed additive
Ceramic tile and stone additives
Drilling fluid
Textile aid
Leather tanning
Flue gas desulfurization
By end-user industry
build
Animal husbandry
By end-user industry
Generate electricity
chemicals
Leather and textiles
Regional overview of the global calcium formate market
Due to the continuous development of the chemical industry in the region, the Asia-Pacific market is expected to hold the largest market share by the end of 2036, in the Asia-Pacific region, smes in the domestic chemical industry are expected to grow their revenue by more than 15% in FY22 due to improved domestic demand and increased liquidations from high chemical prices. Asia Pacific is one of the most important markets for the global calcium formate market, accounting for the largest market share of calcium formate in 2020, rapid expansion in the use of calcium formate as a cement additive, coupled with sharp growth in the use as a major substance such as various putty, adhesives, and sealants are expected to drive the growth of the calcium formate market in the region during the forecast period. In addition, the surge in chemical, leather, textile and animal husbandry in countries such as India, Japan, China and South Korea has also increased the demand for the substance in the Asia-Pacific region.
Furthermore, the European region is expected to see significant growth in the coming years due to rising disposable incomes and the presence of major market players in the countries of the region. In addition, the continued growth of the animal feed industry and the increase of new construction projects are expected to further boost the growth of the market. The high use of calcium formate in the leather tanning industry is another factor driving the expansion of the European market.
Post time: Dec-27-2024