A recent study published by Fact.MR finds that sales of calcium formate exceeded 1,100 tons in 2018 and are anticipated to register a 3.5% Y-o-Y growth in 2019. A cohort of drivers including favourable government regulations supporting the production process of calcium formate to achieve gas desulphurization and its niche applications in tile adhesives and textiles industry have been determining the growth of the calcium formate market.
The study highlights that the upgraded lifestyle of consumers and the subsequent inclination towards premium products have led to a notable rise in the demand for calcium formate. Achieving tanned leather for its application in enhancement of design pizzazz of automotive interiors, footwear, garments, and furniture, has been among the key boosters to calcium formate demand.
A growing interest of governments as well as non-governmental entities in environmental sustainability is collectively contributing towards achieving reduced sulphur dioxide emission from power plants, which is thereby generating demand for calcium formate as an additive to reactors, with an objective to promote dissolution of calcium carbonate and improve efficiency of desulphurization.
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Calcium Formate Market – Competitive Landscape
The calcium formate market remains highly fragmented in nature, with significant barriers to new entrants. While new product developments and launches remain key strategies of leading players, the focus also remains strong on collaborations with mid-sized industries to materialize their long-term manufacturing and distribution goals.
Leading players have a robust occupancy and distribution in developed as well as developing markets, collectively accounting for approximately 40% calcium formate sales. The strategies employed by leading players continue to contradict the ones put in action by mid-level players.
‘Buy and build’ remains a key strategy for the market leaders, as their efforts are geared towards strengthening their global footprint with the help of sound infrastructures and streamlined distribution. These players cater to niche applications in key industry sectors including electronics, construction, coatings, oil and gas, rubber, and water treatment.
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Effective Calcium Formate Alternatives Penetrating End-use Industries
In contrary to the traditionally used prophylactic antibiotics in disease prevention and growth promotion in pig and poultry feedstock, calcium formate has been emerging as an effective feed additive. Studies have also identified the growing trend of use of calcium formate as a preservative promoting gut health with its acidifying effect on gastrointestinal (GI) tract. The effectiveness of calcium formate in reducing pH levels within the GI tract has been proven to account for restricted bacterial growth, which will continue to solidify its status as an effective feedstock preservative.
Furthermore, the report underlines rising applicability of calcium formate in the construction industry owing to its abilities to curtail the setting time of cement. Progressive rise in the construction activities for commercial, industrial, and residential purposes in developing as well as developed countries is thus likely to offer an impetus to the demand for calcium formate in global market.
However, relatively lower water solubility of calcium formate will remain a longstanding challenge to rapid adoption. Calcium chloride, on the other hand, has been emerging as a superior alternative when it comes to achieve quicker setting of Portland and Pozzolanic cement. This scenario is expected to be further aggravated by the fluctuating prices of raw materials used in calcium formate production, which ultimately influences the overall production costs.
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The report finds that East Asia will continue to reign supreme globally, and will remain a high growth market for calcium formate sales. Billowing consumption of meat and poultry products, and expansion of dairy industry within East Asian countries are cited to remain the key growth determinants for the calcium formate demand in the region’s animal nutrition sector.
This Fact.MR report lends a detailed forecast of the calcium formate market for the period between 2019 and 2029. The calcium formate market is estimated to register a CAGR of over 5% through 2029.
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