Calcium Formate Market - Global Size, Share, Trends, Growth and Forecast Year ( 2021 – 2031 )
Calcium Formate Market Definition and Overview
The global calcium formate market was valued at USD 545 million in 2020 and is projected to reach USD 948.3 million by 2031, growing at a CAGR 5.5% from 2021 to 2031.
The inorganic emulsion calcium formate has the formula Ca(HCOO)2. It is a white, crystalline greasepaint that is employed in a number of artificial processes, including those that include animal feed supplements, animal feed preservatives, concrete accelerators, and the production of organic acids and alcohols. The market for calcium formate is for goods and services associated with the manufacture, sale, and use of calcium formate. The need is being driven by the rising need for calcium formate in diverse industries including building, animal feed, and upheaval. In the approaching years, it's expected that factors including expanding urbanisation and population, increased need for animal-based food items, and increased usage of calcium formate as a concrete accelerator would fuel market growth.
Timeline considered for all these studies will be:
2022 – Base Year
2023 – Estimated Year
2023-2032 – Forecast Period
Calcium Formate Market Driving Factors
Calcium formate market is driven by various factors are:
- Growing market for animal-based food products: The widespread use of calcium formate as an animal feed addition is expected to fuel an increase in market.
- Rising market for calcium formate as a concrete accelerator: To accelerate the time that concrete takes to set, calcium formate is employed as an accelerator in construction. The market for calcium formate as a concrete accelerator is expected to increase because to the expansion of building conditioning over the world.
- Increasing population and urbanization: Urbanisation, which is increasing along with the population, is expected to increase the need for calcium formate, which is used in building adhesive.
- Growing use of calcium formate in fermentation: A turbulent feedstock called calcium formate is employed to produce organic acids and alcohols. It is predicted that this would increase market during the casting season.
- Government regulations and environment concerns: The market for calcium formate is also being fueled by government laws and local marketes since it is an environmentally beneficial alternative to other conventional goods.
Calcium Formate Market: Report Scope |
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Base Year Market Size |
2022 |
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Forecast Year Market Size |
2023-2032 |
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CAGR Value |
5.5% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Calcium Formate Market Challenges
Some calcium formate market faces certain challenges are:
- High cost of production: The product of calcium formate is quite valuable, which can restrict its surrender under certain circumstances.
- Limited availability: Some localities may not have widespread access to calcium formate, which might restrict its disposal there.
- Stringent regulations: In certain nations, the usage of calcium formate is subject to rigorous laws, which can restrict the amount that can be given up in those markets.
- Lack of awareness: Lack of awareness about calcium formate's advantages and applications may prevent some people from giving it up.
- Substitute products: Calcium formate has replacement goods that are comparable to sodium formate and calcium chloride, which might reduce the need for it.
- Higher price compared to other alternatives: The cost of calcium formate is higher than that of sodium formate and calcium chloride, which may restrict its use in some circumstances.
- Volatility in raw material prices: The cost of calcium formate as a product may be affected by fluctuations in the price of raw materials, which could prevent some people from giving it up.
Calcium Formate Market Segmentation
Segmentation of calcium formate market are:
Application:
- End-use Industry
- Geography
- By Form
- By source
- By Livestock
- By region
Calcium Formate Market Key Players
Some key players in the calcium formate market are:
- Shandong Yuxing Chemical Co., Ltd
- Zhejiang Jinkai Chemical Co., Ltd.
- Shandong Kaitai Industrial Technologies Co., Ltd.
- Shandong Luyang Share Co., Ltd.
- Shandong Yuyuan Group Co., Ltd.
- Shandong Jufu Chemical Technology Co., Ltd.
- Shandong Huijin Chemical Co., Ltd.
- Shandong Huarui Environmental Protection Technology Co., Ltd.
- Hebei Xingtai Shuanghua Chemical Co., Ltd.
- Nantong Acetic Acid Chemical Co., Ltd.
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- Publication date: 5th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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