Calcium Formate Market to Hold a High Potential for Growth by 2027Albany, New York: Calcium formate market is picking up popularity from various industrial sectors, including leather industry, cement and concrete sector, and animal feed. But, the current research about the advantages of including organic acids in fertilizers has opened new roads of development for calcium formate in the animal feed sector. Popularity of calcium formate in the packaging and manufacturing sectors has witnessed a noteworthy growth lately, as a perfect additive to prevent erosion in molding and wire-shaping
The rising utilization of organic acids in animal nutrition has stimulated research activities in the calcium formate market, setting off the business applications of feed grade calcium formate in animal nutrition. Recently a novel report is added by Researchmoz.us, titled, “Calcium Formate Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.” The report highlights the factors behind the increase in demand for calcium formate in global market. It stresses on the past and present stats to fortify the claims. Moreover, the analysts also provide the hindering factors that are likely to decline the market growth in the upcoming years.
Rising Use of Industrial Grade Calcium Formate to Uplift Market Growth
The essential factor propelling growth in the calcium formate market is increasing uses of industrial grade calcium formate in the cement and concrete industries. Nonetheless, the rise of its substitutes, for example, chlorides, carbonates, thiosulfates, thiocynates, bromides, fluorides, nitrates, silicates, alkali, and aluminates in concrete and cement applications, particularly in the construction industry, has been hampering market development.
Calcium formate gradually replaced calcium chloride as a setting-accelerator in the construction business, owing to factors, for example, protecting corrosion in steel constructions, improving strength of cement mortar. This, combined with the outstanding increase in the infrastructure development in developing economies, keeps on increasing the demand for calcium formate. Growth in animal nutrition sector has implied that demand for effective animal feed additives are likely to accomplish better conversion rate, which has increased popularity of calcium formate as an added substance in feed pre-blends, to upgrade their digestion and stomach health.
As governments across the globe take measures to phase-out growth-enhancing medicines to make sure of animal welfare safety, feed makers are including calcium formate as an additive to bring down the pH level and upgrade the animal gut health.
Fluctuating Raw Material Cost to Hinder Market Demand
Unpredictability in the costs of raw materials, to be specific, calcium carbonate and formic acid, utilized for the making of calcium formate, stays a major issue for makers, apart from the issues rising from high energy utilization and low process productivity that results in increased production cost. This has additionally driven makers to search for compelling choices to cut down manufacturing cost and improve overall revenues.
Europe and North America, in 2018, accounted for 33% income share, recording highest sale in tile and cement additive applications. The demand regarding calcium formate is estimated to surge quickly in developing areas, affecting the remarkable business strategies of players in the calcium formate market. Market players are concentrating on utilizing the upward industrial development, particularly in the concrete, leather industry, and animal feed sector in Asia Pacific.
The global market for calcium formate is expected to be highly concentrated with rising number of SMEs and new entrants in the market. Some of the main players in the global calcium formate market are Perstorp, LANXESS, Zibo Ruibao Chemical and so on.