Calcium Formate Market Analysis:
Calcium formate is an odorless, calcium salt of formic acid (HCOOH), with chemical formula Ca (HCOO)2. It is a pure white crystalline, which flows freely. It is used for reinforcing/strengthening and plastering of concrete as it increases the speed of settling of concrete. In addition, it is a great source of calcium and builds the ions together that evaporate and react with aqueous solution. Calcium formate is quickly replacing calcium chloride as an accelerator in the construction industry due to its key features such as corrosion resistance to steel and improving strength of cement mortar. The calcium formate market is mainly driven by cement and concrete industries. Therefore, calcium formate as an accelerator in concrete applications reduces the time to set up, works well at low temperatures, and protects metals from corrosion. In addition, calcium formate has the potential for increased hydration; therefore, it makes the concrete base strong and enables to reduce time by strengthening it at an early stage.
COVID-19 scenario analysis:
- During COVID-19, the demand for agriproducts is expected to decline for some time; however, it is projected to witness upward trend in the coming months. This leads to increased demand for calcium formate as it has major usage in the agriculture sector to increase food productivity by improving soil fertility.
- Supply gap may hinder the market performance at present due to lockdown and shutdown of major manufacturing sites.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Calcium is highly adopted in the cement industry, chemicals, fabrics, and for skin smoothing. The demand for pet diet applications has increased due to the need for healthy, nutritious food products that are beneficial to animal health. Therefore, increase in demand for chicken and other poultry products leads to increased demand for calcium formate, which is used in the manufacturing of chicken and poultry products. The calcium formate market also witnesses huge demand from the construction industry as it is used in the cement & concrete industry. Increased applications in manufacturing and processing industries are also presenting positive impact on the calcium formate market.
Restraints of this market are fluctuating prices of raw materials required for the production, high production cost due to low efficiency, and high energy required for the manufacturing process. Asia-Pacific is the major contributor to the calcium formate market due to expansion of construction activities in developing countries such as India and China. The rapidly growing construction sector is becoming an opportunity of growth for the calcium formate market.
Key benefits of the report:
- This study presents the analytical depiction of the calcium formate market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the calcium formate market share.
- The current market is quantitatively analyzed to highlight the calcium formate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the calcium formate market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Calcium Formate Market Report Highlights
By Industry Vertical
Key Market Players
Shandong Xinruida Chemical Industry, Zibo Ruibao Chemicals Co., Chongqing Chuandong Chemical Company Limited, Geo Speciality Chemicals, Zouping Fenlian Chemical Company, LANXESS AG