Calcium Formate Market: Sales of Calcium Formate Closed in on US$ 1,500 Mn in 2018
A new report published by Fact.MR on calcium format market lends a comprehensive and long-term forecast for the period, 2019-2029. A large number of factors influencing the growth of the calcium formate market are studied along with their degrees of impact. The research report provides insights into the competitive landscape to comprehend the key strategies adopted by the participants operating in the calcium formate market.
[ClickPress, Tue Jul 16 2019] A new report published by Fact.MR on calcium format market lends a comprehensive and long-term forecast for the period, 2019-2029. A large number of factors influencing the growth of the calcium formate market are studied along with their degrees of impact. The research report provides insights into the competitive landscape to comprehend the key strategies adopted by the participants operating in the calcium formate market.
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 growthin 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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Key Challenges Encountered by Stakeholders Operating in Calcium Formate Market?
- Volatility in the prices of raw materials, namely, formic acid and calcium carbonate, used for the production of calcium formate, remains a key challenge for manufacturers, apart from the issues ascending from high energy consumption and low process efficiency that sum up to a hefty production cost. This has further led manufacturers to look for effective alternatives to cut down production cost and improve profit margins.
- Growing cognizance pertaining to the superior efficiency of calcium chloride in accelerating the settling time of Pozzolanic and Portland cement has been impacting the sales of calcium formate in the construction industry.
Opportunities Abound in Animal Feed and Silage Treatment Industry
The study reveals that the demand for calcium formate in animal feed and silage treatment industry is anticipated to witness a remarkable rise, as governments of numerous countries implement regulations on health enhancers used in animal feed. The need for nutrition-rich feed that benefit the digestive health of animals has influenced the adoption of additives and preservatives to achieve healthy growth of livestock. Additionally, growing consumption rate of meat and poultry products, which has proliferated demand for livestock, continues to create lucrative opportunities for the calcium formate manufacturers. According to the study, calcium formate sales in the animal feed and silage treatment industry will register a CAGR of over 4% through 2029.
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.
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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