The calcium formate market is likely to grow at a compounded annual growth rate of 4.2% during the forecast period and will reach US$ 804.7 million by the end of 2033.

Since calcium formate is also used in significant quantities in the tanning of leather, it is expected that sales of luxury products made from leather would increase as the global market gets boosted by an expanding base of high net worth individuals. Rising demand for products derived from animals in the long term, and the growing world population, should also have the same effect on the consumption of calcium formate.

Over the next ten years, other factors will continue to impact market potential based on the pace of industry and urbanisation, infrastructure development spending, and increasing additive applications in construction uses, as well as in the growth of calcium compounds such as calcium methanoate, calcium citrate, and calcium sulphate, among others.

Key Companies Profiled in this Report

Shandong Baoyuan Chemical Co.
Zouping Fenlian Chemical Co. Ltd.
Jiangsu Ruiyang Chemical Co. Ltd.
Lanxess AG
GEO Specialty Chemicals
Feicheng Acid Chemical Co. Ltd.
PuYang YongAn Chemical Co. Ltd. (YACC)
ZIBO RUIBAO CHEMICAL CO. Ltd.
Perstorp Holding AB Ltd.

Critical Factors That Will Define Future Growth

Calcium Formate finds applications in the construction and animal nutrition industries. In the field of construction, it finds extensive application as an additive in cement-based formulations and hence, its demand is also driven by the growth in urbanization, infrastructure projects, and residential and commercial construction activities. The additive use of calcium formate in animal nutrition is an important application due to its requirement as a feed additive to help maintain the health, growth, and performance of livestock amid increasing demand for better animal protein products such as meat, milk, and eggs. Furthermore, tightened environmental regulations and increased emphasis on sustainability drive its market growth and place calcium formate as one of the preferred environment-friendly alternatives with lower carbon footprint and biodegradability. The continuous research and development in concrete technology increase its potential for application and bring forth the promise of further improvements, particularly in setting time and early development of strength, as well as durability under freezing and thawing cycles for specialized concrete formulations.

Competitive Landscape

Against this backdrop of intense competition in the manufacturing of calcium formate, some major firms increase their market share through mergers, acquisitions, and collaborations. LANXESS AG, a German specialty chemicals company, has recently acquired the microbial control business of International Flavors & Fragrances Inc. in July 2022, speaking for the same idea. It is eyeing this move to complement its existing offering of preservatives, disinfectants, and antimicrobial ingredients with more diversified products for the end-users.

With growing applications, the key players in the calcium formate market are likely to increase spending on research and development. Such investments will go toward increasing the application scope of calcium-based chemicals while increasing the production capacity to meet growing demand worldwide. That lucidly explains the focus of the industry on innovating and expanding its capacity in light of emerging market trends and sustainability objectives.

How big is the calcium formate market?

The market value is pegged at US$ 530.1 million in 2023 and is expected to reach US$ 804.7 million by 2033 at a 4.2% CAGR.

What is calcium formate used for?

Calcium formate is used in tile adhesives, concrete accelerators, leather tanning, and as a feed additive in animal feed.

Which are the Key Companies Profiled in the calcium formate market?

Key companies profiled in the calcium formate market include Shandong Baoyuan Chemical Co., Zouping Fenlian Chemical Co. Ltd., Jiangsu Ruiyang Chemical Co. Ltd., Lanxess AG, GEO Specialty Chemicals, Feicheng Acid Chemical Co. Ltd., PuYang YongAn Chemical Co. Ltd. (YACC), ZIBO RUIBAO CHEMICAL CO. Ltd., Perstorp Holding AB Ltd., Chongqing Chuandong Chemical (Group) Co. Ltd., Hangzhou Focus Chemical Co. Ltd., Shandong Xinruida Chemical Industry Co. Ltd., and Hubei Hengxin Chemical Co. Ltd.