Calcium Formate Market is estimated to grow at a CAGR of 5.2% from 2021 to 2028
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Rising demand for calcium formate from building & construction industry is a significant factor driving global market revenue growth
VANCOUVER, BC, CANADA, June 21, 2022 /EINPresswire.com/ -- The global calcium formate market size is expected to reach USD 841.2 Million at a steady CAGR of 5.2% in 2028, according to latest analysis by Emergen Research.
Steady global calcium formate market revenue growth can be attributed to rising demand for calcium formate from the building & construction industry. Calcium formate finds application in enhancing the setting rate of cement and to prevent slowing down of condensation speed under low temperature, as well as to increase construction strength. Also, calcium formate as an additive, does not have any corrosive effect on steel reinforcement.
Growth in the automotive industry is playing a crucial role in boosting market growth, and calcium formate is used to improve the transference of gas to airbags is safety systems deployed for passenger and driver safety in vehicles. Growing emphasis on passenger safety by automotive manufacturers and calcium formate efficiency in enhancing airbags by improving the transference of gas to airbags are some key factors driving market growth.
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The report further sheds light on the competitive landscape of the Calcium Formate market to offer the readers an advantage over others. The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions.
The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
Key players in the market include Geo Specialty Chemicals Inc., Lanxess AG, Zibo Ruibao Chemical Co. Ltd., Perstorp AB, Henan Botai Chemical Building Materials Co. Ltd., Sidley Chemical Co. Ltd., American Elements, Hangzhou Focus Chemical Co. Ltd., Gelest Inc., and Shandong Baoyuan Chemical Co. Ltd.
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Key Highlights from the Report
In April 2020, Mitsubishi Chemical Corporation announced that it had signed a definitive agreement for the acquisition of shares of Gelest Intermediate Holdings, Inc., through its subsidiary company, Mitsubishi Chemical America, Inc.
Rising demand for industrial grade calcium formate from building & construction, textile & leather, power generation, and chemicals industries is propelling revenue growth of the industrial grade segment.
In the leather industry, calcium formate finds application as a masking agent in chrome leather tanning. Use of calcium formate in formulations for tanning helps in faster and more efficient penetration of chrome in leather.
Emergen Research has segmented the global calcium formate market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Feed Grade
Industrial Grade
Application Outlook (Revenue, USD Billion; 2018–2028)
Feed Additives
Concrete Setting
Tile & Stone Additives
Leather Tanning
Flue Gas Desulfurization
Textile Additives
Drilling Fluids
Others
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
Online
Offline
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Building & Construction
Animal Husbandry
Leather & Textile
Energy & Power
Chemicals
Others
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Calcium Formate Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Calcium Formate Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Calcium Formate Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Calcium Formate Market
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