This Fact.MR report lends a detailed forecast of the calcium formate market for the period between 2019 and 2029. The calcium formate market is estimated to register a CAGR of over 5% through 2029. 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 growth in 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 calcium formate market growth.
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.
The role of calcium formate as a de-icing agent has been significant. According to the report, application of urea-mixed calcium formate as a de-icer allows for effective ice melting with relatively reduced corrosion of cement and steel surfaces, when compared to the efficiency of other de-icing agents. Moreover, as the automotive industry remains highly influenced by increasing passenger safety regulations, it is highly likely that calcium formate sales will surge in line with the growing need for production of voluminous gas to be filled in air bags.
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Effective Calcium Formate Alternatives Penetrating End-use Industries
In contrary to the traditionally used prophylactic antibiotics in disease prevention and growth promotion in pig and poultry feedstock, calcium formate has been emerging as an effective feed additive. Studies have also identified the growing trend of use of calcium formate as a preservative promoting gut health with its acidifying effect on gastrointestinal (GI) tract. The effectiveness of calcium formate in reducing pH levels within the GI tract has been proven to account for restricted bacterial growth, which will continue to solidify its status as an effective feedstock preservative. 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.