Calcium Formate Market to Reach USD 627.1 Million by 2026; Increasing Demand for Cement to Fuel the Market: Fortune Business Insights

The global calcium formate market size is set to touch USD 627.1 million by 2026, registering a CAGR of 4.2% during the forecast period. Rapid expansion of construction industry around the globe will be the primary driving force behind the growth of this market. According to a study published by Oxford Economics, the global construction industry is expected to grow at about 3.9% annually till 2030, with majority of this growth slated to occur in the three major economies of the US, China, and India, accounting for nearly 57% of the growth. Furthermore, the study reveals that output from construction will increase by a staggering 85% in the next decade at a value of around USD 15.5 trillion by 2030. Calcium formate is an integral component in the production of concrete and cement-based products. Thus, with the expected rise in construction activities around the world, the demand for the compound will rise correspondingly.