Calcium Formate Market to Expand at US$ 575 Mn by 2027

Key Highlights:

In terms of revenue, the global calcium formate market is anticipated to expand at a CAGR of ~ 4% from 2019 to 2027.
The demand for calcium formate is projected to be significant as an alternative for prophylactic antibiotics in animal diets in the near future, with the approaching ban on the use of prophylactic antibiotics in animal feed. Calcium formate is used to limit the proliferation of pathogenic bacteria in the animal gut, which can impair feedstock digestion.
The concrete-setting accelerators application segment of the global calcium formate market is projected to witness rapid growth during the forecast period. It is projected to expand at a CAGR of ~ 4%, in terms of value, between 2019 and 2027. The global cement & concrete industry is likely to witness significant demand for accelerating admixtures in the near future. Accelerating admixtures are added to concrete, either to increase the rate of early development of strength, or to shorten the setting time, or for both purposes.
Volatility in the prices of formic acid and other raw materials is likely to hamper the global calcium formate market in the next few years.
China was a major market for calcium formate in 2018. Calcium formate is estimated to witness significant demand from the construction industry in China between 2019 and 2027, for use in various applications such as ceramic tile adhesives, cement-based plaster mortar, repair mortar, waterproof mortar, thermal mortar, and wear-resistant ground and putty.

To know more, Request Sample@

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17939

Key Drivers and Restraints of the Global Calcium Formate Market:

The global animal feed industry has been witnessing significant growth over the last few years. Global animal feed production increased from 954.2 million metric tons in 2012 to 1,103 million metric tons in 2018. Factors such as increase in the population of livestock and rise in the awareness about feed quality are likely to drive the demand for calcium formate for use as a feed additive, during the forecast period.
According to the United Nations (UN) Department of Economic and Social Affairs, the number of cities with more than 500,000 inhabitants in Asia is estimated to rise by 30% by 2030. Increase in the pace of urbanization is estimated to augment construction and infrastructure development activities in Asia during the forecast period.
As per statistics by the U.S. Geological Survey, global cement production has risen substantially over the last decade. For instance, cement production in India surged to about 297 million tons in 2018 from 230 million tons in 2011.
Calcium formate is a soluble organic salt and it is extensively used in the construction industry as a low-cost and effective concrete and cement accelerator, as well as a tile adhesive. However, the market may face a significant threat of substitutes in the near future, as a variety of other soluble organic and inorganic salts are available to be used to accelerate setting and/or hardening of cement.

For More Information,Request Brochure@

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=17939