Calcium Formate Market Report by Technology 4
Calcium Formate Market Report
by Technology, Industry Share and Size Expansion to 2027 | Fortune Business
Insights™
The global calcium formate
market size is projected to reach USD 628.5 million by 2027,
exhibiting a CAGR of 4.0% during the forecast period. Increasing cement
production is likely to emerge as a central growth driver for this market,
finds Fortune Business Insights™ in its report, titled “Calcium Formate Market Size, Share & COVID-19 Impact Analysis, By Type
(Feed Grade, Industrial Grade), By Application (Feed, Construction, Leather,
Chemical, and Others), and Regional Forecast, 2020-2027”. The
International Energy Agency (IEA) estimates that 4.1Gt of cement was produced
worldwide in 2019, with China accounting for nearly 55% of the global
production, followed by India at 8%. By 2030, according to the World Cement
Association, China’s production is forecasted to contract to 35%, while India’s
is set to double to 16%. These changing dynamics augur well for this market as
calcium formate is an essential component in cement manufacturing. This
compound acts as a setting accelerator for cement, working as an additive to
boost the strength of the cement mortar. Thus, rising demand for cement,
especially in developing economies, will provide the necessary fuel for the
growth of the market for calcium formate.
The report states that the global
market value stood at USD 469.4 million in 2019 and also offers the following:
- Microscopic analysis of the impact of the COVID-19 outbreak on the
market; - Granular study of the factors and trends shaping the market;
- Detailed evaluation of the regional dynamics influencing the
market; and - Comprehensive profiling of and in-depth research into the key
market players and their strategies.
Market Restraint
Declining Sales & Profits to Hamper
Companies’ Investment Plans amid COVID-19
The outbreak of the COVID-19 pandemic
has had grave implications for the global chemicals industry, which are hurting
the calcium formate market growth. Lockdowns, social distancing, and trade
restrictions have caused massive disruptions in supply chain networks, while a
severe economic downturn has impacted demand and consumption.
As a result, companies in this market
are reporting an unprecedented loss of revenue, which in turn has forced them
to rethink their investment plans. For instance, in August 2020, the
Germany-based specialty chemicals company, Lanxess, sold off its organic
leather chemicals business for USD 230 million to TFL Ledertechnik GmbH to
reduce its dependence on the automotive industry. With the automotive industry
facing an unparalleled demand crunch amid COVID-19, Lanxess’s divesture from
the leather business seems prudent. In another example, Sweden-based Perstop AB
reported a staggering drop of 32% in its net sales, amounting to SEK 2.08
billion in July 2020, as the company took drastic measures to tackle COVID-19.
These adverse developments are likely to stall the adoption of calcium
methanoate during the current year.
Regional Insights
Surging Construction Activities to
Power the Market in Asia Pacific
Asia Pacific, with a market size of USD
251.4 million in 2019, is anticipated to dominate the calcium formate market
share during the forecast period. The main reason attributable for the prolific
market growth in the region is the rapid expansion of building and construction
activities in India and China. For example, the India Brand Equity Foundation
(IBEF) predicts that India will emerge as the third-largest construction
industry by 2025.
Competitive Landscape
Steady Expansion of Presence in
Fledgling Markets by Key Players to Stir Competition
Key players in this market are intensely focused on strategically expanding
their presence in booming markets in the developing regions around the world.
In implementing this strategy, companies are entering into partnerships and
undertaking acquisitions with regional players to establish operations in
emerging economies.
Industry Developments:
- November 2019: Perstorp
announced plans to invest in a new facility in Gujarat, India, to produce
Pentaerythritol (Penta). The plant will allow Perstorp to meet the rising
demand in Asia for its Penta products as well as produce and distribute
calcium formate in the country. - September 2019: CPS Performance
Materials, a portfolio company under Arsenal Capital Partners, announced
the acquisition of GEO Specialty Chemicals. The acquisition will allow CPS
to add GEO’s diverse chemicals and materials for diverse industries such
as water treatment and paints & coatings to its specialty chemicals
portfolio.
List of the Leading Companies Profiled
in the Global Calcium Formate Market are:
- Chongqing Chuandong Chemical (Group) Co., Ltd. (China)
- Jiangxi Kosin Organic Chemical (China)
- Zibo Ruibao Chemical Co., Ltd. (China)
- GEO Specialty Chemicals (USA)
- Perstorp (Sweden)
- Sidley Chemical Co., Ltd. (China)
- Shandong Baoyuan Chemical Co., Ltd. (China)
- Henan Botai Chemical Building Materials Company Ltd. (China)
- American Elements (USA)
- LANXESS (Germany)
Browse a detailed summary of 135 pages
research report with ToC: https://www.fortunebusinessinsights.com/industry-reports/calcium-formate-market-101683
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends – For Major Countries
- Global Feed Production Overview
- Regulatory Scenario
- Global Cement Consumption Overview
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps Taken by Government/Companies to combat COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Calcium Formate Market Analysis, Insights and Forecast,
2016-2027 - Key Findings / Summary
- Market Analysis, Insights and Forecast
- By Type
- Feed
- Industrial
- Global Calcium Formate Market Analysis, Insights and Forecast,
2016-2027 - Key Findings / Summary
- Market Analysis, Insights and Forecast
- By Application
- Feed
- Construction
- Leather
- Chemicals
- Others
TOC Continued…!
Have a Look at Related Research
Insights:
Cement Market Size, Share &
Industry Analysis, By Type (Portland, Blended, and Others), By Application
(Residential, and Non-Residential), and Regional Forecast 2019-2026
Fly Ash Market Size, Share &
Industry Analysis, By Type (Class F and Class C), By Application (Cement &
concretes, Fills & embankments, Waste Stabilization, Mining, Oil field
Service and Road Stabilization and Others), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate
data, helping organizations of all sizes make timely decisions. We tailor
innovative solutions for our clients, assisting them to address challenges
distinct to their businesses. Our goal is to empower our clients with holistic
market intelligence, giving a granular overview of the market they are
operating in.
Our reports contain a unique mix of
tangible insights and qualitative analysis to help companies achieve
sustainable growth. Our team of experienced analysts and consultants use
industry-leading research tools and techniques to compile comprehensive market
studies, interspersed with relevant data.
At Fortune Business Insights™, we aim
at highlighting the most lucrative growth opportunities for our clients. We,
therefore, offer recommendations, making it easier for them to navigate through
technological and market-related changes. Our consulting services are designed
to help organizations identify hidden opportunities and understand prevailing
competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/calcium-formate-market-9384
Report This Post
Please complete the following requested information to flag this post and report abuse, or offensive content. Your report will be reviewed within 24 hours. We will take appropriate action as described in Findit terms of use.
