Calcium Formate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Calcium formate has been utilized a wide spectrum of industries. The compound has been used commercially as accelerators for cement and concrete admixtures. Demands in the calcium market have been bolstered by the rising use in leather tanning applications typically for chrome-tanning processes. The demand for various formulations in making ensiling agents for silage treatment applications has also bolstered revenue generation in the calcium formate market. The use of calcium formate promotes anaerobic fermentation in silage treatment. Other prominent application areas in the calcium formate market are gas generation, flue-gas desulfurization, safety explosives, and as de-icing agent in steel and cement manufacturing. Perhaps, the most prominent trend is growing use of industrial grade calcium formate in the concrete and cement industries.
However, a great deal of the growth dynamic in the calcium formate market hinges on the prevailing regulatory landscape in various regions. A case in point is the demand dynamic in the animal feed industry. Hence, the measures adopted by various stakeholders in the calcium formate market are expected to play crucial role in the future evolution on the market during the period of 2019-2029.
Revenue generation in the calcium formate market has benefitted from the growing uptake of the chemical in the animal nutrition industry, where it has gained popularity as an acidifier. The worldwide popularity stems from growing body of research in the use of organic acids to boost the nutritional profile of animal feed products. However, since, animal feed products are well-regulated in several industrialized nations, this has hampered the prospects of the calcium formate market.
On the other hand, this has also guided policy interventions in the U.S. and several economies in the European Union, driving the strategic shifts of animal feed manufacturers seeking to tap into the growth of the calcium formate market. Growing demand for more meat in various parts of the world is a key factor filliping demand for better-quality animal feed. The trend is evident in pig and poultry feedstock. The compound works by lowering the pH in the gastro-intestinal tract.
Over the past few years, product sales in the calcium formate market have been propelled by its use as E238 biological additive in cosmetology and food industry. Advent of new conversion methods for preparing calcium formate has made a significant impetus to the evolution of the market.
A body of research in murine models has emphasized on the low toxicity of calcium formate in various formulations. Chemical companies in the calcium formate market are expected to put bets on the growing consumption of the compound in the animal feed industry. They are coming out with new formulations in poultry and swine diets which can comply with regional regulations. A case in point is a new feed additive unveiled recently by the U.S.-based animal feed company Novus International. The product comprised of three compounds including calcium formate. The product has been gathering positive reviews from European Food Safety Authority. The feed additive is used as a zootechnical additive in chickens feed to aid in their fattening, thereby expected to be beneficial for poultry farmers.
On the regional front, North America, Europe, and Asia Pacific are expected to be prominent regions in the calcium formate market. Sheer pace of industrialization in several economies of the regions has underpinned the expansion of the calcium formate market. Rising application in cement and leather industries is fueling the growth in the market. Strides being made animal feed industries in the developed regions of North America and Europe have cemented the size of the demands in these regions.
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