Calcium formate is used as cement additive and concrete accelerator, tile adhesives and cement-based mortars. The growth in the consumption of cement from the construction industry effectively boosts the demand for calcium formate market.
Calcium fromate is used as a cement additive in the construction industry for quick setting and increasing hardness of cement products. Cement is also used in the production of various products such as bricks and blocks, slabs and sheets, adhesives and concrete. In addition, calcium formate is also used as an inhibitor, PH regulator, corrosion protector to substrates of buildings and infrastructure, and for cementation of oil drilling. It is mostly used in the production of concrete in China which is one of the most dominant countries in the production and consumption of cement. Thus, the growing demand of cement in the construction industry is driving the market for calcium formate
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The global calcium formate market size is estimated to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application areas of calcium formate ranging from leather and textile to the construction industry. Increasing demand from APAC will further drive the growth of the global calcium formate market.
The construction industry will continue to lead the calcium formate market, , accounting for a share of 29.7% of the overall market, in 2019 terms of value. Increasing construction and infrastructural activities is expected to boost the rising demand for cement and concrete in the near future. The use of calcium formate as an accelerator in the concrete setting application decreses the setting time and increases the strength, thus boosting the global calcium formate market
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APAC is estimated to be the leading calcium formate market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for calcium formate from the end-use industries, especially construction, leather & textile and animal husbandry. The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these calcium formate additives in the APAC and Europe.