Calcium Formate Market Demand, Key players Analysis, 2032

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,

Source

https://www.fortunebusinessinsights.com/industry-reports/calcium-formate-market-101683

This compound acts as a setting accelerator for cement, working as an additive to boost strength of the cement mortar. Thus, rising demand for cement, especially in developing economies, will provide the necessary fuel for the growth of this market.

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 severe economic downturn has impacted demand and consumption.

As a result, companies in this market are reporting 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.

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.