Calcium Formate Market Size, Share, Analysis, Trends, Growth, 2032

Calcium Formate Industry Prospective:

The global calcium formate market size was worth around USD 617.1 million in 2023 and is predicted to grow to around USD 893.7 million by 2032, with a compound annual growth rate (CAGR) of roughly 4.20% between 2024 and 2032.

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Calcium Formate Market: Overview

Calcium format is derived from formic acid in the form of its calcium salt. In the field of chemistry, it is also known as E238. The demand for calcium formate has grown over the years, driven by increasing application of the compound in several end-user verticals.

For instance, chemical formate is widely used across Europe as an animal feed additive. However, it is not recommended to be consumed by humans in any form in European territories.

Furthermore, the industry has found steadily rising demand in the building & construction industry, especially as a concrete setting agent in countries with colder temperatures.

Certain studies surrounding calcium formate suggest that the compound can be considered a safe substitute for other calcium supplements for humans in restricted quantities and by the recommendation of medical professionals.

The calcium formate industry is projected to deliver exceptional growth results during the forecast period due to growing government initiatives to promote the chemicals & materials industry.

Alongside, the market can also benefit from an increase in the end-vertical demands for calcium formate. However, supply chain disruptions and seasonal demand rates may impact the overall growth revenue.

Key Insights:

• As per the analysis shared by our research analyst, the global calcium formate market is estimated to grow annually at a CAGR of around 4.20% over the forecast period (2024-2032)
• In terms of revenue, the global calcium formate market size was valued at around USD 617.1 million in 2023 and is projected to reach USD 893.7 million by 2032.
• The calcium formate market is projected to grow at a significant rate due to the increasing investments in the chemicals & materials industry.
• Based on end-user industry, the tile feed additives segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on type, the industrial-grade segment is anticipated to command the largest market share.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Calcium Formate Market: Growth Drivers

Increasing investments in the chemicals & materials industry will drive the market demand rate

The global calcium formate market can benefit directly from the increasing investments in the chemicals & materials industry. The growing world population, intense industrialization, and urbanization have led to exponential demand for several types of chemicals and materials produced by the industry.

According to the latest statistics submitted by the petrochemical industry of India, the country can expect a total investment of more than USD 142 billion in the coming decade.

Similarly, other countries are opening new avenues for foreign and domestic investment in the chemicals sector to meet the surging end-user demand. China, on the other hand, offers several direct and indirect incentives to companies investing in the region’s chemical sector. As more funds pour into the global chemicals sector, investments in calcium format are likely to register newer heights.

Higher demand in the construction & building segment to promote market revenue in the long run

E238 has extensive applications in the construction & building industry. It is generally used for concrete setting additives. The demand for calcium formate is especially high in countries with colder temperatures as the compound assists in speeding up the process of concrete setting.

Furthermore, studies indicate that adding the right amount of calcium format can also improve the concrete's overall strength. The rising investments in the global construction sector fueled by increased demand for affordable housing along with rising infrastructure development projects will aid further growth in the global calcium formate market.

In addition to this, countries across the globe are investing in re-developing legacy infrastructure, which will help drive the consumption of the compound.

For instance, Europe is currently registering the development of a new engineering and off-site manufacturing facility in the Schoenebeck region.

The use of calcium formate also extends to infrastructure projects such as bridges, roads, and others. In November 2024, China entered the new phase of the ambitious Belt and Road initiative, connecting multiple countries.

Calcium Formate Market: Restraints

Competition from alternate solutions across industries will limit the growth rate in the market

The global calcium formate industry is projected to be restricted due to the high competition from alternate solutions. Each industry, including concrete settings or animal feed additives, has a large number of options that can easily substitute calcium formate. This leads to extreme market fragmentation, resulting in reduced profits.

For instance, compounds such as sodium formate, Triethanolamine (TEA), calcium chloride, and others are predominantly used in the construction industry.

In addition, supply chain disruptions in the chemicals and materials industry caused by external factors such as changing geopolitical relationships and world order may impact the overall revenue.

Calcium Formate Market: Opportunities

Surging demand in the textile and leather industries will generate growth opportunities

The global calcium formate market is anticipated to generate growth opportunities due to the surge in demand in the textile and leather industries.

According to market research, calcium formate is integral to the chrome tanning process of leather and hence enjoys considerable demand. The use of the compound ensures faster and better penetration of chrome in leather-based products.

Moreover, in the textile industry, it has applications in the printing and dyeing processes of textile products. The growing demand for clothing and other items associated with the textile industry will promote higher use of calcium formate.

The rising world population has resulted in increased pressure on the textile sector, which is further influenced by the growth of the fast-fashion industry and the emergence of online retailers. Governments worldwide have launched several novel initiatives to drive investments in textile and leather-based businesses.

The luxury clothing segment could be critical to shaping the consumption rate of calcium formate as the sector enjoys heavy demand for exclusive leather-based items.

In July 2024, Tata International, the global trading arm of Tata Group, announced the launch of Phoenix Leather, which is an eco-friendly alternative to traditionally used leather. The product is available under the Earthcare Leather range.

Calcium Formate Market: Challenges

Regulatory hurdles to challenge the overall market revenue in the industry

The global industry for calcium formate is expected to be challenged by the regulatory hurdles associated with the compound. Like other chemicals and materials, market players must ensure compliance with regional laws permitting the use of calcium formate across industries within permitted limits.

In addition, the health risks associated with long-term exposure to calcium formate may further discourage the use of the compound.

Calcium Formate Market: Segmentation

The global calcium formate market is segmented based on end-user industry, type, and region.

Based on the end-user industry, the global market segments are textile additives, feed additives, flue gas desulfurization, leather tanning, tile & stone additives, and others.

In 2023, the highest growth was listed in the tile feed additives segment. It held control over more than 27.05% of the total market share driven by the regulatory frameworks allowing the use of calcium formate in animal feed.

The compound helps prevent bacterial growth in animal fodder when used in appropriate quantities. The tile & stone additives sector is equally important for the market players due to the extensive revenue generated in the industry.

Based on the type, the calcium formate industry segments are feed grade and industrial grade. In 2023, the highest demand was listed in the industrial grade segment due to several end-user applications.

In 2023, it generated more than USD 0.45 million in revenue. The surge in applications in the construction industry was a critical segmental growth driver alongside use in the rubber and textile segment.

The feed grade segment was also a significant revenue generator driven by higher use of the compound in improving the shelf life of animal feed.

Calcium Formate Market: Report Scope

Calcium Formate Market: Regional Analysis

Asia-Pacific to drive the market demand rate during the projection period

The global calcium formate market will be led by Asia-Pacific during the forecast period. China is expected to emerge as the largest regional market revenue generator.

The presence of a robust chemical manufacturing sector in China is one of the biggest contributors to the region’s dominance. According to official reports, the Chinese chemical industry contributes around 45% of the global chemical supply.

In addition, Asia-Pacific has a higher consumption value of calcium formate. For instance, the regional construction & building industry is registering a surge in investments from domestic and international players.

The construction of several state-of-the-art buildings, including affordable yet luxurious residential buildings influenced by the region's rapid urbanization rate, has helped fuel the usage of chemical formate. During the forecast period, China’s construction market is expected to deliver a CAGR of more than 7%.

On the other hand, the regional textile industry has been the backbone of the global clothing & accessories sector. Most textile-based items are manufactured in Asian countries such as India, China, Bangladesh, and Pakistan, resulting in higher regional revenue in the calcium formate segment.

Calcium Formate Market: Competitive Analysis

The global calcium formate market is led by players like:

• Zibo Ruibao Chemical
• LANXESS
• Hengxin Chemical
• BASF SE
• American Elements
• Mudanjiang Hongli Chemicals
• Perstorp
• Shanxi Xinzhou Chemical
• Shandong Baoyuan Chemical
• Zouping Fenlian Chemical
• GEO Specialty Chemicals
• Spectrum Chemical
• Feicheng Acid Chemical
• Sidley Chemical Co. Ltd.
• Jiangxi Kosin Organic Chemical

The global calcium formate market is segmented as follows:

By End-User Industry

• Textile Additives
• Feed Additives
• Flue Gas Desulfurization
• Leather Tanning
• Tile & Stone Additives
• Others

By Type

• Feed Grade
• Industrial Grade

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa