Calcium Formate Market: Lucrativeness of the Food Additive and Silage Treatment Industry Boost Demand
July 18, 2019 by Steve Blade
A recent study published by Fact.MR finds that sales of calcium formate exceeded 1,100 tons in 2018 and are anticipated to register a 3.5% Y-o-Y growthin 2019. A cohort of drivers including favourable government regulations supporting the production process of calcium formate to achieve gas desulphurization and its niche applications in tile adhesives and textiles industry have been determining the growth of the calcium formate market.
The study highlights that the upgraded lifestyle of consumers and the subsequent inclination towards premium products have led to a notable rise in the demand for calcium formate. Achieving tanned leather for its application in enhancement of design pizzazz of automotive interiors, footwear, garments, and furniture, has been among the key boosters to calcium formate demand. A growing interest of governments as well as non-governmental entities in environmental sustainability is collectively contributing towards achieving reduced sulphur dioxide emission from power plants, which is thereby generating demand for calcium formate as an additive to reactors, with an objective to promote dissolution of calcium carbonate and improve efficiency of desulphurization.
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Calcium Formate Market in Numbers:
Opportunities Abound in Animal Feed and Silage Treatment Industry
The study reveals that the demand for calcium formate in animal feed and silage treatment industry is anticipated to witness a remarkable rise, as governments of numerous countries implement regulations on health enhancers used in animal feed. The need for nutrition-rich feed that benefit the digestive health of animals has influenced the adoption of additives and preservatives to achieve healthy growth of livestock. Additionally, growing consumption rate of meat and poultry products, which has proliferated demand for livestock, continues to create lucrative opportunities for the calcium formate manufacturers. According to the study, calcium formate sales in the animal feed and silage treatment industry will register a CAGR of over 4% through 2029.
Key Growth Drivers of Calcium Formate Market
Calcium Formate Market – Competitive Landscape
The calcium formate market remains highly fragmented in nature, with significant barriers to new entrants. While new product developments and launches remain key strategies of leading players, the focus also remains strong on collaborations with mid-sized industries to materialize their long-term manufacturing and distribution goals.
Leading players have a robust occupancy and distribution in developed as well as developing markets, collectively accounting for approximately 40% calcium formate sales. The strategies employed by leading players continue to contradict the ones put in action by mid-level players.
‘Buy and build’ remains a key strategy for the market leaders, as their efforts are geared towards strengthening their global footprint with the help of sound infrastructures and streamlined distribution. These players cater to niche applications in key industry sectors including electronics, construction, coatings, oil and gas, rubber, and water treatment.
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