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Calcium Formate Market Size and Share
Analysis: Key Industry Insights to 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, The International
Energy Agency (IEA) estimates that 4.1Gt of cement was produced worldwide in 2019, with China
accounting for nearly 55% of the global production, followed by India at 8%. By 2030, according to
the World Cement Association, China’s production is forecasted to contract to 35%, while India’s is
set to double to 16%.
The calcium formate market is witnessing steady growth, driven by its increasing application across
various industries. As a multifunctional chemical compound, calcium formate is used extensively in
industries such as construction, leather tanning, animal feed, and chemicals. The growing demand
for faster construction activities and efficient industrial processes has propelled the calcium formate
market. This report provides an analysis of the market size, share, key drivers, and segmentation
that impact the calcium formate industry globally.
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101683
Segmentation Analysis:
The calcium formate market can be segmented based on application, end-user industry, and
geography.
By Application:
 Cement and Concrete Additives: Calcium formate accelerates the setting and hardening of
concrete, making it an essential additive in the construction sector.
 Animal Feed Additive: It is used as a feed additive to improve the health and growth of
livestock, particularly in pigs and poultry.

Leather Tanning: Calcium formate is used in the leather industry to enhance leather
properties.
 Chemical Industry: As an intermediate or pH regulator in various chemical reactions, calcium
formate plays a crucial role in industrial chemical processes.
By End-User Industry:
 Construction: The largest consumer segment of calcium formate, driven by infrastructural
projects and the global demand for faster and more efficient construction materials.
 Animal Husbandry: The use of calcium formate as a feed additive is expanding with the
increase in meat consumption and livestock farming.

Leather: The global demand for high-quality leather products supports the use of calcium
formate in leather tanning processes.
 Chemicals and Pharmaceuticals: Calcium formate's role in various chemical processes and
as a preservative in the pharmaceutical industry is gaining traction.
By Geography:
 Asia-Pacific: The Asia-Pacific region dominates the calcium formate market, particularly due
to rising demand in construction and animal feed industries in China and India.
 Europe: Europe is a significant market for calcium formate due to its well-established leather
and construction industries, with Germany being the key player.
 North America: Steady demand from the construction and chemicals sectors drives the
market in North America.

Latin America and Middle East & Africa: These regions are witnessing moderate growth,
primarily driven by the construction and animal husbandry industries.
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. With the automotive industry facing an unparalleled
demand crunch amid COVID-19, Lanxess’s divesture from the leather business seems prudent. In
another example, Sweden-based Perstop AB reported a staggering drop of 32% in its net sales,
amounting to SEK 2.08 billion in July 2020, as the company took drastic measures to tackle COVID-
19. These adverse developments are likely to stall the adoption of calcium methanoate during the
current year.

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Key Market Drivers:
Several factors contribute to the growth of the calcium formate market. These key drivers include:

Increased Demand in the Construction Industry: The primary use of calcium formate in the
construction industry as a setting accelerator in cement and concrete is a major growth
factor. Rapid urbanization and industrialization in emerging economies, coupled with
infrastructural development projects, are bolstering demand.
 Expanding Use in Animal Feed Additives: Calcium formate serves as a preservative and feed
additive in the animal nutrition sector, especially for pigs and poultry. Rising concerns over
animal health and improving feed quality are fostering its demand in agriculture.
 Growing Leather Tanning Industry: The demand for calcium formate in the leather industry
is on the rise, as it is used in tanning processes to enhance the quality of leather goods.
 Chemical and Pharmaceutical Applications: The compound is used as an intermediate in
several chemical manufacturing processes. Its application in pharmaceuticals, especially as a
preservative and pH regulator, is further enhancing its market share.
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.

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List of Key Companies Profiled in this Market Report:
 Chongqing Chuandong Chemical (Group) Co., Ltd. (China)

Jiangxi Kosin Organic Chemical (China)
 Zibo Ruibao Chemical Co., Ltd. (China)
 GEO Specialty Chemicals (USA)
 Perstorp (Sweden)
 Sidley Chemical Co., Ltd. (China)
 Shandong Baoyuan Chemical Co., Ltd. (China)
 Henan Botai Chemical Building Materials Company Ltd. (China)
 American Elements (USA)

LANXESS (Germany)
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