Calcium Formate Market Share

APAC Market Statistics

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2037, owing to the growing chemical industry in the region. In the Asia Pacific region, small and medium-sized businesses in the domestic chemicals sector were anticipated to post more than 15% revenue growth in FY22 as a result of improved domestic demand and increased realization owing to high chemical prices. Asia Pacific is one of the most significant markets for the global calcium formate market. The Asia Pacific region accounted for the biggest market share for calcium formate in 2020. The rapidly expanding usage of calcium formate as a cement additive, coupled with radically growing usage as a major substance in various kinds of putties, adhesives and sealants, and so on is estimated to drive the growth of the calcium formate market in the region during the forecast period. Moreover, the surge in chemical, leather, textile, and animal husbandry sectors in countries such as India, Japan, China, and South Korea has also boosted demand for the substance in the Asia Pacific region.

Europe Market Forecast

Furthermore, the Europe region is expected to witness significant growth in the upcoming years owing to increased disposable income and the presence of major market participants in the region's nations.  Furthermore, the animal feed industry's consistent growth and an increase in new construction projects, are further expected to contribute to the market’s growth. The significant use of calcium formate in the leather tanning industry is another factor driving market expansion in Europe.