Calcium Formate Market Trends

Growth Drivers

• Growth in Construction of Buildings All Around the Globe Tile adhesives, cement-based mortars, and calcium formate are used as cement additives and concrete accelerators. The increase in cement usage by the building sector is anticipated to have a significant positive impact on the global calcium formate market's demand. To speed up setting and increase the hardness of cement products, calcium formate is used as an additive in the construction sector. Concrete, adhesives, slabs, sheets, and bricks are just a few of the goods that can be made from cement. As an inhibitor, PH regulator, corrosion protection for building and infrastructure substrates, and for cementing oil drilling, calcium formate is also utilized. According to an estimate, around 3500 buildings are expected to build every day by contractors across the globe.

• Growing Risk of Pathogenic Bacteria in Animals- Worldwide, rabies accounts for about 59,000 death each year. Dog rabies is still a common disease in many nations, and exposure to rabid dogs still accounts for over 90% of human exposures to rabies and 99% of all human rabies deaths globally, despite evidence to the contrary. 

• Growing Urban Population - Around 4.4 billion people, or 56% of the world's population, reside in cities. By 2050, approximately 7 out of 10 people are expected to live in cities, with the urban population predicted to more than double its current level.

• Surge in Demand for Crop Growth Fertilizers - Fertilizers are supplemental materials that are given to the crops to boost productivity. Farmers use them regularly to improve crop yields. These chemical fertilizers include nitrogen, potassium, and phosphorus, which are crucial elements needed by plants. They also increase the soil's fertility and its capacity to retain water. Thus, the rising use and demand for fertilizers is also a significant factor that is estimated to spur the growth of the market in the coming years. For instance, six crops account for two-thirds of the world's fertilizer demand, with corn, wheat, and soybeans making up roughly around 35% of that total.

Challenges

• Price volatility for raw materials - The two main raw ingredients that go into making calcium formate are formic acid and calcium carbonate. The market for calcium formate has significant difficulties as a result of the fluctuating cost of these raw ingredients. Additionally, increased production costs are a result of inadequate process efficiency and high energy usage. Therefore, in order to reduce production costs and increase profit margins, makers of calcium formate frequently seek out efficient substitutes that is anticipated to hamper the market’s growth.
• High Initial Capital Investment for Calcium Formate – The manufacturing process requires sufficient capital investment owing to the process that is energy-intensive. Moreover, this further increases the cost of production of the compound and reduces the profit margin. Hence, this factor is expected to hinder the growth of the market. 
• Stringent Government Regulations