Balboa, San Francisco -- (SBWIRE) -- 01/30/2020 -- An odorless and free-flowing white crystalline solid is known as calcium formate. This substance is an extremely plentiful source of both calcium ions and formate in aqueous solutions. Growing demand from across various industries is estimated to boost the global calcium formate market in near future.

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The global calcium formate market is expected witness substantial development due to extensive application in the end use segment of leather. It is used as an agent for masking in the method of tanning of chrome. When this chemical compound is combined with a formulation of tannage, it makes way for more efficacious and rapid chrome penetration onto the surface of leather. In the pickling process, the calcium formate also finds wide use as a replacement for formic acid. All these factors are estimated to promote the global calcium formate market over the projection tenure.

The unique properties calcium formate makes it an extremely popular compound across the industrial spectrum. Leather industry is one of the leading end user segments for the calcium formate market and is likely to continue with its dominance in the years to come.

Leather Industry to Generate Increased Demand for the Product

The global calcium formate market is influenced by the excellent qualities of the chemical that makes it suitable for utilization across many applications in several industries. This chemical compound is a calcium salt, which is non-hygroscopic and less toxic in nature. Calcium formate plays an important role in the restoration of pliability, homogeneity, and stability of water. This factor is estimated to offer copious opportunity for growth of the global calcium formate market over the projection timeframe.

Calcium formate is widely utilized in the process of chrome burning. It is a procedure that forms a part of the leather tanning process. In addition to that, calcium formate also finds utilization in the form of an accelerator to strengthen and set concrete. Huge demand arises out of the concrete and cement sector, which is likely to offer encourage development of the global calcium formate market over the tenure of projection, from 2019 to 2027.

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Asia Pacific Market Rides on the Success of the Construction Industry

It is likely that the Asia Pacific will come up as one of the dominant geographical zones in the market over the projection period, from 2019 to 2027.

Such speedy development of the global calcium formate market is mainly due to the strong presence of construction and leather industries in the region. As a consequence, the requirement for calcium formate in the Asia Pacific region is likely to remain high in the years to come.

Driven by exponential growth of the construction industry in India and China, Asia-Pacific is likely to exert dominance over the global calcium formate market. In addition, thriving steel and cement industry in Japan is another important factor that is estimated to add to the growth of the calcium formate market in the near future.

Europe is estimated to observe stable growth over the forecast tenure due to augmented demand for the compound in the feed industry. Intake of the chemical compound in the silage salvation and animal feed industry is likely give the market in Europe a thrust. Both Latin America and North America are expected to register moderate growth owing to low demand for calcium formate from the construction industry.

Competition to Build Up with the Rising Research and Development Activities

Competition in the global calcium formate market is still in its early stage as the safety concern about the use of the product is yet to be addressed. However, increased research and development activities by manufactures offer promising scope of growth.

Few important players in the market include Perstorp AB, Geo Specialty Chemicals, Inc., Hangzhou Focus Chemical Co., Ltd, Feicheng Acid Chemical Co., Ltd., Henan Botai Chemical Building Materials Co., Ltd, and Shandong Baoyuan Chemical Co., Ltd.

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