The Asia Pacific Calcium Formate Market would witness market growth of 5.8% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 451.2 Kilo Tonnes, showcasing a growth of 5.3% (2019-2022).
Calcium formate is utilized as a de-icing agent, particularly in the aviation industry. Its ability to reduce the freezing point of water makes it useful in reducing ice formation on airport runways and aircraft. This application is crucial for ensuring safe take-offs and landings, especially in regions with cold climates. In the oil and gas industry, it helps maintain the desired pH levels in drilling operations, contributing to the efficiency of the drilling process. These find use in the personal care and cosmetics industry as a humectant. Its ability to retain moisture makes it a valuable ingredient in certain skincare and cosmetic formulations.
The antimicrobial properties of calcium formate position it as an alternative to traditional antibiotics in animal feed. With a focus on sustainable agriculture practices, this aligns with the industry's shift towards responsible and environmentally friendly farming. Including these in animal feed contributes to livestock's health and well-being. Sustainable agriculture practices prioritize animal welfare, and this supports healthier and more productive livestock. This positively influences digestive health in animals, enhancing nutrient absorption. Sustainable agriculture practices prioritize efficient nutrient utilization, contributing to their adoption.
Rapid urbanization is occurring in the Asia-Pacific region, as a substantial proportion of the population migrates from rural to urban areas. The Asia Pacific region experiences continuous innovations in construction technologies. The growing urban population creates a high demand for residential construction in Asia Pacific. These, used in constructing these structures, benefits from the growth in transportation projects in the region. As urbanization progresses in the region, there is a rise in consumer spending. All these factors will uplift the regional market’s expansion in the coming years.
The China market dominated the Asia Pacific Calcium Formate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $116.4 Million by 2030. The Japan market is registering a CAGR of 5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.4% during (2023 - 2030).
Based on Application, the market is segmented into Concrete Additive, Feed Additive, Textile Dyeing & Finishing, and Others. Based on Grade, the market is segmented into Industrial Grade, and Feed Grade. Based on End-use, the market is segmented into Construction, Leather & Textile, Animal Husbandry, Power Generation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Calcium Formate Market is Predict to reach $1.1 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lanxess AG, Chongqing Chuandong Chemical (Group) Co., Ltd., Zibo ruibao chemical co. LTD., Henan Botai Chemical Building Material Co., Ltd., Shandong Baoyuan Chemical Co.,Ltd., SIDLEY CHEMICAL CO.,LTD., American Elements, Minerals Technologies Inc., Cerne Calcium Company, and Hangzhou Focus Chemical Co., Ltd.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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