Global Formic Acid Market Report 2024

Formic Acid Global Market Report 2024 – By Purity (Less Than 80% To 89.5%, 89.6% To 90.5%, 91.6% To 99%, More Than 99%), By Application (Animal Feed, Silage, Leather Tanning, Textile Dyeing), By End-Use Industry (Agriculture, Leather, Textiles And Apparel, Healthcare, Rubber, Chemical, Paper, Other End-Use Industries) – Market Size, Trends, And Global Forecast 2024-2033

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Description Table Of Contents Tables & Figures Market Insights Related Reports

Formic Acid Market Definition And Segments

Formic acid, also known as methanoic acid, refers to a colorless and highly soluble liquid in water with a pungent odor that is considered a strong acid. It is the simplest carboxylic acid used to process textiles and leather.

The formic acid is available in distinct types of purity, such as less than 80% to 89.5%, 89.6% to 90.5%, 91.6% to 99%, and more than 99%. Purity, less than 80% to 89.5%, typically refers to a lower-purity formic acid, which may contain impurities and other substances. These are used in several applications, including animal feed, silage, leather tanning, and textile dyeing, and are used by various end-use industries, such as agriculture, leather, textiles and apparel, healthcare, rubber, chemicals, paper, and others.

The formic acid market covered in this report is segmented –

1) By Purity: Less Than 80% To 89.5%, 89.6% To 90.5%, 91.6% To 99%, More Than 99%

2) By Application: Animal Feed, Silage, Leather Tanning, Textile Dyeing

3) By End-Use Industry: Agriculture, Leather, Textiles And Apparel, Healthcare, Rubber, Chemical, Paper, Other End-Use Industries

The formic acid market size has grown strongly in recent years. It will grow from $1.7 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to textile and leather industries, agricultural applications, chemical manufacturing, rubber industry, laboratory and research.

The formic acid market size is expected to see strong growth in the next few years. It will grow to $2.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to renewable energy storage, biofuel production, biodegradable polymers, hydrogen storage, formate salts for oil recovery. Major trends in the forecast period include formic acid in waste management, expansion in biotechnology, carbon-neutral chemical production, formate salts in oil industry, formic acid fuel cells.

Growing Demand For Animal Feed Fuels Formic Acid Market Expansion

The growing demand for animal feed is expected to boost the growth of the formic acid market going forward. Animal feed is a substance that refers to the food grown or developed for livestock and poultry. It is an edible item that an animal consumes and uses to supplement its diet with energy, minerals, or both. Formic acid is commonly used as an additive in animal feed to improve preservation, nutritional value, and overall animal health. It is used as a preservative and antibacterial agent in livestock feed. For instance, in 2022, according to the Animal Nutrition Association of Canada (ANAC), a Canada-based trade association, Canadian livestock consumed an estimated 28.9 million metric tons of feed (not including forages) in 2021, with approximately 19.3 million metric tons of that feed supplied by commercial mills across Canada. The Canadian commercial feed market grew over 20% in 2022, reaching a record $11.5 billion in sales . Therefore, the growing demand for animal feed is driving the growth of the formic acid market.

Expanding Automotive Industry Fuels Formic Acid Market

The expanding automotive industry is expected to propel the growth of the formic acid market going forward. The automotive industry refers to a sector that involves various companies and organizations engaged in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. Formic acid plays an important role in the automotive industry as it is utilized in the manufacturing of adhesives and coatings, contributing to the production and performance of automotive components and finishes. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total vehicle production in the United States increased to 11.77 million units in July, up from 10.91 million units in June. Therefore, the expanding automotive industry is driving the growth of the formic acid market.

Major companies operating in the formic acid market report are BASF SE, Honeywell International Inc., Yara International ASA, Evonik Industries AG, Eastman Chemical Company, Luxi Chemical Group Co. Ltd., Kemira Oyj, Rashtriya Chemicals and Fertilizers Limited, HELM AG, Perstorp Holdings AB, PT Pupuk Kujang, GMM Pfaudler Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Alfa Aesar, Wuhan Rui Sunny Chemical Co. Ltd., Fleurchem Inc., Noah Chemicals, Polioli S.p.A., Shandong Feicheng Acid Chemicals Co.Ltd., Anhui Asahi Kasei Chemical Co. Ltd., Chongqing Chuandong Chemical (Group) Co. Ltd., Hubei Yihua Group Co. Ltd., Zibo Xinglu Chemical Factory, Shandong Haili Chemical Industry Co. Ltd., Vigon International

Technological Advancements Transforming Formic Acid Market Landscape

The launch of innovative technologies is a key trend gaining popularity in the formic acid market. Major companies operating in the formic acid market are focused on launching recent technologies to meet specific demands and sustain their position in the market. For instance, in January 2022, the University of Science and Technology of China, a China-based university, and a collaborative team of researchers developed an innovative system to directly utilize renewable electricity to reduce carbon dioxide into pure formic acid. This system uses a copper-based single-atom alloy catalyst and a novel electrochemical device based on solid-state electrolytes to generate refined formic acid liquid fuels with carbon dioxide and water as raw feedstocks. This work is expected to promote the industrialization of carbon dioxide upcycling driven by green electricity, which has immense potential for practical application.

Energy Generation Systems Transforming The Market

Major companies operating in the formic acid market are increasing their focus on introducing energy generation systems, such as hydrozine, to gain a competitive edge in the market. Energy generation systems refer to various technologies and setups designed to produce electrical or mechanical energy. For instance, in February 2023, Dutch Energy Solutions, a Denmark-based company, launched a new system that uses formic acid, also known as hydrozine, to generate power. This innovative technology can be used as a fuel or energy carrier and consists of a 20 kW generator and a 60 kWh battery. It is suitable for various applications, including electrified construction sites and potentially even vehicles. The system has undergone testing and is currently being further developed for both stationary and mobile applications to make sustainable energy more accessible and cost-effective.

Petronas Chemicals Group Berhad Expands Global Footprint With Strategic Acquisition Of Formic Acid Producer Perstorp Ab

In October 2022, Petronas Chemicals Group Berhad (PCG), a Malaysia-based chemical company, acquired Perstorp for an undisclosed amount. With this acquisition, Petronas Chemicals Group Berhad will achieve its growth targets and further strengthen its market position in specialty chemicals. Perstorp AB is a Sweden-based chemicals company that produces formic acid.

Asia-Pacific was the largest region in the formic acid market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the formic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the formic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The formic acid market consists of sales of hydrogen carboxylic acid, liquid formic acid, and aritan white formic acid. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The formic acid market research report is one of a series of new reports from The Business Research Company that provides formic acid market statistics, including formic acid industry global market size, regional shares, competitors with a formic acid market share, detailed formic acid market segments, market trends and opportunities, and any further data you may need to thrive in the formic acid industry. This formic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Formic Acid Market Report Scope
Report AttributeDetails
Market Size Value In 2024 $1.8 billion
Revenue Forecast In 2033 $2.2 billion
Growth Rate CAGR of 5.1% from 2024 to 2033
Base Year For Estimation 2023
Actual Estimates/Historical Data 2018-2023
Forecast Period 2024 - 2028 - 2033
Market Representation Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered 1) By Purity: Less Than 80% To 89.5%, 89.6% To 90.5%, 91.6% To 99%, More Than 99%
2) By Application: Animal Feed, Silage, Leather Tanning, Textile Dyeing
3) By End-Use Industry: Agriculture, Leather, Textiles And Apparel, Healthcare, Rubber, Chemical, Paper, Other End-Use Industries
Regional Scope Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled BASF SE; Honeywell International Inc.; Yara International ASA; Evonik Industries AG; Eastman Chemical Company; Luxi Chemical Group Co. Ltd.; Kemira Oyj; Rashtriya Chemicals and Fertilizers Limited; HELM AG; Perstorp Holdings AB; PT Pupuk Kujang; GMM Pfaudler Ltd.; Gujarat Narmada Valley Fertilizers & Chemicals Limited; Alfa Aesar; Wuhan Rui Sunny Chemical Co. Ltd.; Fleurchem Inc.; Noah Chemicals; Polioli S.p.A.; Shandong Feicheng Acid Chemicals Co.Ltd.; Anhui Asahikasei Chemical Co. Ltd.; Chongqing Chuandong Chemical (Group) Co. Ltd.; Hubei Yihua Group Co. Ltd.; Zibo Xinglu Chemical Factory; Shandong Haili Chemical Industry Co. Ltd.; Vigon International
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    Table Of Contents

    1. Executive Summary

    2. Formic Acid Market Characteristics

    3. Formic Acid Market Trends And Strategies

    4. Formic Acid Market - Macro Economic Scenario

    4.1. Impact Of High Inflation On The Market

    4.2. Ukraine-Russia War Impact On The Market

    4.3. COVID-19 Impact On The Market

    5. Global Formic Acid Market Size and Growth

    5.1. Global Formic Acid Market Drivers and Restraints

    5.1.1. Drivers Of The Market

    5.1.2. Restraints Of The Market

    5.2. Global Formic Acid Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

    5.3. Global Formic Acid Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

    6. Formic Acid Market Segmentation

    6.1. Global Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Less Than 80% To 89.5%

    89.6% To 90.5%

    91.6% To 99%

    More Than 99%

    6.2. Global Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Animal Feed

    Silage

    Leather Tanning

    Textile Dyeing

    6.3. Global Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Agriculture

    Leather

    Textile And Apparels

    Healthcare

    Rubber

    Chemical

    Paper

    Other End-Use Industries

    7. Formic Acid Market Regional And Country Analysis

    7.1. Global Formic Acid Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    7.2. Global Formic Acid Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8. Asia-Pacific Formic Acid Market

    8.1. Asia-Pacific Formic Acid Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.3. Asia-Pacific Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.4. Asia-Pacific Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    9. China Formic Acid Market

    9.1. China Formic Acid Market Overview

    9.2. China Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.3. China Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.4. China Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    10. India Formic Acid Market

    10.1. India Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.2. India Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.3. India Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11. Japan Formic Acid Market

    11.1. Japan Formic Acid Market Overview

    11.2. Japan Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.3. Japan Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.4. Japan Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12. Australia Formic Acid Market

    12.1. Australia Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.2. Australia Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.3. Australia Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13. Indonesia Formic Acid Market

    13.1. Indonesia Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.2. Indonesia Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.3. Indonesia Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14. South Korea Formic Acid Market

    14.1. South Korea Formic Acid Market Overview

    14.2. South Korea Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.3. South Korea Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.4. South Korea Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15. Western Europe Formic Acid Market

    15.1. Western Europe Formic Acid Market Overview

    15.2. Western Europe Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.3. Western Europe Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.4. Western Europe Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16. UK Formic Acid Market

    16.1. UK Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.2. UK Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.3. UK Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17. Germany Formic Acid Market

    17.1. Germany Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.2. Germany Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.3. Germany Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18. France Formic Acid Market

    18.5. France Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.6. France Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.7. France Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19. Italy Formic Acid Market

    19.9. Italy Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.10. Italy Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.11. Italy Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20. Spain Formic Acid Market

    20.13. Spain Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.14. Spain Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.15. Spain Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21. Eastern Europe Formic Acid Market

    21.1. Eastern Europe Formic Acid Market Overview

    21.2. Eastern Europe Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.3. Eastern Europe Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.4. Eastern Europe Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22. Russia Formic Acid Market

    22.1. Russia Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.2. Russia Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.3. Russia Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23. North America Formic Acid Market

    23.1. North America Formic Acid Market Overview

    23.2. North America Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.3. North America Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.4. North America Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24. USA Formic Acid Market

    24.1. USA Formic Acid Market Overview

    24.2. USA Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.3. USA Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.4. USA Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25. Canada Formic Acid Market

    25.1. Canada Formic Acid Market Overview

    25.2. Canada Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.3. Canada Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.4. Canada Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26. South America Formic Acid Market

    26.1. South America Formic Acid Market Overview

    26.2. South America Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.3. South America Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.4. South America Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27. Brazil Formic Acid Market

    27.1. Brazil Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.2. Brazil Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.3. Brazil Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28. Middle East Formic Acid Market

    28.1. Middle East Formic Acid Market Overview

    28.2. Middle East Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.3. Middle East Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.4. Middle East Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29. Africa Formic Acid Market

    29.1. Africa Formic Acid Market Overview

    29.2. Africa Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.3. Africa Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.4. Africa Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    30. Formic Acid Market Competitive Landscape And Company Profiles

    30.1. Formic Acid Market Competitive Landscape

    30.2. Formic Acid Market Company Profiles

    30.2.1. BASF SE

    30.2.1.1. Overview

    30.2.1.2. Products and Services

    30.2.1.3. Strategy

    30.2.1.4. Financial Performance

    30.2.2. Honeywell International Inc.

    30.2.2.1. Overview

    30.2.2.2. Products and Services

    30.2.2.3. Strategy

    30.2.2.4. Financial Performance

    30.2.3. Yara International ASA

    30.2.3.1. Overview

    30.2.3.2. Products and Services

    30.2.3.3. Strategy

    30.2.3.4. Financial Performance

    30.2.4. Evonik Industries AG

    30.2.4.1. Overview

    30.2.4.2. Products and Services

    30.2.4.3. Strategy

    30.2.4.4. Financial Performance

    30.2.5. Eastman Chemical Company

    30.2.5.1. Overview

    30.2.5.2. Products and Services

    30.2.5.3. Strategy

    30.2.5.4. Financial Performance

    31. Formic Acid Market Other Major And Innovative Companies

    31.1. Luxi Chemical Group Co. Ltd.

    31.2. Kemira Oyj

    31.3. Rashtriya Chemicals and Fertilizers Limited

    31.4. HELM AG

    31.5. Perstorp Holdings AB

    31.6. PT Pupuk Kujang

    31.7. GMM Pfaudler Ltd.

    31.8. Gujarat Narmada Valley Fertilizers & Chemicals Limited

    31.9. Alfa Aesar

    31.10. Wuhan Rui Sunny Chemical Co. Ltd.

    31.11. Fleurchem Inc.

    31.12. Noah Chemicals

    31.13. Polioli S.p.A.

    31.14. Shandong Feicheng Acid Chemicals Co.Ltd.

    31.15. Anhui Asahikasei Chemical Co. Ltd.

    32. Global Formic Acid Market Competitive Benchmarking

    33. Global Formic Acid Market Competitive Dashboard

    34. Key Mergers And Acquisitions In The Formic Acid Market

    35. Formic Acid Market Future Outlook and Potential Analysis

    35.1 Formic Acid Market In 2028 - Countries Offering Most New Opportunities

    35.2 Formic Acid Market In 2028 - Segments Offering Most New Opportunities

    35.3 Formic Acid Market In 2028 - Growth Strategies

    35.3.1 Market Trend Based Strategies

    35.3.2 Competitor Strategies

    36. Appendix

    36.1. Abbreviations

    36.2. Currencies

    36.3. Historic And Forecast Inflation Rates

    36.4. Research Inquiries

    36.5. The Business Research Company

    36.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Table 3: Global Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 4: Global Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 5: Global Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 6: Global Formic Acid Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 7: Global Formic Acid Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 8: Asia-Pacific, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 9: Asia-Pacific, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 10: Asia-Pacific, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 11: China, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 12: China, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 13: China, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 14: India, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 15: India, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 16: India, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 17: Japan, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 18: Japan, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 19: Japan, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 20: Australia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 21: Australia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 22: Australia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 23: Indonesia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 24: Indonesia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 25: Indonesia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 26: South Korea, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 27: South Korea, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 28: South Korea, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 29: Western Europe, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 30: Western Europe, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 31: Western Europe, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 32: UK, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 33: UK, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 34: UK, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 35: Germany, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 36: Germany, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 37: Germany, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 38: France, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 39: France, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 40: France, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 41: Italy, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 42: Italy, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 43: Italy, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 44: Spain, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 45: Spain, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 46: Spain, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 47: Eastern Europe, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 48: Eastern Europe, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 49: Eastern Europe, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 50: Russia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 51: Russia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 52: Russia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 53: North America, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 54: North America, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 55: North America, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 56: USA, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 57: USA, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 58: USA, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 59: Canada, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 60: Canada, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 61: Canada, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 62: South America, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 63: South America, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 64: South America, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 65: Brazil, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 66: Brazil, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 67: Brazil, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 68: Middle East, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 69: Middle East, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 70: Middle East, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 71: Africa, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 72: Africa, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 73: Africa, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 74: BASF SE Financial Performance
  • Table 75: Honeywell International Inc. Financial Performance
  • Table 76: Yara International ASA Financial Performance
  • Table 77: Evonik Industries AG Financial Performance
  • Table 78: Eastman Chemical Company Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Figure 3: Global Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 4: Global Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 5: Global Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 6: Global Formic Acid Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 7: Global Formic Acid Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 8: Asia-Pacific, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 9: Asia-Pacific, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 10: Asia-Pacific, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 11: China, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 12: China, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 13: China, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 14: India, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 15: India, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 16: India, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 17: Japan, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 18: Japan, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 19: Japan, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 20: Australia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 21: Australia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 22: Australia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 23: Indonesia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 24: Indonesia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 25: Indonesia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 26: South Korea, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 27: South Korea, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 28: South Korea, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 29: Western Europe, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 30: Western Europe, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 31: Western Europe, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 32: UK, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 33: UK, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 34: UK, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 35: Germany, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 36: Germany, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 37: Germany, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 38: France, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 39: France, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 40: France, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 41: Italy, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 42: Italy, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 43: Italy, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 44: Spain, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 45: Spain, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 46: Spain, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 47: Eastern Europe, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 48: Eastern Europe, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 49: Eastern Europe, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 50: Russia, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 51: Russia, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 52: Russia, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 53: North America, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 54: North America, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 55: North America, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 56: USA, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 57: USA, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 58: USA, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 59: Canada, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 60: Canada, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 61: Canada, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 62: South America, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 63: South America, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 64: South America, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 65: Brazil, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 66: Brazil, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 67: Brazil, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 68: Middle East, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 69: Middle East, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 70: Middle East, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 71: Africa, Formic Acid Market, Segmentation By Purity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 72: Africa, Formic Acid Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 73: Africa, Formic Acid Market, Segmentation By End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 74: BASF SE Financial Performance
  • Figure 75: Honeywell International Inc. Financial Performance
  • Figure 76: Yara International ASA Financial Performance
  • Figure 77: Evonik Industries AG Financial Performance
  • Figure 78: Eastman Chemical Company Financial Performance
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Frequently Asked Questions

What is the definition of the formic acid market?

Formic acid, also known as methanoic acid, refers to a colorless and highly soluble liquid in water with a pungent odor that is considered a strong acid. It is the simplest carboxylic acid used to process textiles and leather. For further insights on the formic acid market, request a sample here

How will the formic acid market drivers and restraints affect the formic acid market dynamics? What forces will shape the formic acid industry going forward?

The formic acid market major growth driver - Growing Demand For Animal Feed Fuels Formic Acid Market Expansion. For further insights on the formic acid market, request a sample here

What is the forecast market size or the forecast market value of the formic acid market?

The formic acid market size has grown strongly in recent years. It will grow from $1.7 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to textile and leather industries, agricultural applications, chemical manufacturing, rubber industry, laboratory and research. The formic acid market size is expected to see strong growth in the next few years. It will grow to $2.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to renewable energy storage, biofuel production, biodegradable polymers, hydrogen storage, formate salts for oil recovery. Major trends in the forecast period include formic acid in waste management, expansion in biotechnology, carbon-neutral chemical production, formate salts in oil industry, formic acid fuel cells. For further insights on the formic acid market, request a sample here

How is the formic acid market segmented?

The formic acid market is segmented
1) By Purity: Less Than 80% To 89.5%, 89.6% To 90.5%, 91.6% To 99%, More Than 99%
2) By Application: Animal Feed, Silage, Leather Tanning, Textile Dyeing
3) By End-Use Industry: Agriculture, Leather, Textiles And Apparel, Healthcare, Rubber, Chemical, Paper, Other End-Use IndustriesFor further insights on the formic acid market, request a sample here

Which region has the largest share of the formic acid market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the formic acid market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the formic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the formic acid market, request a sample here.

Who are the major players in the formic acid market?

Major companies operating in the formic acid market report are BASF SE, Honeywell International Inc., Yara International ASA, Evonik Industries AG, Eastman Chemical Company, Luxi Chemical Group Co. Ltd., Kemira Oyj, Rashtriya Chemicals and Fertilizers Limited, HELM AG, Perstorp Holdings AB, PT Pupuk Kujang, GMM Pfaudler Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Alfa Aesar, Wuhan Rui Sunny Chemical Co. Ltd., Fleurchem Inc., Noah Chemicals, Polioli S.p.A., Shandong Feicheng Acid Chemicals Co.Ltd., Anhui Asahikasei Chemical Co. Ltd., Chongqing Chuandong Chemical (Group) Co. Ltd., Hubei Yihua Group Co. Ltd., Zibo Xinglu Chemical Factory, Shandong Haili Chemical Industry Co. Ltd., Vigon International For further insights on the formic acid market, request a sample here.

What are the key trends in the formic acid market?

Major trend in the formic acid market - Technological Advancements Transforming Formic Acid Market Landscape. For further insights on the formic acid market, request a sample here.

What are the major opportunities in the formic acid market? What are the strategies for the formic acid market?

For detailed insights on the major opportunities and strategies in the formic acid market, request a sample here.

How does the formic acid market relate to the overall economy and other similar markets?

For detailed insights on formic acid market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the formic acid industry?

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What are the key dynamics influencing the formic acid market growth? SWOT analysis of the formic acid market.

For detailed insights on the key dynamics influencing the formic acid market growth and SWOT analysis of the formic acid industry, request a sample here.