Report overview
Formic acid (also called methanoic acid) is a colorless liquid with a sharp odor. It is also the simplest carboxylic acid. The chemical formula is HCOOH or HCO2H. Formic acid is an environmentally acceptable and highly efficient organic acid. It is used in many areas, from leather processing to feed preservation.
This report aims to provide a comprehensive presentation of the global market for Formic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Formic Acid. This report contains market size and forecasts of Formic Acid in global, including the following market information:
Global Formic Acid Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Formic Acid Market Sales, 2018-2023, 2024-2029, (K MT)
Global top five Formic Acid companies in 2022 (%)
The global Formic Acid market was valued at US$ 251.1 million in 2022 and is projected to reach US$ 337.3 million by 2029, at a CAGR of 4.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Formic Acid key players include BASF, LUXI, Eastman, Feicheng Acid, Chongqing Chuandong Chemical, etc. Global top five manufacturers hold a share about 85%.
China is the largest market, with a share about 45%, followed by Europe and North America, both have a share over 45 percent.
In terms of product, Content 85% is the largest segment, with a share about 60%. And in terms of application, the largest application is Agriculture, followed by Leather & Textile.
We surveyed the Formic Acid manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Formic Acid Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Formic Acid Market Segment Percentages, by Type, 2022 (%)
Content 85%
Content 90%
Content 98%
Others
Global Formic Acid Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Formic Acid Market Segment Percentages, by Application, 2022 (%)
Agriculture
Leather and Textile
Rubber
Chemical and Pharmaceuticals
Other
Global Formic Acid Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Formic Acid Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Formic Acid revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Formic Acid revenues share in global market, 2022 (%)
Key companies Formic Acid sales in global market, 2018-2023 (Estimated), (K MT)
Key companies Formic Acid sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
BASF
Eastman
Perstorp
Rashtriya Chemicals and Fertilizers
Gujarat Narmada Valley Fertilizers & Chemicals
LUXI
Feicheng Acid
Chongqing Chuandong Chemical
Shijiazhuang Taihe Chemical
Outline of Major Chapters:
Chapter 1: Introduces the definition of Formic Acid, market overview.
Chapter 2: Global Formic Acid market size in revenue and volume.
Chapter 3: Detailed analysis of Formic Acid manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Formic Acid in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Formic Acid capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
