Global Formic Acid Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032

List of Tables

The global demand for Formic Acid Market is presumed to reach the market size of nearly USD 2.71 Billion by 2032 from USD 1.67 Billion in 2023 with a CAGR of 5.53% under the study period 2024-2032.

Formic acid is a colorless chemical with a pungent odor. It is the simplest carboxylic acid, an essential intermediate in chemical synthesis, and occurs naturally, most notably in some ants. It is majorly used as a preservative and antibacterial agent in livestock feed. The rest part of the formic acid produced is employed in the production of leather and as a catalyst in the fermentation process. It has some niche uses in the pharmaceutical and automotive industries.

MARKET DYNAMICS

The global formic acid market is foreseen to grow at a moderate rate during the forecast period. The demand for formic acid is increasing owing to the growing demand from end-use industries. Animal feed applications majorly drive the global market. Flourishing leather industry, rising production of fermented products, growing production of natural rubber, pharmaceuticals, dyes, and perfume industries are other factors that will significantly contribute to the growing market. Due to formic acid's potential, companies and other chemical producers are plunging deeper into research. Key companies are expanding their production capacity to combat growing demand.

The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Formic Acid. The growth and trends of Formic Acid industry provide a holistic approach to this study.

MARKET SEGMENTATION

This section of the Formic Acid market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Grade

By Application

Leather & textile processing
Agriculture
Animal Feed (Poultry, Swine, Ruminants, Aquatic)
Cleaning
Coating
Rubber
Intermediate

REGIONAL ANALYSIS

This section covers the regional outlook, which accentuates current and future demand for the Formic Acid market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Formic Acid market include BASF SE, Eastman Chemical Company, Perstorp, Feicheng Acid Chemicals Co. Ltd., Chongqing Chuandong Chemical (Group) Co. Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Luxi Group. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

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Product Code: VMR11213611

1. PREFACE

1.1. Report Description
- 1.1.1 Objective
- 1.1.2 Target Audience
- 1.1.3 Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
- 1.3.1 Market Research Process
- 1.3.2 Market Research Methodology

2. EXECUTIVE SUMMARY

2.1. Highlights of Market
2.2. Global Market Snapshot

3. FORMIC ACID - INDUSTRY ANALYSIS

3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter's Five Force Analysis
3.7. Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Grade
- 3.7.2 Market Attractiveness Analysis By Application
- 3.7.3 Market Attractiveness Analysis By Region

4. VALUE CHAIN ANALYSIS

4.1. Value Chain Analysis
4.2. Raw Material Analysis
- 4.2.1 List of Raw Materials
- 4.2.2 Raw Material Manufactures List
- 4.2.3 Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
- 4.4.1 Direct Marketing
- 4.4.2 Indirect Marketing
- 4.4.3 Marketing Channel Development Trend

5. GLOBAL FORMIC ACID MARKET ANALYSIS BY GRADE

5.1. Overview By Grade
5.2. Historical and Forecast Data
5.3. Analysis By Grade
5.4. 20% Historic and Forecast Sales By Regions
5.5. 25% Historic and Forecast Sales By Regions
5.6. 40% Historic and Forecast Sales By Regions
5.7. 60% Historic and Forecast Sales By Regions
5.8. 70% Historic and Forecast Sales By Regions
5.9. 75% Historic and Forecast Sales By Regions
5.10. 85% Historic and Forecast Sales By Regions
5.11. 90% Historic and Forecast Sales By Regions
5.12. 94% Historic and Forecast Sales By Regions
5.13. 99% Historic and Forecast Sales By Regions

6. GLOBAL FORMIC ACID MARKET ANALYSIS BY APPLICATION

6.1. Overview By Application
6.2. Historical and Forecast Data
6.3. Analysis By Application
6.4. Leather & textile processing Historic and Forecast Sales By Regions
6.5. Agriculture Historic and Forecast Sales By Regions
6.6. Animal Feed (Poultry, Swine, Ruminants, Aquatic) Historic and Forecast Sales By Regions
6.7. Cleaning Historic and Forecast Sales By Regions
6.8. Coating Historic and Forecast Sales By Regions
6.9. Rubber Historic and Forecast Sales By Regions
6.10. Intermediate Historic and Forecast Sales By Regions

7. GLOBAL FORMIC ACID MARKET ANALYSIS BY GEOGRAPHY

7.1. Regional Outlook
7.2. Introduction
7.3. North America Sales Analysis
- 7.3.1 Overview, Historic and Forecast Data Sales Analysis
- 7.3.2 North America By Segment Sales Analysis
- 7.3.3 North America By Country Sales Analysis
- 7.3.4 United States Sales Analysis
- 7.3.5 Canada Sales Analysis
- 7.3.6 Mexico Sales Analysis
7.4. Europe Sales Analysis
- 7.4.1 Overview, Historic and Forecast Data Sales Analysis
- 7.4.2 Europe By Segment Sales Analysis
- 7.4.3 Europe By Country Sales Analysis
- 7.4.4 United Kingdom Sales Analysis
- 7.4.5 France Sales Analysis
- 7.4.6 Germany Sales Analysis
- 7.4.7 Italy Sales Analysis
- 7.4.8 Russia Sales Analysis
- 7.4.9 Rest Of Europe Sales Analysis
7.5. Asia Pacific Sales Analysis
- 7.5.1 Overview, Historic and Forecast Data Sales Analysis
- 7.5.2 Asia Pacific By Segment Sales Analysis
- 7.5.3 Asia Pacific By Country Sales Analysis
- 7.5.4 China Sales Analysis
- 7.5.5 India Sales Analysis
- 7.5.6 Japan Sales Analysis
- 7.5.7 South Korea Sales Analysis
- 7.5.8 Australia Sales Analysis
- 7.5.9 South East Asia Sales Analysis
- 7.5.10 Rest Of Asia Pacific Sales Analysis
7.6. Latin America Sales Analysis
- 7.6.1 Overview, Historic and Forecast Data Sales Analysis
- 7.6.2 Latin America By Segment Sales Analysis
- 7.6.3 Latin America By Country Sales Analysis
- 7.6.4 Brazil Sales Analysis
- 7.6.5 Argentina Sales Analysis
- 7.6.6 Peru Sales Analysis
- 7.6.7 Chile Sales Analysis
- 7.6.8 Rest of Latin America Sales Analysis
7.7. Middle East & Africa Sales Analysis
- 7.7.1 Overview, Historic and Forecast Data Sales Analysis
- 7.7.2 Middle East & Africa By Segment Sales Analysis
- 7.7.3 Middle East & Africa By Country Sales Analysis
- 7.7.4 Saudi Arabia Sales Analysis
- 7.7.5 UAE Sales Analysis
- 7.7.6 Israel Sales Analysis
- 7.7.7 South Africa Sales Analysis
- 7.7.8 Rest Of Middle East And Africa Sales Analysis

8. COMPETITIVE LANDSCAPE OF THE FORMIC ACID COMPANIES

8.1. Formic Acid Market Competition
8.2. Partnership/Collaboration/Agreement
8.3. Merger And Acquisitions
8.4. New Product Launch
8.5. Other Developments

9. COMPANY PROFILES OF FORMIC ACID INDUSTRY

9.1. Top Companies Market Share Analysis
9.2. Market Concentration Rate
9.3. BASF SE
- 9.3.1 Company Overview
- 9.3.2 Company Revenue
- 9.3.3 Products
- 9.3.4 Recent Developments
9.4. Eastman Chemical Company
- 9.4.1 Company Overview
- 9.4.2 Company Revenue
- 9.4.3 Products
- 9.4.4 Recent Developments
9.5. Perstorp
- 9.5.1 Company Overview
- 9.5.2 Company Revenue
- 9.5.3 Products
- 9.5.4 Recent Developments
9.6. Feicheng Acid Chemicals Co. Ltd.
- 9.6.1 Company Overview
- 9.6.2 Company Revenue
- 9.6.3 Products
- 9.6.4 Recent Developments
9.7. Chongqing Chuandong Chemical (Group) Co. Ltd.
- 9.7.1 Company Overview
- 9.7.2 Company Revenue
- 9.7.3 Products
- 9.7.4 Recent Developments
9.8. Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC)
- 9.8.1 Company Overview
- 9.8.2 Company Revenue
- 9.8.3 Products
- 9.8.4 Recent Developments
9.9. Luxi Group
- 9.9.1 Company Overview
- 9.9.2 Company Revenue
- 9.9.3 Products
- 9.9.4 Recent Developments

Note - In company profiling, financial details and recent developments are subject to availability or might not be covered in the case of private companies