Industrial Formic Acid Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: BASF, Shandong Baoyuan Chemical, Feicheng Acid Chemicals, Helm Italia

Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Industrial Formic Acid Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 4.1% during the review period (2022 to 2027).

Industrial Formic Acid Market Overview

Formic acid, chemically known as methanoic acid is the simplest carboxylic acid with the chemical formula HCOOH. It is a colorless liquid with a sharp smell. It is mixable with water and most of the polar solvents. Organically, it occurs in ants and can also be chemically synthesized. It is one of the important chemical intermediates in chemical synthesis. Commercially it is produced from methanol but also occurs as a by-product in several chemical syntheses.

Growing demand for formic acid as additives which also acts as an anti-bacterial agent to store animal feedstock is likely to fuel the market growth. It restricts the decay of feedstock and helps fodder to retain its nutritive value for a longer time. Growing demand for feedstock for dairy animals is likely to boost the demand for formic acid. In the chemical and industrial sectors, formic acid and its derivatives are widely used in formulation, transfer hydrogenation, and other significant processes which subsequently shall foster market growth.

Who are the Major Players in the Industrial Formic Acid Market?

The Industrial Formic Acid Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end-users. The three dependencies for the status of major companies in the market are company profile, profitable gross margin, the prices they charge. These are the main players in this market including BASF, Shandong Baoyuan Chemical, Feicheng Acid Chemicals, Helm Italia, Perstorp, Gujarat Narmada Valley Fertilizers, Rashtriya Chemical, Taminco, Shahid Rasouli Petrochemical, Polioli, Shanxi Yuanping, Sigma-Aldrich, and others.

Industry News

• BASF has announced its plans to build a state-of-the-art production plant for formic acid at its integrated “Verbund” site in Geismar, Louisiana. The new plant will create 20 new jobs and have an annual capacity of more than 50,000 tons.


• BASF will increase its list and off-list prices in North America for all grades of bulk formic acid by $0.03/lb., and all grades of packaged Formic Acid by $0.05/lb. In South America, all grades of both bulk and packaged Formic Acid will increase by $50 per metric ton.

What are the major Applications, Types, and Regions for the Industrial Formic Acid Market?

By Type, it is segmented into

• Pharmaceutical Grade


• Industrial Grade


• Other

By Applications, it is segmented into

• Agriculture/Animal Feed Industry


• Leather Industry


• Rubber Industry


• Chemicals/Pharmaceuticals Industry


• Textile Industry


• Other

Industrial Formic Acid Market Regional Analysis

APAC is expected to account for the biggest share in the market in terms of volumetric feeding attributed to the growing demand from China and India. The huge chemical industrial base in India and China is driving the demand for formic acid and its derivatives. North America is projected to show significant growth attributed to the growing demand for preserving and chemical feedstock for chemical production. Europe is anticipated to show substantial growth attributed to the demand for preservers to store livestock feed. Latin America and the Middle East & Africa shall exhibit sluggish growth by the end of the forecast period.

All these factors greatly affect the Industrial Formic Acid market growth. It further aims at providing a complete overview on a detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis, and changing market growth factors in regions such as Follows,

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Industrial Formic Acid Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Industrial Formic Acid Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Industrial Formic Acid Market report scope?

Key Takeaways from this Industrial Formic Acid Report

• Evaluate Industrial Formic Acid market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications, and by different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Industrial Formic Acid market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

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Who are the key players in Industrial Formic Acid Market?

BASF, Shandong Baoyuan Chemical, Feicheng Acid Chemicals, Helm Italia, Perstorp, Gujarat Narmada Valley Fertilizers, Rashtriya Chemical, Taminco, Shahid Rasouli Petrochemical, Polioli, Shanxi Yuanping, Sigma-Aldrich

What regions does this Industrial Formic Acid Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Industrial Formic Acid Market?

Pharmaceutical Grade, Industrial Grade, Other

What are the major end-use applications of Industrial Formic Acid Market?

Agriculture/Animal Feed Industry, Leather Industry, Rubber Industry, Chemicals/Pharmaceuticals Industry, Textile Industry, Other

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