Global Formic Acid Market 2017-2021

  • ID: 4438566
  • Report
  • Region: Global
  • 86 pages
  • TechNavio
OFF
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

1 of 5

FEATURED COMPANIES

  • Alfa Aesar
  • BASF
  • Eastman Chemical Company
  • Feicheng Acid Chemicals
  • GNFC
  • Jinan Petrochemical Group
  • MORE
About Formic Acid

Formic acid is used abundantly since it is an eco-friendly alternative to textile, leather, rubber, and other industries. The excellent properties of a formic acid, when it comes to controlling acidity while effectively controlling microbial growth, makes it ideal for use in a broad spectrum of applications. Furthermore, formic acid, unlike other acids (organic), holds the advantage of performing as both carboxylic acid and aldehyde. Therefore, formic acid functions as a reducing and as an acidifying agent, which offers the market immense potential and scope to be used across a wide range of industries.

The analysts forecast the global formic acid market to grow at a CAGR of 4.26% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global formic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:
  • APAC
  • EMEA
  • North America
  • ROW
The report, Global Formic Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BASF
  • Feicheng Acid Chemicals
  • GNFC
  • Perstorp
  • Eastman Chemical Company
Other prominent vendors
  • Alfa Aesar, Thermo Fisher Scientific
  • Jinan Petrochemical Group
  • Merck
  • Polioli
  • Rashtriya Chemicals and Fertilizers
  • LUXI GROUP
  • Shanxi Province Yuanping Chemicals
Market drivers
  • Rising demand for formic acid as a preservative
  • For a full, detailed list, view the full report
Market challenges
  • Presence of cost-effective substitutes
  • For a full, detailed list, view the full report
Market trends
  • Direct syntheses of formic acid in acidic media
  • For a full, detailed list, view the full report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
You can request one free hour of the analyst’s time when you purchase this market report. Details are provided within the report.
READ MORE
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Alfa Aesar
  • BASF
  • Eastman Chemical Company
  • Feicheng Acid Chemicals
  • GNFC
  • Jinan Petrochemical Group
  • MORE
PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION
  • Market outline
PART 05: MARKET LANDSCAPE
  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
PART 06: MARKET SIZING
  • Market size and forecast 2016-2021
PART 07: FIVE FORCES ANALYSIS
  • Five forces analysis
PART 08: MARKET SEGMENTATION BY END-USER INDUSTRY
  • Segmentation by end-user industry
  • Comparison by end-user industry
  • Global formic acid market for agriculture and animal feed
  • Global formic acid market for leather
  • Global formic acid market for textile industry
  • Global formic acid market for chemicals and pharmaceuticals industry
  • Global formic acid market for rubber industry
  • Global formic acid market for other industries
  • Market opportunity by end-user industry
PART 09: REGIONAL LANDSCAPE
  • Geographical segmentation
  • Regional comparison
  • Formic acid market in APAC
  • Formic acid market in EMEA
  • Formic acid market in North America
  • Formic acid market in ROW
  • Key leading countries
  • Market opportunity
PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges
PART 12: MARKET TRENDS
  • Direct syntheses of formic acid in acidic media
  • New applications of formic acid backed by innovations
  • Increasing business consolidations by major vendors
PART 13: VENDOR LANDSCAPE
  • Competitive scenario
  • Other prominent vendors
PART 14: VENDOR ANALYSIS
  • Vendors covered
PART 15: APPENDIX
  • List of abbreviations
List of Exhibits
Exhibit 01: Related market
Exhibit 02: Market characteristics
Exhibit 03: Market segments
Exhibit 04: Global formic acid market 2016-2021 (thousand tons)
Exhibit 05: Global formic acid market- Year-over-year growth 2017-2021 (%)
Exhibit 06: Five forces analysis
Exhibit 07: End-user industry - Market share 2016-2021 (%)
Exhibit 08: Comparison by end-user industry
Exhibit 09: Global formic acid market for agriculture and animal feed 2016-2021 (thousand tons)
Exhibit 10: Global formic acid market for agriculture and animal feed - Year over year growth (%)
Exhibit 11: Global formic acid market for leather 2016-2021 (thousand tons)
Exhibit 12: Global formic acid market for leather- Year over year growth (%)
Exhibit 13: Global formic acid market for textile industry 2016-2021 (thousand tons)
Exhibit 14: Global formic acid market for textile industry - Year over year growth (%)
Exhibit 15: Global formic acid market for chemicals and pharmaceuticals industry 2016-2021 (thousand tons)
Exhibit 16: Global formic acid market for chemicals and pharmaceuticals industry - Year over year growth (%)
Exhibit 17: Global pharmaceutical R&D expenditure ($ billions)
Exhibit 18: Global formic acid market for rubber industry 2016-2021 (thousand tons)
Exhibit 19: Global formic acid market for rubber industry - Year over year growth (%)
Exhibit 20: Global formic acid market for other industries 2016-2021 (thousand tons)
Exhibit 21: Global formic acid market for other industries - Year over year growth (%)
Exhibit 22: Market opportunity by end-user industry
Exhibit 23: Global formic acid market - Market share by geography 2016-2021 (%)
Exhibit 24: Regional comparison
Exhibit 25: Formic acid market in APAC 2016-2021 (thousand tons)
Exhibit 26: Formic acid market in APAC - Year over year growth (%)
Exhibit 27: India: Region-wise manufacturing of cattle feed 2016
Exhibit 28: Formic acid market in EMEA 2016-2021 (thousand tons)
Exhibit 29: Formic acid market in EMEA - Year over year growth (%)
Exhibit 30: Formic acid market in North America 2016-2021 (thousand tons)
Exhibit 31: Formic acid market in North America - Year over year growth
Exhibit 32: Formic acid market in ROW 2016-2021 (thousand tons)
Exhibit 33: Formic acid market in ROW - Year over year growth (%)
Exhibit 34: Key leading countries by demand
Note: Product cover images may vary from those shown
3 of 5

Loading
LOADING...

4 of 5

FEATURED COMPANIES

  • Alfa Aesar
  • BASF
  • Eastman Chemical Company
  • Feicheng Acid Chemicals
  • GNFC
  • Jinan Petrochemical Group
  • MORE
New Report Released: - Global Formic Acid Market 2017-2021

The author of the report recognizes the following companies as the key players in the global formic acid market: BASF, Feicheng Acid Chemicals, GNFC, Perstorp, and Eastman Chemical Company.

Other Prominent Vendors in the market are: Alfa Aesar, Thermo Fisher Scientific, Jinan Petrochemical Group, Merck, Polioli, Rashtriya Chemicals and Fertilizers, LUXI GROUP, and Shanxi Province Yuanping Chemicals.

Commenting on the report, an analyst from the research team said: “One trend in the market is direct syntheses of formic acid in acidic media. The increasing global focus on rising carbon dioxide (CO2) levels in the atmosphere have led to changes in CO2 products. The market is witnessing the emergence of a direct CO2 hydrogenation process into formic acid by employing a homogeneous ruthenium catalyst. This process is carried out in dimethyl sulphoxide (DMSO) and as an aqueous solution without the presence of additives.”

According to the report, one driver in the market is rising demand for formic acid as a preservative. The brilliant preservation capabilities of formic acid make it an ideal a silage preservative. Silage refers to green fodder or grass that is stored to be used as animal feed during winter months. The aim of making silage is to support the silage material with no or minimum nutrient loss. To facilitate this process, formic acid is extensively employed. However, it is a common practice to use molasses to provide energy for the fermentation of lactic acid and to assist the silage making process. But the addition of formic acid to the silage material positively impacts the process of fermentation.

Further, the report states that one challenge in the market is presence of cost-effective substitutes. Although formic acid finds application in a wide spectrum of applications, its high cost has paved the way for cost-effective substitutes, which are threatening the growth of the global formic acid market. Some of the emerging cost-effective substitutes for formic acid include peptides and microflora enhancers. Potassium sorbate, sodium sorbate, and acetic acid also pose a considerable threat of substitution to formic acid, when used as a preservative. Potassium sorbate, as a salt of sorbic acid, plays an important role as a food preservative, even though studies suggest that formic acid is a much better preservative.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
5 of 5
  • BASF
  • Feicheng Acid Chemicals
  • GNFC
  • Perstorp
  • Eastman Chemical Company
  • Alfa Aesar
  • Thermo Fisher Scientific
  • Jinan Petrochemical Group
  • Merck
  • Polioli
  • Rashtriya Chemicals and Fertilizers
  • LUXI GROUP
  • Shanxi Province Yuanping Chemicals
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
Adroll
adroll