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The formic acid market is forecasted to grow by USD 543.9 million during 2023-2028, accelerating at a CAGR of 5.2% during the forecast period. The report on the formic acid market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.Speak directly to the analyst to clarify any post sales queries you may have.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand for formic acid as a preservative, silage preservation and ban on antibiotics bolstering market demand, and rising demand for natural rubber.
The formic acid market is segmented as below:
By Distribution Channel
- Offline
- Online
By End-user
- Agriculture and animal feed
- Leather
- Textile
- Chemicals and pharmaceuticals
- Others
By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
The report on the formic acid market covers the following areas:
- Formic acid market sizing
- Formic acid market forecast
- Formic acid market industry analysis
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 an analysis of the key vendors.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global formic acid market: BASF SE, Eastman Chemical Co., GNFC Ltd., Joshi Agrochem Pharma Pvt. Ltd., Kakdiya Chemicals, Kemira Oyj, Luxi Chemical Group Co. Ltd., Merck KGaA, MERU CHEM PVT. LTD., NuGenTec, PETRONAS Chemicals Group Berhad, Pon Pure Chemicals Group, ProChem Inc., RXChemicals, Shandong Acid Technology Co. Ltd., Shandong Jiuan Chemical Industry Co. Ltd., Shijiazhuang Taihe Chemical Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Vizag Chemical International.Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is direct syntheses of formic acid in acidic media."
According to the report, one of the major drivers for this market is the rising demand for formic acid as a 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.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BASF SE
- Eastman Chemical Co.
- GNFC Ltd.
- Joshi Agrochem Pharma Pvt. Ltd.
- Kakdiya Chemicals
- Kemira Oyj
- Luxi Chemical Group Co. Ltd.
- Merck KGaA
- MERU CHEM PVT. LTD.
- NuGenTec
- PETRONAS Chemicals Group Berhad
- Pon Pure Chemicals Group
- ProChem Inc.
- RXChemicals
- Shandong Acid Technology Co. Ltd.
- Shandong Jiuan Chemical Industry Co. Ltd.
- Shijiazhuang Taihe Chemical Co. Ltd.
- Thermo Fisher Scientific Inc.
- Tokyo Chemical Industry Co. Ltd.
- Vizag Chemical International
