The global industrial formic acid market is expected to grow at a CAGR of 4.5% during the forecast period, from 2021 to 2030. The growth of this market can be attributed to the increasing demand for formic acid in various industries such as agriculture, animal feed industry, leather industry, rubber industry, chemicals/pharmaceuticals industry and textile industry. Formic acid is used as an intermediate chemical in various industries such as agriculture and animal feed industries for production of pesticides and fertilizers respectively. It is also used in the leather industry for tanning process and in rubber manufacturing process for vulcanization process. Formic acid is also used as a solvent or catalyst in chemical processes such as pharmaceuticals production or textile dyeing processes respectively.
Formamide Method accounted for the largest share of the global industrial formic acid market with a share of over 50%. Sodium Formate Method accounted for over 30% share followed by Methanol Carbonyl Synthesis with a share of around 10%. The application segment that contributed most towards revenue generation was agriculture/animal feed industry which accounted for over 40% revenue generated by this market followed by chemicals/pharmaceuticals industry with around 25%. North America dominated this market with more than 50% revenue generated followed by Europe which contributed around 30%. Asia Pacific region was expected to grow at a CAGR of 5%, from 2021-2030 due to increasing demand from countries like China and India among others.
Some Of The Growth Factors Of This Market:
- Formic acid is used in textile industry as an intermediate chemical for production of dyes and pigments which are used in textile dyeing process and also as a preservative agent for natural fibers such as wool or cotton during storage or transportation; it is also used in leather industry where it acts as an intermediate chemical for production of tannins which are used in tanning process; it is also used in paper & pulp industry where it acts as an intermediate chemical for production of sulfite pulping process which helps to remove lignin from wood chips before they are processed into paper pulp; moreover, formic acid can be utilized by other industries such as food processing, pharmaceuticals and cosmetics among others due to its wide range of applications across various industries.
Industry Growth Insights published a new data on “Industrial Formic Acid Industry Market”. The research report is titled “Industrial Formic Acid Industry Market research by Types (Sodium Formate Method, Methanol Carbonyl Synthesis, Formamide Method), By Applications (Agriculture/Animal Feed Industry, Leather Industry, Rubber Industry, Chemicals/Pharmaceuticals Industry, Textile Industry, Other), By Players/Companies BASF, Feicheng Acid Chemicals, Gujarat Narmada Valley Fertilizers, Helm Italia, Perstorp, Taminco, Polioli, Rashtriya Chemical, Shahid Rasouli Petrochemical, Shandong Baoyuan Chemical, Shanxi Yuanping, Sigma-Aldrich”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Formic Acid Industry Market Research Report
By Type
Sodium Formate Method, Methanol Carbonyl Synthesis, Formamide Method
By Application
Agriculture/Animal Feed Industry, Leather Industry, Rubber Industry, Chemicals/Pharmaceuticals Industry, Textile Industry, Other
By Companies
BASF, Feicheng Acid Chemicals, Gujarat Narmada Valley Fertilizers, Helm Italia, Perstorp, Taminco, Polioli, Rashtriya Chemical, Shahid Rasouli Petrochemical, Shandong Baoyuan Chemical, Shanxi Yuanping, Sigma-Aldrich
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Formic Acid Industry Market Report Segments:
The global Industrial Formic Acid Industry market is segmented on the basis of:
Types
Sodium Formate Method, Methanol Carbonyl Synthesis, Formamide Method
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Agriculture/Animal Feed Industry, Leather Industry, Rubber Industry, Chemicals/Pharmaceuticals Industry, Textile Industry, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BASF
- Feicheng Acid Chemicals
- Gujarat Narmada Valley Fertilizers
- Helm Italia
- Perstorp
- Taminco
- Polioli
- Rashtriya Chemical
- Shahid Rasouli Petrochemical
- Shandong Baoyuan Chemical
- Shanxi Yuanping
- Sigma-Aldrich
Highlights of The Industrial Formic Acid Industry Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Sodium Formate Method
- Methanol Carbonyl Synthesis
- Formamide Method
- By Application:
- Agriculture/Animal Feed Industry
- Leather Industry
- Rubber Industry
- Chemicals/Pharmaceuticals Industry
- Textile Industry
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Formic Acid Industry Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial formic acid industry is a manufacturing industry that produces industrial grade formic acid.
Some of the major players in the industrial formic acid industry market are BASF, Feicheng Acid Chemicals, Gujarat Narmada Valley Fertilizers, Helm Italia, Perstorp, Taminco, Polioli, Rashtriya Chemical, Shahid Rasouli Petrochemical, Shandong Baoyuan Chemical, Shanxi Yuanping, Sigma-Aldrich.
The industrial formic acid industry market is expected to register a CAGR of 4.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Formic Acid Industry Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Industrial Formic Acid Industry Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Industrial Formic Acid Industry Market - Supply Chain
4.5. Global Industrial Formic Acid Industry Market Forecast
4.5.1. Industrial Formic Acid Industry Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Industrial Formic Acid Industry Market Size (000 Units) and Y-o-Y Growth
4.5.3. Industrial Formic Acid Industry Market Absolute $ Opportunity
5. Global Industrial Formic Acid Industry Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Industrial Formic Acid Industry Market Size and Volume Forecast by Type
5.3.1. Sodium Formate Method
5.3.2. Methanol Carbonyl Synthesis
5.3.3. Formamide Method
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Industrial Formic Acid Industry Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Industrial Formic Acid Industry Market Size and Volume Forecast by Application
6.3.1. Agriculture/Animal Feed Industry
6.3.2. Leather Industry
6.3.3. Rubber Industry
6.3.4. Chemicals/Pharmaceuticals Industry
6.3.5. Textile Industry
6.3.6. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Industrial Formic Acid Industry Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Industrial Formic Acid Industry Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Industrial Formic Acid Industry Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Industrial Formic Acid Industry Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Industrial Formic Acid Industry Demand Share Forecast, 2019-2026
9. North America Industrial Formic Acid Industry Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Industrial Formic Acid Industry Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Industrial Formic Acid Industry Market Size and Volume Forecast by Application
9.4.1. Agriculture/Animal Feed Industry
9.4.2. Leather Industry
9.4.3. Rubber Industry
9.4.4. Chemicals/Pharmaceuticals Industry
9.4.5. Textile Industry
9.4.6. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Industrial Formic Acid Industry Market Size and Volume Forecast by Type
9.7.1. Sodium Formate Method
9.7.2. Methanol Carbonyl Synthesis
9.7.3. Formamide Method
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Industrial Formic Acid Industry Demand Share Forecast, 2019-2026
10. Latin America Industrial Formic Acid Industry Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Industrial Formic Acid Industry Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Industrial Formic Acid Industry Market Size and Volume Forecast by Application
10.4.1. Agriculture/Animal Feed Industry
10.4.2. Leather Industry
10.4.3. Rubber Industry
10.4.4. Chemicals/Pharmaceuticals Industry
10.4.5. Textile Industry
10.4.6. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Industrial Formic Acid Industry Market Size and Volume Forecast by Type
10.7.1. Sodium Formate Method
10.7.2. Methanol Carbonyl Synthesis
10.7.3. Formamide Method
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Industrial Formic Acid Industry Demand Share Forecast, 2019-2026
11. Europe Industrial Formic Acid Industry Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Industrial Formic Acid Industry Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Industrial Formic Acid Industry Market Size and Volume Forecast by Application
11.4.1. Agriculture/Animal Feed Industry
11.4.2. Leather Industry
11.4.3. Rubber Industry
11.4.4. Chemicals/Pharmaceuticals Industry
11.4.5. Textile Industry
11.4.6. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Industrial Formic Acid Industry Market Size andVolume Forecast by Type
11.7.1. Sodium Formate Method
11.7.2. Methanol Carbonyl Synthesis
11.7.3. Formamide Method
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Industrial Formic Acid Industry Demand Share, 2019-2026
12. Asia Pacific Industrial Formic Acid Industry Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Industrial Formic Acid Industry Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Industrial Formic Acid Industry Market Size and Volume Forecast by Application
12.4.1. Agriculture/Animal Feed Industry
12.4.2. Leather Industry
12.4.3. Rubber Industry
12.4.4. Chemicals/Pharmaceuticals Industry
12.4.5. Textile Industry
12.4.6. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Industrial Formic Acid Industry Market Size and Volume Forecast by Type
12.7.1. Sodium Formate Method
12.7.2. Methanol Carbonyl Synthesis
12.7.3. Formamide Method
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Industrial Formic Acid Industry Demand Share, 2019-2026
13. Middle East & Africa Industrial Formic Acid Industry Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Industrial Formic Acid Industry Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Industrial Formic Acid Industry Market Size and Volume Forecast by Application
13.4.1. Agriculture/Animal Feed Industry
13.4.2. Leather Industry
13.4.3. Rubber Industry
13.4.4. Chemicals/Pharmaceuticals Industry
13.4.5. Textile Industry
13.4.6. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Industrial Formic Acid Industry Market Size and Volume Forecast by Type
13.7.1. Sodium Formate Method
13.7.2. Methanol Carbonyl Synthesis
13.7.3. Formamide Method
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Industrial Formic Acid Industry Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Industrial Formic Acid Industry Market: Market Share Analysis
14.2. Industrial Formic Acid Industry Distributors and Customers
14.3. Industrial Formic Acid Industry Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. BASF
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Feicheng Acid Chemicals
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Gujarat Narmada Valley Fertilizers
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Helm Italia
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Perstorp
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Taminco
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Polioli
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Rashtriya Chemical
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Shahid Rasouli Petrochemical
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Shandong Baoyuan Chemical
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Shanxi Yuanping
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Sigma-Aldrich
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
