This report studies the Formic Acid market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Formic acid (also called methanoic acid) is a colorless liquid with a sharp odor. It is also the simplest carboxylic acid. The chemical formula is HCOOH or HCO2H. Formic acid is an environmentally acceptable and highly efficient organic acid. It is used in many areas, from leather processing to feed preservation.
Formic acid is soluble in water, various alcohols, acetone and ether. Most applications require formic acid in concentrations of 85%, 90%, 94% or 99%; the 85% product accounts for the major portion of global demand and is considered the industry standard.
Globally, the global production was 1015 K MT in 2016 and it will reach 1217 K MT in 2022; at the same time, the global production value was 558 Million USD in 2016 and it will be 804 Million USD in 2022.
In addition, the production regions of formic acid are mainly located in China, US, EU and India. China was the leader production regions, which achieved about 48% volume market share in 2016.
In 2015, BASF bullied the first plant of formic acid in Geismar, Louisiana. It is the only formic acid production plant in USA.
The global Formic Acid market was 760 million US$ in 2017 and is expected to 890 million US$ by the end of 2025, growing at a CAGR of 2.0% between 2018 and 2025.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Formic Acid in these regions, from 2013 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Rashtriya Chemicals and Fertilizers
Gujarat Narmada Valley Fertilizers & Chemicals
Wuhan Ruisunny Chemical
Shandong Rongyue Chemical
Chongqing Chuandong Chemical
Shanxi Yuanping Chemicals
Shandong Baoyuan Chemical
By the product type, the market is primarily split into
By the end users/application, this report covers the following segments
Leather & Textile
Chemical & Pharmaceuticals
We can also provide the customized separate regional or country-level reports, for the following regions:
Rest of Asia-Pacific
Rest of Europe
Central & South America
Rest of Central & South America
Middle East & Africa
Rest of Middle East & Africa
The study objectives of this report are:
To study and analyze the global Formic Acid market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
To understand the structure of Formic Acid market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Formic Acid manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Formic Acid with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Formic Acid submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Formic Acid are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025
This report includes the estimation of market size for value (million USD) and volume (K MT). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Formic Acid market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Raw material suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Formic Acid market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.