Industry: Chemical & Material
Published Date: 2026-07-12
Pages: 131 Pages
Report ld: 6878518
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N-Formylmorpholine (NFM) Market Size(US$)

CAGR 2026-2032
4.6%
Market Size,2032
USD 82.81
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global N-Formylmorpholine (NFM) market size was US$ 59.40 million in 2025 and is forecast to reach a readjusted size of US$ 82.81 million by 2032 with a CAGR of 4.6% during the forecast period 2026-2032.
In 2025, global N-Formylmorpholine (NFM) production reached approximately 18,000 tons, with a average price of 3,300 USD/Ton.
N-Formylmorpholine (NFM), CAS No. 4394-85-8, molecular formula C5H9NO2 and molecular weight 115.13, is a morpholine-derived cyclic amide and specialty fine chemical produced through formylation of morpholine. It is generally supplied as a colorless to pale-yellow liquid or low-melting material and features high polarity, high boiling point, good thermal stability and strong selective solvency. Unlike commodity solvents, the key commercial value of NFM lies in its ability to selectively separate aromatics from non-aromatics, making it an important solvent for BTX aromatics extraction, extractive distillation, acid-gas removal, natural gas or syngas purification, and high-boiling reaction solvent applications in pharmaceuticals, agrochemicals, electronic chemicals and other fine chemical synthesis processes. NFM is positioned at the intersection of refining separation technology and specialty chemical solvents, with demand driven by aromatics production, refinery-petrochemical integration, gas treatment and the upgrading of high-purity specialty solvents.
The industrial production of N-Formylmorpholine(NFM) generally uses morpholine as the core feedstock and follows formic-acid, methyl-formate or other formylation routes. In the formic-acid route, morpholine reacts with formic acid, followed by dehydration, distillation and purification to obtain industrial or high-purity N-Formylmorpholine(NFM). In the methyl-formate route, morpholine reacts with methyl formate to produce N-Formylmorpholine(NFM) with methanol as a by-product; this route offers a cleaner and less corrosive reaction system but requires stronger control over reaction conditions, distillation and by-product recovery. Commercial supply models can be divided into three categories: large integrated chemical companies supplying refining and gas-treatment customers through amines and solvent portfolios; regional fine chemical producers supplying industrial-grade N-Formylmorpholine(NFM) in drums, IBCs or bulk; and high-purity chemical suppliers serving R&D, pharmaceutical, agrochemical and electronic chemical customers with small-pack or high-purity grades. Estimated gross margins vary by grade and customer structure: standard industrial-grade N-Formylmorpholine(NFM) generally ranges from 15% to 25%; large-volume long-term supply or price-competitive products may fall below 20%; high-purity, low-moisture, low-color, customized-packaging and certified products may reach 25% to 40%; reagent-grade and special synthesis-grade products can show higher apparent margins, although their volume contribution is limited. The upstream chain includes morpholine, formic acid or methyl formate, methanol, carbon monoxide, catalysts, dehydrating agents and packaging materials; the midstream covers formylation, distillation, purification, quality control, hazardous chemical storage and logistics; and the downstream serves aromatics extraction units, integrated refining-petrochemical companies, natural gas and syngas purification, pharmaceutical and agrochemical intermediate synthesis, specialty solvent systems and fine chemical reaction processes.
Market development opportunities for N-Formylmorpholine(NFM) are primarily driven by the shift of refinery-petrochemical integration toward higher chemical yields and deeper aromatics value chains. BTX is a key building block for polyester, nylon, engineering plastics, solvents and many fine chemicals, and higher-purity benzene, toluene and xylene require more efficient separation technologies. With strong selectivity, thermal stability and recyclability in aromatics extractive distillation, N-Formylmorpholine(NFM) is positioned as a key solvent for aromatics-unit upgrading. As refining projects in China, India, the Middle East and Southeast Asia move toward higher chemical output, specialty oils and aromatics downstream processing, N-Formylmorpholine(NFM) demand is expected to evolve from simple solvent procurement toward integrated solutions combining solvent supply, process support and long-term reliability. At the same time, rising demand for natural gas, syngas, refinery gas and acid-gas purification creates additional growth space for N-Formylmorpholine(NFM) in gas-treatment applications. Producers with stable morpholine supply, purification know-how, low-moisture control, customer qualification capabilities and hazardous-chemical logistics will be better positioned to penetrate high-end refining and specialty chemical customers.
The major challenges for the N-Formylmorpholine(NFM) market come from concentrated demand, long customer qualification cycles, strong bargaining power from plant-based customers and upstream feedstock price volatility. Core N-Formylmorpholine(NFM) consumption is concentrated in aromatics extraction, gas treatment and specialty synthesis, so incremental demand is closely linked to refining project investment, aromatics-unit operating rates and gas-treatment project progress. When refining profitability is under pressure, aromatics products face temporary oversupply or project start-ups are delayed, N-Formylmorpholine(NFM) demand growth may fluctuate. In addition, N-Formylmorpholine(NFM) is both a hazardous chemical and a specialty fine chemical, requiring strict control of moisture, color, acidity, residual morpholine and heavy components. Customers focus on long-term stability, impurity impact, solvent loss and process compatibility, resulting in long supplier approval cycles. Tightening environmental, safety and energy-efficiency requirements also raises compliance costs for smaller producers. For low-end industrial suppliers, price competition and repackaging by traders may compress profitability; for high-end customer-oriented producers, risks are concentrated in quality consistency, batch traceability, continuous supply and international customer certification.
Future N-Formylmorpholine(NFM) demand is expected to show three parallel trends: stable upgrading of refinery-petrochemical plant demand, structural growth in gas treatment and expansion of high-purity demand in fine chemicals. Aromatics extraction will remain the most representative industrial application of N-Formylmorpholine(NFM). As refiners continue to improve aromatics recovery from light cycle oil, reformate, pyrolysis gasoline and coal-chemical by-product streams, N-Formylmorpholine(NFM) will benefit from high-purity BTX production, energy-saving revamps and improved solvent recycling efficiency. In gas treatment, stricter control of acid components such as CO2 and H2S in natural gas, syngas and refinery gas will support the extended use of N-Formylmorpholine(NFM) as a physical or selective solvent. In fine chemicals, rising demand for high-purity, low-moisture and low-metal-ion solvents in pharmaceuticals, agrochemicals, electronic chemicals and high-performance materials will push N-Formylmorpholine(NFM) beyond a traditional industrial solvent toward a functional process solvent. Overall, N-Formylmorpholine(NFM) is not a commodity chemical market but a niche, high-barrier specialty solvent segment. Its competitive focus will shift from price and capacity alone to purity control, reliable delivery, process compatibility, customer qualification and global supply capability.
The global N-Formylmorpholine (NFM) market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2021-2032.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Report scope, segment-level executive summary (by Type, by Application) and market evolution across the short, mid and long term
Chapter 2: Quantitative analysis of N-Formylmorpholine (NFM) sales and revenue at global, regional, and country levels, highlighting market size and growth potential by region
Chapter 3: Competitive landscape of N-Formylmorpholine (NFM) manufacturers (sales, revenue, pricing, market share, industry rankings, and M&A / expansion plans)
Chapter 4: by Type-based segmentation analysis (sales, revenue, pricing, and growth potential) to identify blue-ocean product segments
Chapter 5: by Application-based segmentation analysis (sales, revenue, pricing, and growth potential) to uncover high-value downstream markets
Chapter 6: Regional breakdown by company, customer, by Type and by Application (sales, revenue, and pricing for each segment)
Chapter 7: Key manufacturer profiles –company overview, N-Formylmorpholine (NFM) product descriptions and specifications, revenue, gross margins, and recent developments
Chapter 8: Industry chain analysis – upstream raw materials, manufacturing links, and downstream application sectors
Chapter 9: Sales channels and distributor analysis – routes to market and key customer interfaces
Chapter 10: Market dynamics – trends, drivers, restraints, risks for manufacturers, and the impact of relevant industry policies
Chapter 11: Key findings, main takeaways, and overall conclusions of the report.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the N-Formylmorpholine (NFM) value chain, addressing:
- Market entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Market Overview
1.1 N-Formylmorpholine (NFM) Product Scope
1.2 N-Formylmorpholine (NFM) by Type
1.2.1 Global N-Formylmorpholine (NFM) Sales by Type (2021, 2025 & 2032)
1.2.2 < 99.5%
1.2.3 ≥ 99.5%
1.3 N-Formylmorpholine (NFM) by Application
1.3.1 Global N-Formylmorpholine (NFM) Sales Comparison by Application (2021, 2025 & 2032)
1.3.2 Extracting Agent
1.3.3 Desulfurize
1.3.4 Pharmaceutical
1.3.5 Others
1.4 Global N-Formylmorpholine (NFM) Market Estimates and Forecasts (2021-2032)
1.4.1 Global N-Formylmorpholine (NFM) Market Size (Value) and Growth Rate (2021-2032)
1.4.2 Global N-Formylmorpholine (NFM) Market Size (Volume) and Growth Rate (2021-2032)
1.4.3 Global N-Formylmorpholine (NFM) Price Trends (2021-2032)
1.5 Assumptions and Limitations
2 Market Size and Prospects by Region
2.1 Global N-Formylmorpholine (NFM) Market Size by Region: 2021 VS 2025 VS 2032
2.2 Global N-Formylmorpholine (NFM) Historical Market Scenario by Region (2021-2026)
2.2.1 Global N-Formylmorpholine (NFM) Sales Market Share by Region (2021-2026)
2.2.2 Global N-Formylmorpholine (NFM) Revenue Market Share by Region (2021-2026)
2.3 Global N-Formylmorpholine (NFM) Market Estimates and Forecasts by Region (2027-2032)
2.3.1 Global N-Formylmorpholine (NFM) Sales Estimates and Forecasts by Region (2027-2032)
2.3.2 Global N-Formylmorpholine (NFM) Revenue Forecast by Region (2027-2032)
2.4 Major Regions and Emerging Market Analysis
2.4.1 Europe N-Formylmorpholine (NFM) Market Size and Prospects (2021-2032)
2.4.2 China N-Formylmorpholine (NFM) Market Size and Prospects (2021-2032)
2.4.3 India N-Formylmorpholine (NFM) Market Size and Prospects (2021-2032)
3 Global Market Size by Type
3.1 Global N-Formylmorpholine (NFM) Historical Market Review by Type (2021-2026)
3.1.1 Global N-Formylmorpholine (NFM) Sales by Type (2021-2026)
3.1.2 Global N-Formylmorpholine (NFM) Revenue by Type (2021-2026)
3.1.3 Global N-Formylmorpholine (NFM) Average Price by Type (2021-2026)
3.2 Global N-Formylmorpholine (NFM) Market Estimates and Forecasts by Type (2027-2032)
3.2.1 Global N-Formylmorpholine (NFM) Sales Forecast by Type (2027-2032)
3.2.2 Global N-Formylmorpholine (NFM) Revenue Forecast by Type (2027-2032)
3.2.3 Global N-Formylmorpholine (NFM) Price Forecast by Type (2027-2032)
3.3 Representative Players for Different Types of N-Formylmorpholine (NFM)
4 Global Market Size by Application
4.1 Global N-Formylmorpholine (NFM) Historical Market Review by Application (2021-2026)
4.1.1 Global N-Formylmorpholine (NFM) Sales by Application (2021-2026)
4.1.2 Global N-Formylmorpholine (NFM) Revenue by Application (2021-2026)
4.1.3 Global N-Formylmorpholine (NFM) Average Price by Application (2021-2026)
4.2 Global N-Formylmorpholine (NFM) Market Estimates and Forecasts by Application (2027-2032)
4.2.1 Global N-Formylmorpholine (NFM) Sales Forecast by Application (2027-2032)
4.2.2 Global N-Formylmorpholine (NFM) Revenue Forecast by Application (2027-2032)
4.2.3 Global N-Formylmorpholine (NFM) Price Forecast by Application (2027-2032)
4.3 New Sources of Growth in N-Formylmorpholine (NFM) Applications
5 Competition Landscape by Players
5.1 Global N-Formylmorpholine (NFM) Sales by Player (2021-2026)
5.2 Global Top N-Formylmorpholine (NFM) Players by Revenue (2021-2026)
5.3 Global N-Formylmorpholine (NFM) Market Share by Company Type (Tier 1, Tier 2, and Tier 3), based on N-Formylmorpholine (NFM) revenue as of 2025
5.4 Global N-Formylmorpholine (NFM) Average Price by Company (2021-2026)
5.5 Global Key Manufacturers of N-Formylmorpholine (NFM), Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of N-Formylmorpholine (NFM), Product Type & Application
5.7 Global Key Manufacturers of N-Formylmorpholine (NFM), Date of Entry into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Regional Analysis
6.1 Europe Market: Players, Segments, Downstream and Major Customers
6.1.1 Europe N-Formylmorpholine (NFM) Sales by Company
6.1.1.1 Europe N-Formylmorpholine (NFM) Sales by Company (2021-2026)
6.1.1.2 Europe N-Formylmorpholine (NFM) Revenue by Company (2021-2026)
6.1.2 Europe N-Formylmorpholine (NFM) Sales Breakdown by Type (2021-2026)
6.1.3 Europe N-Formylmorpholine (NFM) Sales Breakdown by Application (2021-2026)
6.1.4 Europe N-Formylmorpholine (NFM) Major Customers
6.1.5 Europe Market Trends and Opportunities
6.2 China Market: Players, Segments, Downstream and Major Customers
6.2.1 China N-Formylmorpholine (NFM) Sales by Company
6.2.1.1 China N-Formylmorpholine (NFM) Sales by Company (2021-2026)
6.2.1.2 China N-Formylmorpholine (NFM) Revenue by Company (2021-2026)
6.2.2 China N-Formylmorpholine (NFM) Sales Breakdown by Type (2021-2026)
6.2.3 China N-Formylmorpholine (NFM) Sales Breakdown by Application (2021-2026)
6.2.4 China N-Formylmorpholine (NFM) Major Customers
6.2.5 China Market Trends and Opportunities
6.3 India Market: Players, Segments, Downstream and Major Customers
6.3.1 India N-Formylmorpholine (NFM) Sales by Company
6.3.1.1 India N-Formylmorpholine (NFM) Sales by Company (2021-2026)
6.3.1.2 India N-Formylmorpholine (NFM) Revenue by Company (2021-2026)
6.3.2 India N-Formylmorpholine (NFM) Sales Breakdown by Type (2021-2026)
6.3.3 India N-Formylmorpholine (NFM) Sales Breakdown by Application (2021-2026)
6.3.4 India N-Formylmorpholine (NFM) Major Customers
6.3.5 India Market Trends and Opportunities
7 Company Profiles and Key Figures
7.1 BASF
7.1.1 BASF Company Information
7.1.2 BASF Business Overview
7.1.3 BASF N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.1.4 BASF N-Formylmorpholine (NFM) Products Offered
7.1.5 BASF Recent Development
7.2 Amines & Plasticizers Limited
7.2.1 Amines & Plasticizers Limited Company Information
7.2.2 Amines & Plasticizers Limited Business Overview
7.2.3 Amines & Plasticizers Limited N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.2.4 Amines & Plasticizers Limited N-Formylmorpholine (NFM) Products Offered
7.2.5 Amines & Plasticizers Limited Recent Development
7.3 Jiangsu Lianrun Chemical
7.3.1 Jiangsu Lianrun Chemical Company Information
7.3.2 Jiangsu Lianrun Chemical Business Overview
7.3.3 Jiangsu Lianrun Chemical N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.3.4 Jiangsu Lianrun Chemical N-Formylmorpholine (NFM) Products Offered
7.3.5 Jiangsu Lianrun Chemical Recent Development
7.4 Liyang Yutian Chemical
7.4.1 Liyang Yutian Chemical Company Information
7.4.2 Liyang Yutian Chemical Business Overview
7.4.3 Liyang Yutian Chemical N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.4.4 Liyang Yutian Chemical N-Formylmorpholine (NFM) Products Offered
7.4.5 Liyang Yutian Chemical Recent Development
7.5 Southwest Institute of Chemical
7.5.1 Southwest Institute of Chemical Company Information
7.5.2 Southwest Institute of Chemical Business Overview
7.5.3 Southwest Institute of Chemical N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.5.4 Southwest Institute of Chemical N-Formylmorpholine (NFM) Products Offered
7.5.5 Southwest Institute of Chemical Recent Development
7.6 Sterling Auxiliaries
7.6.1 Sterling Auxiliaries Company Information
7.6.2 Sterling Auxiliaries Business Overview
7.6.3 Sterling Auxiliaries N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.6.4 Sterling Auxiliaries N-Formylmorpholine (NFM) Products Offered
7.6.5 Sterling Auxiliaries Recent Development
7.7 Sichuan Jingshida Technology
7.7.1 Sichuan Jingshida Technology Company Information
7.7.2 Sichuan Jingshida Technology Business Overview
7.7.3 Sichuan Jingshida Technology N-Formylmorpholine (NFM) Sales, Revenue and Gross Margin (2021-2026)
7.7.4 Sichuan Jingshida Technology N-Formylmorpholine (NFM) Products Offered
7.7.5 Sichuan Jingshida Technology Recent Development
8 N-Formylmorpholine (NFM) Manufacturing Cost Analysis
8.1 N-Formylmorpholine (NFM) Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of N-Formylmorpholine (NFM)
8.4 N-Formylmorpholine (NFM) Industrial Chain Analysis
9 Marketing Channels, Distributors and Customers
9.1 Marketing Channels
9.2 N-Formylmorpholine (NFM) Distributors List
9.3 N-Formylmorpholine (NFM) Customers
10 N-Formylmorpholine (NFM) Market Dynamics
10.1 N-Formylmorpholine (NFM) Industry Trends
10.2 N-Formylmorpholine (NFM) Market Drivers
10.3 N-Formylmorpholine (NFM) Market Challenges
10.4 N-Formylmorpholine (NFM) Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
WHY THIS REPORT
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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