Formic Acid Market 2028 by Types, Application, Technology, Opportunities, End Users and Regions | The Insight Partners

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Formic Acid Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Grade (75%, 80%, 85%, 94%, 99%); Application (Agriculture, Leather Tanning, Rubber, Chemical & Pharmaceuticals, Textile Dyeing & Finishing, Others)

Report Code: TIPRE00003581 | No. of Pages: 150 | Category: Chemicals and Materials | Status: Upcoming


Formic acid is a colorless and volatile organic acid that occurs naturally in the fruit of the soaptree and ants. It is a by-product formed in the atmospheric oxidation of turpentine. Formic acid is most prominently used as a preservative and acts as an antibacterial agent in livestock feed. It is produced by hydrolysis of methyl format, and the other important method is acidolysis of formate salts.


The formic acid market has witnessed a significant growth owing to factors such as increasing usability of high-quality formic acid in a variety of end-user industries which includes pesticides, pharmaceuticals, and leather industry and growing textile, leather and rubber industries in developed and developing economies such as China and India. Moreover, ban on the use of antibiotics in European countries leads to high demand for formic acid which is used in huge quantity in animal feedstock's to improve the diet of animals and meat quality preferred by consumers. However, the easy availability of substitutes at a lower cost in the market is the major factor hampering the growth of the market.


The "Global Formic Acid Market Analysis to 2028" is a specialized and in-depth study of the Chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the formic acid market with detailed market segmentation by grade, application, and geography. The global formic acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading formic acid market players and offers key trends and opportunities in the market.


The global formic acid market is segmented on the basis of grade and application. On the basis of grade, the formic acid market is segmented into 75%, 80%, 85%, 94% and 99%. The formic acid market on the basis of the application is classified into agriculture, leather tanning, rubber, chemical & pharmaceuticals, textile dyeing & finishing and others.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global formic acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The formic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the formic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the formic acid in these regions.

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The reports cover key developments in the formic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from formic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for Formic acid in the global market. Below mentioned is the list of few companies engaged in the Formic acid market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the formic acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
  • Alfa Aesar (Thermo Fisher Scientific)
  • Anhui Asahikasei Chemical Co.
  • Eastman Chemical Company
  • Feicheng Acid Chemicals Co.,
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • Luxi Chemical Group Co., Ltd.
  • Perstorp
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

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The List of Companies

1. Alfa Aesar (Thermo Fisher Scientific)
2. Anhui Asahikasei Chemical Co.
4. Eastman Chemical Company
5. Feicheng Acid Chemicals Co.,
6. Gujarat Narmada Valley Fertilizers & Chemicals Limited
9. Luxi Chemical Group Co., Ltd.
10. Perstorp
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