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.
Scope of the Report:Globally, the global production was 1015 K MT in 2016 and it will reach 1217 K MT 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.
As for the region consumption, China remained the largest market for formic acid in the world, with 34% market share consumption in 2016. Other major consuming regions include EU and US, which account for 29 % and 4% respectively. At present, the methyl formate hydrolysis technology is mainly adopted for producing formic acid and accounted for 81.59% in 2015.
The downstream demand of formic acid is rigidity. Major applications include silage and animal feed preservation, leather and tanning, textiles, formate salts, pharmaceuticals/food chemicals, rubber chemicals (antiozonants and coagulants), catalysts and plasticizers.In 2016, the largest use, accounting for about 42% of global demand, is in Leather & Textile. Other major uses are 27% in agriculture.
The worldwide market for Formic Acid is expected to grow at a CAGR of roughly 1.2% over the next five years, will reach 828.1 million US$ in 2026, from 778.4 million US$ in 2020, according to a new study.
This report focuses on the Formic Acid in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Market Segment by Manufacturers, this report covers BASF
LUXI
Eastan
Rashtriya Chemicals and Fertilizers
Tianyuan Group
Gujarat Narmada Valley Fertilizers & Chemicals
Feicheng Acid
Perstorp
Wuhan Ruisunny Chemical
Shandong Rongyue Chemical
Chongqing Chuandong Chemical
Huaqiang Chemical
Shanxi Yuanping Chemicals
Shandong Baoyuan Chemical
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers 0.85
0.98
Others
Market Segment by Applications, can be divided into Agriculture
Leather and Textile
Rubber
Chemical and Pharmaceuticals
Other
The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Formic Acid product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Formic Acid, with price, sales, revenue and global market share of Formic Acid in 2018 and 2019.
Chapter 3, the Formic Acid competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Formic Acid breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.
Chapter 12, Formic Acid market forecast, by regions, type and application, with sales and revenue, from 2020 to 2026.
Chapter 13, 14 and 15, to describe Formic Acid sales channel, distributors, customers, research findings and conclusion, appendix and data source.
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
