Abstract
Summary
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.
The global Formic Acid market is projected to reach US$ 786.5 million by 2030 from an estimated US$ 653.7 million in 2024, at a CAGR of 3.1% during 2024 and 2030.
Global Formic Acid key players include BASF, LUXI, Eastman, Feicheng Acid, Chongqing Chuandong Chemical, etc. Global top five manufacturers hold a share about 85%.
China is the largest market, with a share about 45%, followed by Europe and North America, both have a share over 45 percent.
In terms of product, Content 85% is the largest segment, with a share about 60%. And in terms of application, the largest application is Agriculture, followed by Leather & Textile.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Formic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding Formic Acid.
The Formic Acid market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Formic Acid market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Formic Acid manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and regions.
Market Segmentation
By Company
BASF
Eastman
Perstorp
Rashtriya Chemicals and Fertilizers
Gujarat Narmada Valley Fertilizers & Chemicals
LUXI
Feicheng Acid
Chongqing Chuandong Chemical
Shijiazhuang Taihe Chemical
Segment by Type
Content 85%
Content below 85%
Content above 90%
Segment by Application
Agriculture
Leather & Textile
Rubber
Chemical & Pharmaceuticals
Others
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type and by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Sales (consumption), revenue of Formic Acid in global and regional level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 3: Detailed analysis of Formic Acid manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Formic Acid sales, revenue, price, gross margin, sales by region, by Type, by Application, and recent development, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 8: APAC by Type, by Application and by country, sales, and revenue for each segment.
Chapter 9: Europe by Type, by Application and by country, sales, and revenue for each segment.
Chapter 10: Latin America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 11: Middle East and Africa by Type, by Application and by country, sales, and revenue for each segment.
Chapter 12: Analysis of industrial chain, sales channel, key raw materials, distributors, and customers.
Chapter 13: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 14: Research Findings and Conclusion.
The global Formic Acid market is projected to reach US$ 786.5 million by 2030 from an estimated US$ 653.7 million in 2024, at a CAGR of 3.1% during 2024 and 2030.
Global Formic Acid key players include BASF, LUXI, Eastman, Feicheng Acid, Chongqing Chuandong Chemical, etc. Global top five manufacturers hold a share about 85%.
China is the largest market, with a share about 45%, followed by Europe and North America, both have a share over 45 percent.
In terms of product, Content 85% is the largest segment, with a share about 60%. And in terms of application, the largest application is Agriculture, followed by Leather & Textile.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Formic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyse their position in the current marketplace, and make informed business decisions regarding Formic Acid.
The Formic Acid market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Formic Acid market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Formic Acid manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and regions.
Market Segmentation
By Company
BASF
Eastman
Perstorp
Rashtriya Chemicals and Fertilizers
Gujarat Narmada Valley Fertilizers & Chemicals
LUXI
Feicheng Acid
Chongqing Chuandong Chemical
Shijiazhuang Taihe Chemical
Segment by Type
Content 85%
Content below 85%
Content above 90%
Segment by Application
Agriculture
Leather & Textile
Rubber
Chemical & Pharmaceuticals
Others
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type and by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Sales (consumption), revenue of Formic Acid in global and regional level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 3: Detailed analysis of Formic Acid manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Formic Acid sales, revenue, price, gross margin, sales by region, by Type, by Application, and recent development, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 8: APAC by Type, by Application and by country, sales, and revenue for each segment.
Chapter 9: Europe by Type, by Application and by country, sales, and revenue for each segment.
Chapter 10: Latin America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 11: Middle East and Africa by Type, by Application and by country, sales, and revenue for each segment.
Chapter 12: Analysis of industrial chain, sales channel, key raw materials, distributors, and customers.
Chapter 13: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 14: Research Findings and Conclusion.
Table of Contents
1 Study Coverage
1.1 Formic Acid Product Introduction
1.2 Market by Type
1.2.1 Global Formic Acid Market Size Growth Rate by Type (2019 VS 2023 VS 2030)
1.2.2 Content 85%
1.2.3 Content below 85%
1.2.4 Content above 90%
1.3 Market by Application
1.3.1 Global Formic Acid Market Size Growth Rate by Application (2019 VS 2023 VS 2030)
1.3.2 Agriculture
1.3.3 Leather & Textile
1.3.4 Rubber
1.3.5 Chemical & Pharmaceuticals
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
2 Executive Summary
2.1 Global Formic Acid Market Size Estimates and Forecasts
2.1.1 Global Formic Acid Revenue 2019-2030
2.1.2 Global Formic Acid Sales 2019-2030
2.2 Formic Acid Market Size by Region: 2023 Versus 2030
2.3 Formic Acid Sales by Region (2019-2030)
2.3.1 Global Formic Acid Sales by Region: 2019-2024
2.3.2 Global Formic Acid Sales Forecast by Region (2025-2030)
2.3.3 Global Formic Acid Sales Market Share by Region (2019-2030)
2.4 Formic Acid Market Estimates and Projections by Region (2025-2030)
2.4.1 Global Formic Acid Revenue by Region: 2019-2024
2.4.2 Global Formic Acid Revenue Forecast by Region (2025-2030)
2.4.3 Global Formic Acid Revenue Market Share by Region (2019-2030)
3 Global Formic Acid by Manufacturers
3.1 Global Top Formic Acid Manufacturers by Sales
3.1.1 Global Formic Acid Sales by Manufacturer (2019-2024)
3.1.2 Global Formic Acid Sales Market Share by Manufacturer (2019-2024)
3.2 Global Top Formic Acid Manufacturers by Revenue
3.2.1 Global Formic Acid Revenue by Manufacturer (2019-2024)
3.2.2 Global Formic Acid Revenue Share by Manufacturer (2019-2024)
3.3 Global Formic Acid Price by Manufacturer (2019-2024)
3.4 Competitive Landscape
3.4.1 Key Formic Acid Manufacturers Covered: Ranking by Revenue
3.4.2 Global Formic Acid Market Concentration Ratio (CR5 and HHI) & (2019-2024)
3.4.3 Global Formic Acid Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.5 Global Formic Acid Manufacturing Base Distribution, Product Type
3.5.1 Formic Acid Manufacturers Manufacturing Base Distribution, Headquarters
3.5.2 Manufacturers Formic Acid Product Type
3.5.3 Date of International Manufacturers Enter into Formic Acid Market
3.6 Manufacturers Mergers & Acquisitions, Expansion Plans
4 Company Profiles
4.1 BASF
4.1.1 BASF Company Information
4.1.2 BASF Description, Business Overview
4.1.3 BASF Formic Acid Products Offered
4.1.4 BASF Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.1.5 BASF Formic Acid Sales by Product in 2023
4.1.6 BASF Formic Acid Sales by Application in 2023
4.1.7 BASF Formic Acid Sales by Geographic Area in 2023
4.1.8 BASF Recent Developments
4.2 Eastman
4.2.1 Eastman Company Information
4.2.2 Eastman Description, Business Overview
4.2.3 Eastman Formic Acid Products Offered
4.2.4 Eastman Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.2.5 Eastman Formic Acid Sales by Product in 2023
4.2.6 Eastman Formic Acid Sales by Application in 2023
4.2.7 Eastman Formic Acid Sales by Geographic Area in 2023
4.2.8 Eastman Recent Developments
4.3 Perstorp
4.3.1 Perstorp Company Information
4.3.2 Perstorp Description, Business Overview
4.3.3 Perstorp Formic Acid Products Offered
4.3.4 Perstorp Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.3.5 Perstorp Formic Acid Sales by Product in 2023
4.3.6 Perstorp Formic Acid Sales by Application in 2023
4.3.7 Perstorp Formic Acid Sales by Geographic Area in 2023
4.3.8 Perstorp Recent Developments
4.4 Rashtriya Chemicals and Fertilizers
4.4.1 Rashtriya Chemicals and Fertilizers Company Information
4.4.2 Rashtriya Chemicals and Fertilizers Description, Business Overview
4.4.3 Rashtriya Chemicals and Fertilizers Formic Acid Products Offered
4.4.4 Rashtriya Chemicals and Fertilizers Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.4.5 Rashtriya Chemicals and Fertilizers Formic Acid Sales by Product in 2023
4.4.6 Rashtriya Chemicals and Fertilizers Formic Acid Sales by Application in 2023
4.4.7 Rashtriya Chemicals and Fertilizers Formic Acid Sales by Geographic Area in 2023
4.4.8 Rashtriya Chemicals and Fertilizers Recent Developments
4.5 Gujarat Narmada Valley Fertilizers & Chemicals
4.5.1 Gujarat Narmada Valley Fertilizers & Chemicals Company Information
4.5.2 Gujarat Narmada Valley Fertilizers & Chemicals Description, Business Overview
4.5.3 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Products Offered
4.5.4 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.5.5 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Sales by Product in 2023
4.5.6 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Sales by Application in 2023
4.5.7 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Sales by Geographic Area in 2023
4.5.8 Gujarat Narmada Valley Fertilizers & Chemicals Recent Developments
4.6 LUXI
4.6.1 LUXI Company Information
4.6.2 LUXI Description, Business Overview
4.6.3 LUXI Formic Acid Products Offered
4.6.4 LUXI Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.6.5 LUXI Formic Acid Sales by Product in 2023
4.6.6 LUXI Formic Acid Sales by Application in 2023
4.6.7 LUXI Formic Acid Sales by Geographic Area in 2023
4.6.8 LUXI Recent Development
4.7 Feicheng Acid
4.7.1 Feicheng Acid Company Information
4.7.2 Feicheng Acid Description, Business Overview
4.7.3 Feicheng Acid Formic Acid Products Offered
4.7.4 Feicheng Acid Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.7.5 Feicheng Acid Formic Acid Sales by Product in 2023
4.7.6 Feicheng Acid Formic Acid Sales by Application in 2023
4.7.7 Feicheng Acid Formic Acid Sales by Geographic Area in 2023
4.7.8 Feicheng Acid Recent Development
4.8 Chongqing Chuandong Chemical
4.8.1 Chongqing Chuandong Chemical Company Information
4.8.2 Chongqing Chuandong Chemical Description, Business Overview
4.8.3 Chongqing Chuandong Chemical Formic Acid Products Offered
4.8.4 Chongqing Chuandong Chemical Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.8.5 Chongqing Chuandong Chemical Formic Acid Sales by Product in 2023
4.8.6 Chongqing Chuandong Chemical Formic Acid Sales by Application in 2023
4.8.7 Chongqing Chuandong Chemical Formic Acid Sales by Geographic Area in 2023
4.8.8 Chongqing Chuandong Chemical Recent Development
4.9 Shijiazhuang Taihe Chemical
4.9.1 Shijiazhuang Taihe Chemical Company Information
4.9.2 Shijiazhuang Taihe Chemical Description, Business Overview
4.9.3 Shijiazhuang Taihe Chemical Formic Acid Products Offered
4.9.4 Shijiazhuang Taihe Chemical Formic Acid Sales, Revenue and Gross Margin (2019-2024)
4.9.5 Shijiazhuang Taihe Chemical Formic Acid Sales by Product in 2023
4.9.6 Shijiazhuang Taihe Chemical Formic Acid Sales by Application in 2023
4.9.7 Shijiazhuang Taihe Chemical Formic Acid Sales by Geographic Area in 2023
4.9.8 Shijiazhuang Taihe Chemical Recent Development
5 Breakdown Data by Type
5.1 Global Formic Acid Sales by Type (2019-2030)
5.1.1 Global Formic Acid Sales by Type (2019-2024)
5.1.2 Global Formic Acid Sales Forecast by Type (2025-2030)
5.1.3 Global Formic Acid Sales Market Share by Type (2019-2030)
5.2 Global Formic Acid Revenue Forecast by Type (2019-2030)
5.2.1 Global Formic Acid Revenue by Type (2019-2024)
5.2.2 Global Formic Acid Revenue Forecast by Type (2025-2030)
5.2.3 Global Formic Acid Revenue Market Share by Type (2019-2030)
5.3 Formic Acid Average Selling Price (ASP) by Type (2019-2030)
6 Breakdown Data by Application
6.1 Global Formic Acid Sales by Application (2019-2030)
6.1.1 Global Formic Acid Sales by Application (2019-2024)
6.1.2 Global Formic Acid Sales Forecast by Application (2025-2030)
6.1.3 Global Formic Acid Sales Market Share by Application (2019-2030)
6.2 Global Formic Acid Revenue Forecast by Application (2019-2030)
6.2.1 Global Formic Acid Revenue by Application (2019-2024)
6.2.2 Global Formic Acid Revenue Forecast by Application (2025-2030)
6.2.3 Global Formic Acid Revenue Market Share by Application (2019-2030)
6.3 Formic Acid Average Selling Price (ASP) by Application (2019-2030)
7 North America
7.1 North America Formic Acid Market Size YoY Growth 2019-2030
7.2 North America Formic Acid Market Facts & Figures by Country
7.2.1 North America Formic Acid Sales by Country (2019-2030)
7.2.2 North America Formic Acid Revenue by Country (2019-2030)
7.3 North America Formic Acid Sales by Type (2019-2024)
7.4 North America Formic Acid Sales by Application (2019-2024)
8 Asia-Pacific
8.1 Asia-Pacific Formic Acid Market Size YoY Growth 2019-2030
8.2 Asia-Pacific Formic Acid Market Facts & Figures by Region
8.2.1 Asia-Pacific Formic Acid Sales by Region (2019-2030)
8.2.2 Asia-Pacific Formic Acid Revenue by Region (2019-2030)
8.3 Asia-Pacific Formic Acid Sales by Type (2019-2024)
8.4 Asia-Pacific Formic Acid Sales by Application (2019-2024)
9 Europe
9.1 Europe Formic Acid Market Size YoY Growth 2019-2030
9.2 Europe Formic Acid Market Facts & Figures by Country
9.2.1 Europe Formic Acid Sales by Country (2019-2030)
9.2.2 Europe Formic Acid Revenue by Country (2019-2030)
9.3 Europe Formic Acid Sales by Type (2019-2024)
9.4 Europe Formic Acid Sales by Application (2019-2024)
10 Latin America
10.1 Latin America Formic Acid Market Size YoY Growth 2019-2030
10.2 Latin America Formic Acid Market Facts & Figures by Country
10.2.1 Latin America Formic Acid Sales by Country (2019-2030)
10.2.2 Latin America Formic Acid Revenue by Country (2019-2030)
10.3 Latin America Formic Acid Sales by Type (2019-2024)
10.4 Latin America Formic Acid Sales by Application (2019-2024)
11 Middle East and Africa
11.1 Middle East and Africa Formic Acid Market Size YoY Growth 2019-2030
11.2 Middle East and Africa Formic Acid Market Facts & Figures by Country
11.2.1 Middle East and Africa Formic Acid Sales by Country (2019-2030)
11.2.2 Middle East and Africa Formic Acid Revenue by Country (2019-2030)
11.3 Middle East and Africa Formic Acid Sales by Type (2019-2024)
11.4 Middle East and Africa Formic Acid Sales by Application (2019-2024)
12 Supply Chain and Sales Channel Analysis
12.1 Formic Acid Supply Chain Analysis
12.2 Formic Acid Key Raw Materials and Upstream Suppliers
12.3 Formic Acid Clients Analysis
12.4 Formic Acid Sales Channel and Sales Model Analysis
12.4.1 Formic Acid Distribution Channel Analysis: Indirect Sales VS Direct Sales
12.4.2 Formic Acid Distribution Channel Analysis: Online Sales VS Offline Sales
12.4.3 Formic Acid Distributors
13 Market Dynamics
13.1 Formic Acid Industry Trends
13.2 Formic Acid Market Drivers
13.3 Formic Acid Market Challenges
13.4 Formic Acid Market Restraints
14 Research Findings and Conclusion
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Author Details
15.3 Disclaimer