Formic Acid CAS 64 18 6 Market size was valued at USD 1.5 Billion in 2024 and is forecasted to grow at a CAGR of 6.1% from 2026 to 2033, reaching USD 2.5 Billion by 2033.
In 2022, the global formic acid market was valued at approximately USD 216.86 million and is projected to reach USD 301.46 million by 2030, growing at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. The Asia Pacific region dominated the market, accounting for about 46% of the global revenue share. This dominance is attributed to the regions expanding textile and leather industries, particularly in countries like China and India, where formic acid is extensively used in dyeing and tanning processes.Europe held the second largest market share, driven by stringent environmental regulations promoting the use of biodegradable chemicals, with significant consumption in countries such as Germany, France, and the United Kingdom. North America accounted for approximately 15% of the global market, with the United States and Canada utilizing formic acid primarily in agriculture as a feed preservative and in the rubber and automotive industries. Latin America and the Middle East & Africa regions, though holding smaller shares, are experiencing steady growth due to expanding agricultural activities and increasing industrial applications of formic acid.
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BASF
Feicheng Acid Chemicals
Luxi Chemcial Group
Eastman
BASF-YPC Company
ICIS
Tianyuan Group
Perstorp
Wuhan Ruisunny Chemical
Gujarat Narmada Valley Fertilizers & Chemicals
Rashtriya Chemicals and Fertilizers
Shandong Rongyue Chemical
Chongqing Chuandong Chemical
Huaqiang Chemical
Shanxi Yuanping Chemicals
Shandong Baoyuan Chemical
Kamdhenu Chemicals
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Formic Acid CAS 64 18 6 Market
Pulp and Paper Industry
Textile Manufacturing
Leather Treatment
Surface Treatment for Metals
Chemical Synthesis
Chemical Manufacturers
Agricultural Sector (Fertilizers and Herbicides)
Food and Beverage Industry (Food Preservatives)
Pharmaceuticals (Medications and Chemicals)
Plastic and Polymer Producers
Liquid Formic Acid
Solid Formic Acid (Crystals)
Concentrated Formic Acid
Diluted Formic Acid
Formic Acid Solutions
Technical Grade
Industrial Grade
Food Grade
Laboratory Grade
High Purity Grade
Direct Sales
Online Retail
Distributors and Wholesalers
Exclusive Suppliers
Export Markets
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Formic Acid CAS 64 18 6 Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Formic Acid CAS 64 18 6 Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Formic Acid CAS 64 18 6 Market, By Type
6. Global Formic Acid CAS 64 18 6 Market, By Application
7. Global Formic Acid CAS 64 18 6 Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Formic Acid CAS 64 18 6 Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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