Formic Acid Market
Formic Acid Market - Global Industry Assessment & Forecast
#
Pages:
200
Base Year:
2023
Sep - 2024
Format:
Report Code:
VMR-2610
Segments Covered
By
Grade 85%, 90%, 94%, 99%
-
By
Application Silage and Animal Feed, Leather Tanning, Textile Dyeing and Finishing, Pharmaceuticals/Food Chemicals, Rubber Products, Coatings, Oil & Gas, Others (Deicing Agents, Drilling Fluids, etc.)
-
By
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
 Base Year:
|
2023 |
| Forecast
Years:
|
2024 - 2032 |
 Historical
Years:
|
2018 - 2022 |
 Revenue
2023: |
USD 2.4 Billion |
 Revenue 2032:
|
USD 5.22 Billion |
 Revenue CAGR
(2024 - 2032): |
9.1% |
Fastest Growing Region (2024 -
2032)
|
Asia Pacific |
Largest Region (2023):
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Formic Acid Market Segment Analysis
- Formic Acid Grade Outlook (Revenue, USD Million, 2018 - 2030)
- 85%
- 90%
- 94%
- 99%
- Formic Acid Application Outlook (Revenue, USD Million, 2018 - 2030)
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
-
Regional Outlook (Revenue, USD Billion/Million, 2018 - 2030)
- North America
-
North America Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
-
North America Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- U.S.
- U.S. Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- U.S. Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- U.S. Formic Acid Market, by Grade
- Canada
- Canada Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Canada Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Canada Formic Acid Market, by Grade
-
Mexico
- Mexico Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Mexico Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Mexico Formic Acid Market, by Grade
-
North America Formic Acid Market, by Grade
- Europe
-
Europe Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
-
Europe Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- U. K.
- U.K. Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- U.K. Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- U.K. Formic Acid Market, by Grade
- France
- France Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- France Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- France Formic Acid Market, by Grade
-
Germany
- Germany Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Germany Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Germany Formic Acid Market, by Grade
-
Italy
- Italy Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Italy Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Italy Formic Acid Market, by Grade
-
Spain
- Spain Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Spain Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Spain Formic Acid Market, by Grade
-
Rest of Europe
- Rest of Europe Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Rest of Europe Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Rest of Europe Formic Acid Market, by Grade
-
Europe Formic Acid Market, by Grade
- Asia Pacific
-
Asia Pacific Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
-
Asia Pacific Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- China
- China Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- China Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- China Formic Acid Market, by Grade
- Japan
- Japan Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Japan Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Japan Formic Acid Market, by Grade
-
Germany
- Germany Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Germany Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Germany Formic Acid Market, by Grade
-
India
- India Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- India Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- India Formic Acid Market, by Grade
-
South Korea
- South Korea Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- South Korea Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- South Korea Formic Acid Market, by Grade
-
South East Asia
- South East Asia Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- South East Asia Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- South East Asia Formic Acid Market, by Grade
-
Rest of Asia Pacific
- Rest of Asia Pacific Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Rest of Asia Pacific Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Rest of Asia Pacific Formic Acid Market, by Grade
-
Asia Pacific Formic Acid Market, by Grade
- Latin America
-
Latin America Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
-
Latin America Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Brazil
- Brazil Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Brazil Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Brazil Formic Acid Market, by Grade
- Argentina
- Argentina Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Argentina Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Argentina Formic Acid Market, by Grade
-
Rest of Latin America
- Rest of Latin America Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Rest of Latin America Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Rest of Latin America Formic Acid Market, by Grade
-
Latin America Formic Acid Market, by Grade
- Middle East & Africa
-
Middle East & Africa Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
-
Middle East & Africa Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- GCC Countries
- GCC Countries Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- GCC Countries Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- GCC Countries Formic Acid Market, by Grade
- South Africa
- South Africa Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- South Africa Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- South Africa Formic Acid Market, by Grade
-
Rest of Middle East & Africa
- Rest of Middle East & Africa Formic Acid Market, by Grade
- 85%
- 90%
- 94%
- 99%
- Rest of Middle East & Africa Formic Acid Market, by Application
- Silage and Animal Feed
- Leather Tanning
- Textile Dyeing and Finishing
- Pharmaceuticals/Food Chemicals
- Rubber Products
- Coatings
- Oil & Gas
- Others (Deicing Agents
- Drilling Fluids
- etc.)
- Rest of Middle East & Africa Formic Acid Market, by Grade
-
Middle East & Africa Formic Acid Market, by Grade
- North America
FAQ
Frequently Asked Question
What is the global demand for Formic Acid in terms of revenue?
-
The global Formic Acid valued at USD 2.4 Billion in 2023 and is expected to reach USD 5.22 Billion in 2032 growing at a CAGR of 9.1%.
Which are the prominent players in the market?
-
The prominent players in the market are BASF SE, Eastman Chemical Company, LUXI GROUP, Perstorp, Feicheng Acid Chemicals Co. Ltd., Yara International ASA, Chongqing Chuandong Chemical (Group) Co. Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Celanese Corporation, Kemira Oyj .
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 9.1% between 2024 and 2032.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Formic Acid include
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Formic Acid in 2023.
