Formic Acid Market Growing at 5.63% CAGR to 2019

DALLAS, July 16, 2015 /PRNewswire/ --

ReportsnReports.com adds Global Formic Acid Market 2015-2019 research report that provides data on end-users, production process and geographical segments of the formic acid market while discussing the leading active companies of this industry.

Complete report on formic acid market spread across 80 pages, talking about 6 major companies and supported with 33 data exhibits is now available at http://www.reportsnreports.com/reports/404051-global-formic-acid-market-2015-2019.html .

The market growth in formic acid consumption is driven by increased scope of its application in various end uses. These alternate uses of formic acid are currently limited to developed countries within Europe and North America, while in the ROW it is used for generic applications such as latex coagulation and leather tanning. With increasing capacities and R&D expenditures by major vendors, new applications especially in animal health, food additives, and portable energy devices can be witnessed in the worldwide formic acid market.

According to this new formic acid market report, it is increasingly used in the treatment of warts, as it is an inexpensive therapy. Warts are primarily caused by HPV. According to CDC, it is observed that about 6.2 million new cases of HPV infections are reported each year. Warts are caused by almost 50 variants of the HPV, and about 10 of the identified HPV can result in cervical cancers. Formic acid, being biodegradable and organic in nature, has a dehydrating effect during the treatment of warts. Also, it is used in treating rheumatics and arthritis. Treatment of these ailments, especially warts, is painless and does not leave any scars on the infected area. Also, the chemical is increasingly being evaluated for use in both human and animal drug manufacturing, thereby driving its consumption. Further, this formic acid market research states that manufacturers face supply outages, thereby hindering market growth.

Companies that are key players of the global formic acid market and discussed in this research include BASF, Feicheng Acid Chemicals, Gujarat Narmada Valley Fertilizers, Helm Italia, Perstorp and Taminco. Other prominent vendors simply mentioned in the report are Polioli, Rashtriya Chemical, Shahid Rasouli Petrochemical, Shandong Baoyuan Chemical, Shanxi Yuanping and Sigma-Aldrich. Order a copy of this report at http://www.reportsnreports.com/Purchase.aspx?name=404051 .

This report covers the present scenario and the growth prospects of the global formic acid market for the period 2015-2019. The report also provides data on segments of the market including end-users (agriculture, leather, rubber, chemical & pharmaceutical, textile, and other industries), geography (APAC, EMEA, North America, and ROW) and production process (methyl formate technology, acetic acid production, hydrogenation of carbon dioxide, oxidation of biomass, and bio-synthesis). The report, Global Formic Acid Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts. The report includes a comprehensive discussion on the market, and an extensive coverage on various applications, geography, and production processes. The report provides comments on both the existing market landscape and the growth prospects in the coming years. The report further includes a discussion on the key vendors operating in this market and uses Herfindahl Index to map the intensity of competition in various markets across the world.

On the same lines, another research titled Formic Acid Market by Types (Grades of 85%, 94%, 99%, and others) by Application (Agriculture, Leather & Textile, Rubber, Chemical & Pharmaceuticals, & others) & by Geography - Global Trends, Forecasts to 2019 says market value of the formic acid market (2012) was estimated for about $451,339.4 thousand and is estimated to reach $618,808.7 thousand by 2019, growing at a CAGR of 4.9%, from 2014 to 2019. The data mentioned in the report are based on the global demand for the formic acid. The Asia-Pacific region emerged to be the driving factor for this market, contributing for about 47% of the global demand in terms of consumption in 2012. China is the leading country in the consumption of formic acid, due to the availability of cheaper raw materials and low labor cost. The important emerging economies such as Brazil, India, etc. are further lined up for a brighter future in this market.

Investments and Expansion is a key part of the formic acid market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of formic acid to match the new demands coming from various end-user industries. Formic acid of 85% concentration is dominant among all the grades of the acid available, in terms of consumption and revenue, reasoned by it being low in concentration so it is less toxic to human and environment. The formic acid demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies. Spread across 199 pages, this formic acid market report profiles companies like BASF SE, Taminco Corporation, Perstorp AB, Feicheng Acid Chemicals Co. Ltd., Gujarat Narmada Valley Fertilizers Co. Ltd., Alfa Aesar, Chongqing Chuandong Chemical (Group) Co. Ltd., Samsung Fine Chemicals Co. Ltd., Helm Italia S.R.L and Shanxiyuanping Chemicals Co. Ltd. Supported with 93 tables and 26 forms, the formic acid market by types, by application and geography report to 2019 is available at http://www.reportsnreports.com/reports/283179-formic-acid-market-by-types-grades-of-85-94-99-and-others-by-application-agriculture-leather-textile-rubber-chemical-pharmaceuticals-others-by-geography-global-trends-forecasts-to-2019.html .

Explore more reports on the chemicals market at http://www.reportsnreports.com/market-research/chemicals/ . For the formic acid sector, ReportsnReports.com also has:

Global and Chinese Formic Aicd (CAS 64-18-6) Industry, 2015 Market Research Report: The report provides key statistics on the market status of the Formic Aicd manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry. Spread across 150 pages, profiling 8 companies, providing 2020 forecasts and the market analysis supported with 98 tables and figures, this formic acid industry research is available at http://www.reportsnreports.com/reports/351968-global-and-chinese-formic-aicd-cas-64-18-6-industry-2015-market-research-report.html .

 

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