The "Formic Acid Market by End User (agriculture and animal feed, leather, textile, chemicals and pharmaceuticals, and others) and Geography (APAC, North America, Europe, South America, and MEA) - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. The potential growth difference for the formic acid market between 2020 and 2025 is USD 208.72 mn. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a Sample Report.
Key Market Dynamics:
- Market Driver: Rising demand for formic acid as a preservative
- Market Challenge: Rising demand for natural rubber
To learn about additional key drivers, trends, and challenges of the formic acid rate
available with Technavio. Read our Sample Report right now!
Market Segmentation
The formic acid market report is segmented by end-user (agriculture and animal feed, leather, textile, chemicals and pharmaceuticals, and others) and geography (APAC, North America, Europe, South America, and MEA). APAC will be the leading region with 57% of the market's growth during the forecast period. China and India are the key countries for the formic acid market in APAC.
By end-user, the agriculture and animal feed segment will contribute the largest market share growth during the forecast period. The animal feed industry constitutes the highest percentage of consumption of formic acid, which is widely used as a preservative, disinfectant, and miticide. Moreover, the strong acidification effect of formic acid helps in protecting animal feed against bacterial contamination. It also assimilates protein, retains minerals, and provides energy.
Learn about the contribution of each segment of the formic acid market summarized
in concise infographics and thorough descriptions. View our Sample Report
Key Vendor Analysis
BASF SE, Eastman Chemical Co., GNFC Ltd., Haviland Enterprises Inc., Kemira Oyj, LUXI Group Co. Ltd., NuGenTec, Perstorp Holding AB, Rashtriya Chemicals and Fertilizers Ltd., and Thermo Fisher Scientific Inc., among others, are some of the key vendors operating in the formic acid market. The formic acid market is concentrated, and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
Key offerings
- BASF SE - The company offers formic acid to oil and gas, deicing, industrial cleaners and descalers, animal nutrition, leather and textiles, and other markets.
- Eastman Chemical Co. - The company offers formic acid 85 percent used in industries such as textiles, natural rubber, and leather processing.
- GNFC Ltd. - The company produces high-quality formic acid through Methyl Formate Route.
- Kemira Oyj - The company offers Formic Acid to industries such as food, metals, and mining among others.
- Perstorp Holding AB - The company offers Formic Acid 85 percent for the leather tanning process, in feed for preservation and acidification, as an intermediate in various pharmaceuticals and fine chemicals, and as an active ingredient in cleaning agents.
This report provides a full list of key vendors, their strategies, and the latest
developments of the formic acid market. View a Sample Report
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Formic Acid Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.49% |
Market growth 2021-2025 |
USD 208.72 million |
Market structure |
Concentrated |
YoY growth (%) |
3.84 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 57% |
Key consumer countries |
China, US, India, Germany, and Spain |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
BASF SE, Eastman Chemical Co., GNFC Ltd., Haviland Enterprises Inc., Kemira Oyj, LUXI Group Co. Ltd., NuGenTec, Perstorp Holding AB, Rashtriya Chemicals and Fertilizers Ltd., and Thermo Fisher Scientific Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis for specialty chemicals
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End user - Market share 2020-2025 (%)
- 5.2 Comparison by End user
- Exhibit 16: Comparison by End user
- 5.3 Agriculture and animal feed - Market size and forecast 2020-2025
- Exhibit 17: Agriculture and animal feed - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Agriculture and animal feed - Year-over-year growth 2020-2025 (%)
- 5.4 Leather - Market size and forecast 2020-2025
- Exhibit 19: Leather - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Leather - Year-over-year growth 2020-2025 (%)
- 5.5 Textile - Market size and forecast 2020-2025
- Exhibit 21: Textile - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Textile - Year-over-year growth 2020-2025 (%)
- 5.6 Chemicals and pharmaceuticals - Market size and forecast 2020-2025
- Exhibit 23: Chemicals and pharmaceuticals - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Chemicals and pharmaceuticals - Year-over-year growth 2020-2025 (%)
- 5.7 Others - Market size and forecast 2020-2025
- Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
- 5.8 Market opportunity by End user
- Exhibit 27: Market opportunity by End user
6 Customer landscape
- 6.1 Customer landscape
- Exhibit 28: Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 29: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 30: Geographic comparison
- 7.3 APAC - Market size and forecast 2020-2025
- Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
- 7.4 North America - Market size and forecast 2020-2025
- Exhibit 33: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: North America - Year-over-year growth 2020-2025 (%)
- 7.5 Europe - Market size and forecast 2020-2025
- Exhibit 35: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 36: Europe - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 37: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 39: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 40: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 41: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 42: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.2 Market challenges
- Exhibit 43: Impact of drivers and challenges
9 Vendor Landscape
- 9.1 Overview
- Exhibit 44: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 45: Landscape disruption
- Exhibit 46: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 47: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 48: Market positioning of vendors
- 10.4 Eastman Chemical Co.
- Exhibit 53: Eastman Chemical Co. - Overview
- Exhibit 54: Eastman Chemical Co. - Business segments
- Exhibit 55: Eastman Chemical Co. – Key news
- Exhibit 56: Eastman Chemical Co. - Key offerings
- Exhibit 57: Eastman Chemical Co. - Segment focus
- 10.5 GNFC Ltd.
- Exhibit 58: GNFC Ltd. - Overview
- Exhibit 59: GNFC Ltd. - Business segments
- Exhibit 60: GNFC Ltd. - Key offerings
- Exhibit 61: GNFC Ltd. - Segment focus
- 10.6 Haviland Enterprises Inc.
- Exhibit 62: Haviland Enterprises Inc. - Overview
- Exhibit 63: Haviland Enterprises Inc. - Product and service
- Exhibit 64: Haviland Enterprises Inc. - Key offerings
- 10.7 Kemira Oyj
- Exhibit 65: Kemira Oyj - Overview
- Exhibit 66: Kemira Oyj - Business segments
- Exhibit 67: Kemira Oyj - Key offerings
- Exhibit 68: Kemira Oyj - Segment focus
- 10.8 LUXI Group Co. Ltd.
- Exhibit 69: LUXI Group Co. Ltd. - Overview
- Exhibit 70: LUXI Group Co. Ltd. - Product and service
- Exhibit 71: LUXI Group Co. Ltd. - Key offerings
- 10.9 NuGenTec
- Exhibit 72: NuGenTec - Overview
- Exhibit 73: NuGenTec - Product and service
- Exhibit 74: NuGenTec - Key offerings
- 10.10 Perstorp Holding AB
- Exhibit 75: Perstorp Holding AB - Overview
- Exhibit 76: Perstorp Holding AB - Business segments
- Exhibit 77: Perstorp Holding AB – Key news
- Exhibit 78: Perstorp Holding AB - Key offerings
- Exhibit 79: Perstorp Holding AB - Segment focus
- 10.11 Rashtriya Chemicals and Fertilizers Ltd.
- Exhibit 80: Rashtriya Chemicals and Fertilizers Ltd. - Overview
- Exhibit 81: Rashtriya Chemicals and Fertilizers Ltd. - Business segments
- Exhibit 82: Rashtriya Chemicals and Fertilizers Ltd. - Key offerings
- Exhibit 83: Rashtriya Chemicals and Fertilizers Ltd. - Segment focus
- 10.12 Thermo Fisher Scientific Inc.
- Exhibit 84: Thermo Fisher Scientific Inc. - Overview
- Exhibit 85: Thermo Fisher Scientific Inc. - Business segments
- Exhibit 86: Thermo Fisher Scientific Inc. – Key news
- Exhibit 87: Thermo Fisher Scientific Inc. - Key offerings
- Exhibit 88: Thermo Fisher Scientific Inc. - Segment focus
11 Appendix
- 11.2 Currency conversion rates for US$
- Exhibit 89: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 90: Research Methodology
- Exhibit 91: Validation techniques employed for market sizing
- Exhibit 92: Information sources
- 11.4 List of abbreviations
- Exhibit 93: List of abbreviations
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