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Formic Acid Market Share

Report ID: GMI2583
Published Date: Oct 2023
Report Format: PDF

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Formic Acid Market Share

Some of the major market players operating in the Formic Acid industry are:

BASF SE,
Eastman Chemical Company,
Perstorp,
Feicheng Acid Chemicals Co., Ltd.,
Chongqing Chuandong Chemical (Group) Co., Ltd.,
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC),
LUXI GROUP

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for formic Acid was valued at around USD 1.01 billion in 2022 and is estimated to reach USD 1.65 billion by the end of 2032.

The leather and textile processing segment held a notable share of around 43.58% in 2022 and is expected to grow at a lucrative pace through 2032 due to the use of formic acid as a tanning agent and pH adjuster.

The U.S. formic acid industry was worth USD 0.10 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, driven by the diverse range of applications that rely on formic acid, including agriculture, animal feed additives, textiles, and chemical manufacturing.

Perstorp, Feicheng Acid Chemicals Co., Ltd., Chongqing Chuandong Chemical (Group) Co., Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), LUXI GROUP among others.