Press release
How big is the Formic Acid Market today and how fast it is growing? By Big Key Players BASF, Eastman Chemical, Perstorp AB, Feicheng Acid Chemicals, Rashtriya Chemicals & Fertilizers, Taminco and Chongqing Chuandong Chemical, Gujarat Narmada Valley Fertil
Formic Acid Market
Global Formic Acid Market Growth, New Opportunity and Forecast By Top Companies 2018 to 2024: BASF, Eastman Chemical, Perstorp Group, Taminco
Request for a Table of Content of this research report @ https://www.gminsights.com/request-toc/upcoming/2583
Asia Pacific, led by Japan, South Korea, Australia, Malaysia and China formic acid market size, may witness fast development due to rapid growth in the textile, leather and rubber industries. China is the largest producer and exporter due to availability of cheap labor and lax regulations in the country. Meat consumption in China may increase to almost 60 kilos per person in the forecasted time frame, which is likely to increase the demand for animal feed and have a positive impact on market demand in the region.
Europe driven by Italy, France, Spain and Germany formic acid market size has witnessed a spurt in product demand due to the abolition of antibiotics as growth promoters for livestock by the European Union in 2006. The regional market has matured, especially for silage preservation applications. Europe poultry feed market is likely to exceed about USD 2.5 billion in the forecast period at a rate exceeding around 5%, which may boost formic acid industry size.
Formic Acid Market size should show a significant increase due to rising application usage in agriculture, leather, and feed additive industries. It is also known as carboxylic or methanoic acid, can be produced synthetically and is found naturally in ant venom. It is a colorless liquid with a pungent odor and is known for its anti-microbial property which is the basis for most applications.
Request for a Customization of this research report @ https://www.gminsights.com/roc/2583
Increasing use of the product in preservatives, its eco-friendliness and high quality is likely to boost formic acid market size. Increasing standard of living has led to a rise in meat consumption, which in turn has stimulated the animal feed industry. Global processed meat market may exceed about USD 1.5 million by 2024 and is likely to boost formic acid industry size.
The product is used in concentrations of 85%, 90%, 94%, and 99%, with 85% formic acid being the most popular owing to its low concentration which is less harmful to humans or the environment. Also, manufacturers are using customized concentrations depending on specific applications, may boost industry growth.
Increasing its application usage in leather & textiles, rubber, agriculture, and chemicals & pharmaceuticals sectors should drive industry growth. Formic acid market size should increase due to its common use as an agricultural pesticide, further boosted by increasing harvest due to rising animal feed demand.
Formic acid industry demand may rise due to its use in rubber manufacture for its strong coagulating property and leather manufacture for its pH-regulating and absorbing capacity. Global synthetic leather market worth may exceed over USD 80 billion by 2024, which can further accelerate product demand.
Browse Full Report @ https://www.gminsights.com/industry-analysis/formic-acid-market
Increasing animal feed additives demand should drive formic acid market size Global animal feed additives market demand over USD 17 billion in 2017. Global annual feed production is likely to reach around 1 billion tons which should boost market demand.
Formic acid market share is competitive and moderately fragmented. The participants in this market include companies like BASF, Eastman Chemical, Gujarat Narmada Valley Fertilizers & Chemicals, Perstorp AB, Feicheng Acid Chemicals, Rashtriya Chemicals & Fertilizers, Taminco and Chongqing Chuandong Chemical. EPA has approved product use as a MITE TM and Mite-away II pesticide ingredient, which presents growth opportunities for formic acid industry size.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release How big is the Formic Acid Market today and how fast it is growing? By Big Key Players BASF, Eastman Chemical, Perstorp AB, Feicheng Acid Chemicals, Rashtriya Chemicals & Fertilizers, Taminco and Chongqing Chuandong Chemical, Gujarat Narmada Valley Fertil here
News-ID: 1714882 • Views: …
More Releases from Global Market Insights Inc.
Latest Research Report On Agricultural Adjuvants Market 2021. Major Players Incl …
The agricultural adjuvants market is expected to observe noteworthy growth on account of increasing demand for high-quality crops. Adjuvants commonly act as an additive in pesticides that increase its effectiveness and smoothen its mixing application.
The demand for plant protection products in countries like Bangladesh, India, and Vietnam has surged considerably in recent years. Ever-increasing population across developing economies has forced farmers to produce large quantities of high-quality yields. Citing…
U.S. Minoxidil Market 2021 Growth Opportunities and Competitive Landscape 2027 - …
The U.S. minoxidil industry has been impacted by the COVID-19 pandemic in the form of increased stress amid job losses and health issues, creating rising incidences of hair fall and associated problems. The industry is expected to gain commendable proceeds on account of an upsurge in research studies concerned with the effectiveness of minoxidil.
Citing one such instance, in January 2021, a study published in the Dermatologic Therapy supported the efficacy…
Global Sulfosuccinate Market 2021 Future Growth With Technology and Current Tren …
Owing to these factors, estimates have revealed that the global sulfosuccinate market size will exceed USD 475.7 million in annual estimation by 2024.
Increasing adoption of high-performance materials that meet application-specific requirements across various industries, including pharmaceuticals will stimulate the need for sulfosuccinate compounds. The surging disposable incomes of consumers mainly across the developing nations have also fueled their spending capacities on household and personal care.
Sulfosuccinates are mainly a mild type…
By 2026, Graphene Market will register over 35% CAGR | Applied Nanotech, Inc, an …
The global Graphene Market is slated to gain significant momentum over the forthcoming years, as a result of the growing product consumption in the electronics sector, particularly in developing countries. This high consumption can be attributed to its superior qualities such as high electrical conductivity, durability, and toughness.
Request a sample of this research report @
https://www.gminsights.com/request-sample/detail/233
Top Key Players in The Market are:
Graphenea S.A., Applied Graphene Materials plc, ACS…
More Releases for Formic
Formic Acid Production Cost Report by Procurement Resource
Procurement Resource, a global authority in procurement intelligence and cost modeling, is pleased to release its latest Formic Acid Production Cost Report. This in-depth analysis offers a complete roadmap for investors, producers, and stakeholders evaluating the feasibility, operational dynamics, and profitability of formic acid manufacturing. With rising global interest in bio-based chemicals and environmentally friendly industrial solutions, this report comes at a critical time to guide strategic decisions in the…
Global Formic Acid Market Research Report 2023
Formic Acid Market 2029
Formic acid (also called methanoic acid) is a colorless liquid with a sharp odor. It is also the simplest carboxylic acid. The chemical formula is HCOOH or HCO2H. Formic acid is an environmentally acceptable and highly efficient organic acid. It is used in many areas, from leather processing to feed preservation.
The global Formic Acid market was valued at US$ 244 million in 2022 and is anticipated to…
Global Formic Acid Market Size, Share & Forecast 2023
The global Formic Acid market was valued at US$ 244 million in 2022 and is anticipated to reach US$ 333.3 million by 2029, witnessing a CAGR of 4.5% during the forecast period 2023-2029.
Major factors driving the growth of the formic Acid market are:
Increasing use in the manufacturing of pesticide, leather, dyes, medicines, and rubber sectors is contributing to the formic acid market growth.
The environmental acceptability of formic acid is…
Global Formic Acid Market Research Report 2023
The global Formic Acid market was valued at US$ 244 million in 2022 and is anticipated to reach US$ 333.3 million by 2029, witnessing a CAGR of 4.5% during the forecast period 2023-2029.
Major factors driving the growth of the formic Acid market are:
Increasing use in the manufacturing of pesticide, leather, dyes, medicines, and rubber sectors is contributing to the formic acid market growth.
The environmental acceptability of formic acid is expected…
Formic Acid Market Size, Share, Development by 2024
Global Info Research offers a latest published report on Formic Acid Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Formic Acid players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Formic Acid with respect to individual growth…
Formic Acid Global Market Research Report 2018
GET SAMPLE REPORT @ https://www.research2reports.com/sample-report-chemical/formic-acid-market-2/79623
Formic Acid Report by Material, Application, and Geography � Global Forecast to 2022 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China).
The report firstly introduced the Formic Acid basics: definitions, classifications, applications and market overview; product specifications;…
