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 trends, future prospects, and their contribution to the total market.

To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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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.

Scope of the Report:
Globally, the global production was 1015 K MT in 2016 and it will reach 1217 K MT in 2022. In addition, the production regions of formic acid are mainly located in China, US, EU and India. China was the leader production regions, which achieved about 48% volume market share in 2016. In 2015, BASF bullied the first plant of formic acid in Geismar, Louisiana. It is the only formic acid production plant in USA.
As for the region consumption, China remained the largest market for formic acid in the world, with 34% market share consumption in 2016. Other major consuming regions include EU and US, which account for 29 % and 4% respectively. At present, the methyl formate hydrolysis technology is mainly adopted for producing formic acid and accounted for 81.59% in 2015.
The downstream demand of formic acid is rigidity. Major applications include silage and animal feed preservation, leather and tanning, textiles, formate salts, pharmaceuticals/food chemicals, rubber chemicals (antiozonants and coagulants), catalysts and plasticizers.In 2016, the largest use, accounting for about 42% of global demand, is in Leather & Textile. Other major uses are 27% in agriculture.
The worldwide market for Formic Acid is expected to grow at a CAGR of roughly 1.2% over the next five years, will reach 828.1 million US$ in 2024, from 778.4 million US$ in 2019, according to a new GIR (Global Info Research) study.
This report focuses on the Formic Acid in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Market Segment by Manufacturers, this report covers
    BASF
    LUXI
    Eastan
    Rashtriya Chemicals and Fertilizers
    Tianyuan Group
    Gujarat Narmada Valley Fertilizers & Chemicals
    Feicheng Acid
    Perstorp
    Wuhan Ruisunny Chemical
    Shandong Rongyue Chemical
    Chongqing Chuandong Chemical
    Huaqiang Chemical
    Shanxi Yuanping Chemicals
    Shandong Baoyuan Chemical

Market Segment by Regions, regional analysis covers
    North America (United States, Canada and Mexico)
    Europe (Germany, France, UK, Russia and Italy)
    Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
    South America (Brazil, Argentina, Colombia etc.)
    Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
    0.85
    0.98
    Others

Market Segment by Applications, can be divided into
    Agriculture
    Leather and Textile
    Rubber
    Chemical and Pharmaceuticals
    Other

For More Information On This Report, Please Visit @
https://www.globalinforesearch.com/global-formic-acid-market_p140781.html

Related Information:
North America Formic Acid Market Growth 2019-2024
United States Formic Acid Market Growth 2019-2024
Asia-Pacific Formic Acid Market Growth 2019-2024
Europe Formic Acid Market Growth 2019-2024
EMEA Formic Acid Market Growth 2019-2024
Global Formic Acid Market Growth 2019-2024
China Formic Acid Market Growth 2019-2024

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