Leading Growth Driver in the Formic Acid Market in 2025: Growing Demand For Animal Feed Fuels Formic Acid Market Expansion Driver's Influence

Which drivers are expected to have the greatest impact on the over the formic acid market's growth?
The formic acid market is poised for growth due to the rise in demand for animal feed. Serving as a source of nourishment for livestock and poultry, animal feed includes food that's either grown or formulated specifically for these animals. It supplements their diet with minerals and energy. Formic acid, often added in animal feed, not only enhances preservation and nutritional content but also contributes to the overall health of the animals. It serves as a preservative and has antibacterial properties, making its use in livestock feed prevalent. For instance, the Malaysian Investment Development Authority, a government agency in Malaysia, reported in July 2023 that the price of a 50kg bag of cattle feed escalated to RM 80 from RM 45 in January 2022, indicating the increasing expenses related to the importation of livestock feed materials. This upward trend in demand for animal feed is fueling the growth of the formic acid market.

Get Your Formic Acid Market Report Here:
https://www.thebusinessresearchcompany.com/report/formic-acid-global-market-report

What is the future CAGR of the formic acid market, and how will it impact industry expansion?
In the past few years, the formic acid market has experienced robust growth. The market, which stood at $1.79 billion in 2024, is projected to increase to $1.89 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.4%. The historical growth has been largely driven by sectors such as textile and leather, agriculture, chemical production, the rubber industry, and laboratory research.

Predictions suggest a significant expansion in the formic acid market size in the coming years, with an anticipated growth to $2.37 billion in 2029 by an impressive compound annual growth rate (CAGR) of 5.9%. The predicted growth in the forecast period is primarily driven by factors like renewable energy storage, biofuel production, biodegradable polymers, hydrogen storage, and use of formate salts for oil recovery. The market progression in the forecast period would be influenced by trends like formic acid utilization in waste management, expansions in biotechnology, the production of carbon-neutral chemicals, the application of formate salts in the oil industry, and the development of formic acid fuel cells.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12173&type=smp

What are the most significant trends transforming the formic acid market today?
The advent of groundbreaking technology is an emerging trend in the formic acid market. Firms in this sector are concentrating on introducing cutting-edge techniques to cater to specific requirements and maintain their market standing. For instance, in January 2022, the University of Science and Technology of China, along with a team of researchers, introduced a unique system that allows the use of sustainable electricity to convert carbon dioxide into pure formic acid. Utilizing a copper-based single-atom alloy catalyst and a specialized electrochemical apparatus with solid-state electrolytes, the system creates premium formic acid liquid fuels using carbon dioxide and water as primary materials. This work could speed up the commercialization of carbon dioxide recycling powered by green electricity, offering vast potential for practical use.

Which key market segments comprise the formic acid market and drive its revenue growth?
The formic acid market covered in this report is segmented -

1) By Purity: Less Than 80% To 89.5%, 89.6% To 90.5%, 91.6% To 99%, More Than 99%
2) By Application: Animal Feed, Silage, Leather Tanning, Textile Dyeing
3) By End-Use Industry: Agriculture, Leather, Textiles And Apparel, Healthcare, Rubber, Chemical, Paper, Other End-Use Industries

Subsegments:
1) By Less Than 80% To 89.5%: Technical Grade Formic Acid, Industrial Grade Formic Acid
2) By 89.6% To 90.5%: Food Grade Formic Acid, Pharmaceutical Grade Formic Acid
3) By 91.6% To 99%: High Purity Formic Acid, Laboratory Grade Formic Acid
4) By More Than 99%: Ultra-Pure Formic Acid, Research Grade Formic Acid

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12173

What regions are at the forefront of formic acid market expansion?
Asia-Pacific was the largest region in the formic acid market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the formic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the formic acid market?
Major companies operating in the formic acid market include BASF SE, Honeywell International Inc., Evonik Industries AG, Eastman Chemical Company, Luxi Chemical Group Co. Ltd., Kemira Oyj, HELM AG, Perstorp Holdings AB, GMM Pfaudler Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Alfa Aesar, Wuhan Rui Sunny Chemical Co. Ltd., Fleurchem Inc., Noah Chemicals, Polioli S.p.A., Shandong Feicheng Acid Chemicals Co.Ltd., Anhui Asahikasei Chemical Co. Ltd., Chongqing Chuandong Chemical (Group) Co. Ltd., Hubei Yihua Group Co. Ltd., Zibo Xinglu Chemical Factory, Shandong Haili Chemical Industry Co. Ltd., Vigon International

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12173&type=smp

What Is Covered In The Formic Acid Global Market Report?

• Market Size Forecast: Examine the formic acid market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the formic acid market for a structured understanding.
• Key Players Overview: Analyze major players in the formic acid market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the formic acid market.
• Segment Contributions: Evaluate how different segments drive overall growth in the formic acid market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the formic acid market.
• Industry Challenges: Identify potential risks and obstacles affecting the formic acid market.
• Competitive Landscape: Review strategic developments in the formic acid market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.