Press release
Globally Market Growth Opportunities : Formic Acid Market Expected To Reach at a CAGR of 4.26% by Revenue During the Period 2017-2021
Market Research Report
About Formic Acid
Formic acid is used abundantly since it is an eco-friendly alternative to textile, leather, rubber, and other industries. The excellent properties of a formic acid, when it comes to controlling acidity while effectively controlling microbial growth, makes it ideal for use in a broad spectrum of applications. Furthermore, formic acid, unlike other acids (organic), holds the advantage of performing as both carboxylic acid and aldehyde. Therefore, formic acid functions as a reducing and as an acidifying agent, which offers the market immense potential and scope to be used across a wide range of industries.
Technavios analysts forecast the global formic acid market to grow at a CAGR of 4.26% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global formic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
APAC
EMEA
North America
ROW
Technavio's report, Global Formic Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
BASF
Feicheng Acid Chemicals
GNFC
Perstorp
Eastman Chemical Company
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Other prominent vendors
Alfa Aesar, Thermo Fisher Scientific
Jinan Petrochemical Group
Merck
Polioli
Rashtriya Chemicals and Fertilizers
Market driver
Rising demand for formic acid as a preservative
For a full, detailed list, view our report
Market challenge
Presence of cost-effective substitutes
For a full, detailed list, view our report
Market trend
Direct syntheses of formic acid in acidic media
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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