デフォルト表紙
市場調査レポート
商品コード
1422985

ギ酸市場レポート:タイプ、用途、最終用途、地域別、2024年~2032年

Formic Acid Market Report by Type, Application, End Use, and Region 2024-2032

出版日: | 発行: IMARC | ページ情報: 英文 144 Pages | 納期: 2~3営業日

● お客様のご希望に応じて、既存データの加工や未掲載情報(例:国別セグメント)の追加などの対応が可能です。  詳細はお問い合わせください。

価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=155.76円
ギ酸市場レポート:タイプ、用途、最終用途、地域別、2024年~2032年
出版日: 2024年01月30日
発行: IMARC
ページ情報: 英文 144 Pages
納期: 2~3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界のギ酸市場規模は2023年に916.9キロトンに達しました。今後、IMARC Groupは、2032年には1,202.6キロトンに達し、2024年から2032年にかけて2.97%の成長率(CAGR)を示すと予測しています。製薬・バイオテクノロジー産業の拡大、環境規制の強化、市場の世界化と国際貿易の増加、ギ酸生産技術の継続的進歩、研究開発の継続などが市場を牽引する主な要因です。

ギ酸は単純で無色、刺激性の有機酸であり、化学、生物学、工業の様々な局面で重要な役割を果たしています。最小のカルボン酸です。ギ酸はある種のアリの分泌物中に天然に存在し、幅広い用途があります。産業界では、主に家畜飼料の防腐剤や抗菌剤として、また皮革、繊維、医薬品など様々な化学物質の製造に使用されています。また、ゴム製造の凝固剤としても利用され、一部の化学プロセスでは強力な還元剤として機能します。

医薬品とバイオテクノロジー産業の拡大が世界市場を牽引しています。さらに、危険で環境に有害な化学物質の使用削減を目的とした環境規制の高まりは、様々な用途において、より安全で環境に優しい代替品としてギ酸の採用を後押ししています。再生可能な原料の使用やエネルギー効率の高いプロセスなど、ギ酸生産技術の進歩はコスト削減と入手性の向上につながり、市場の成長をさらに後押しします。さらに、現在進行中の研究開発努力により、エネルギー貯蔵、触媒、グリーン還元剤などの分野におけるギ酸の新たな革新的用途が発見されつつあります。こうした新たな用途は、将来のギ酸需要を牽引する可能性を秘めています。鉱石浸出や金属抽出を含む鉱業プロセスにおけるギ酸の幅広い利用。鉱業が特に新興市場で拡大し続けるにつれて、浸出剤としてのギ酸の需要が増加する可能性があります。また、市場の世界化と国際貿易の拡大は、ギ酸メーカーが新たな市場にアクセスし、顧客基盤を拡大する機会を生み出す可能性があります。

ギ酸市場の動向と促進要因:

食品業界における防腐剤と抗菌剤の需要増加

天然の抗菌特性を持つギ酸は、加工肉、ベーカリー製品、飲食品など様々な食品の保存料や抗菌剤として幅広く使用されています。消費者は健康志向を強め、腐敗や有害な病原体のない、保存期間の長い製品を求めるようになっています。その結果、食品メーカーは製品の鮮度と安全性を長持ちさせる効果的なソリューションとしてギ酸に注目しています。さらに、ギ酸は安息香酸ナトリウムやソルビン酸カリウムなどの合成保存料よりも安全で、特定の動植物に天然に存在するものと考えられています。このような天然で持続可能な防腐剤へのシフトが、今後数年間のギ酸市場の成長を促進すると予想されます。世界人口の増加が続く中、動物性タンパク質の生産に対するニーズが高まっています。

拡大する皮革・繊維産業

ギ酸は皮革のなめし、織物の染色、仕上げ工程で利用されます。皮革なめしでは、動物の皮を保存し、毛や表皮を取り除き、皮革製品の製造に適した状態にする上で重要な役割を果たしています。繊維分野では、ギ酸は染色や捺染作業に使用され、染料を生地に定着させ、堅牢度を高めるのに役立っています。ファッション産業の成長と、皮革や繊維製品に対する消費者の嗜好の高まりが、ギ酸の需要増につながっています。インドや中国などの新興国では、皮革産業や繊維産業が増加しており、ギ酸市場の拡大に大きく貢献しています。さらに、これらの地域では厳しい環境規制があり、環境に優しく持続可能ななめし・染色工程の採用が促されています。

化学産業における用途の拡大

ギ酸は汎用性の高い化学物質であり、様々な化学物質や材料の生産において重要な構成要素として機能します。染料、医薬品、皮革、繊維製品の製造に使用されます。さらに、ギ酸はいくつかの化学反応において還元剤や触媒としての役割を果たすため、有機合成における利用が増加しています。化学業界では、費用対効果が高く持続可能な原料が常に求められているため、ギ酸は魅力的な選択肢となっています。容易に生分解されるなど環境に優しい特性を持つギ酸は、環境フットプリントの削減を目指す産業にとって魅力的です。その結果、ギ酸市場は、化学プロセスにおける役割の拡大と、より持続可能な製造慣行へのシフトを原動力とする成長を目の当たりにしています。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査目的
  • 利害関係者
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主要産業動向

第5章 ギ酸の世界市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳:タイプ別

  • グレード85%
    • 市場動向
    • 市場予測
  • グレード94%
    • 市場動向
    • 市場予測
  • グレード99%
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第7章 市場内訳:用途別

  • 飼料・サイレージ添加物
    • 市場動向
    • 市場予測
  • 皮革なめし
    • 市場動向
    • 市場予測
  • 織物の染色と仕上げ
    • 市場動向
    • 市場予測
  • 医薬品中間体
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第8章 市場内訳:最終用途別

  • 農業
    • 市場動向
    • 市場予測
  • 皮革・繊維
    • 市場動向
    • 市場予測
  • ゴム
    • 市場動向
    • 市場予測
  • 化学・医薬
    • 市場動向
    • 市場予測
  • 染色
    • 市場動向
    • 市場予測
  • 動物飼料
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第9章 市場内訳:地域別

  • 北米
    • 米国
      • 市場動向
      • 市場予測
    • カナダ
      • 市場動向
      • 市場予測
  • アジア太平洋
    • 中国
      • 市場動向
      • 市場予測
    • 日本
      • 市場動向
      • 市場予測
    • インド
      • 市場動向
      • 市場予測
    • 韓国
      • 市場動向
      • 市場予測
    • オーストラリア
      • 市場動向
      • 市場予測
    • インドネシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 欧州
    • ドイツ
      • 市場動向
      • 市場予測
    • フランス
      • 市場動向
      • 市場予測
    • 英国
      • 市場動向
      • 市場予測
    • イタリア
      • 市場動向
      • 市場予測
    • スペイン
      • 市場動向
      • 市場予測
    • ロシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • ラテンアメリカ
    • ブラジル
      • 市場動向
      • 市場予測
    • メキシコ
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 中東・アフリカ地域
    • 市場動向
    • 市場内訳:国別
    • 市場予測

第10章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第11章 バリューチェーン分析

第12章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第13章 価格分析

第14章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • BASF SE
    • Chongqing Chuandong Chemical Group Co. Ltd.
    • Eastman Chemical Company
    • Gujarat Narmada Valley Fertilizers & Chemicals
    • Luxi Group Co. Ltd.
    • Perstorp Holding AB(PETRONAS Chemicals International B.V.)
    • Shandong Acid Chemicals Co. Ltd.
    • Thermo Fisher Scientific
図表

List of Figures

  • Figure 1: Global: Formic Acid Market: Major Drivers and Challenges
  • Figure 2: Global: Formic Acid Market: Volume Trends (in Kilo Tons), 2018-2023
  • Figure 3: Global: Formic Acid Market Forecast: Volume Trends (in Kilo Tons), 2024-2032
  • Figure 4: Global: Formic Acid Market: Sales Value (in Billion US$), 2018-2023
  • Figure 5: Global: Formic Acid Market Forecast: Sales Value (in Billion US$), 2024-2032
  • Figure 6: Global: Formic Acid Market: Breakup by Type (in %), 2023
  • Figure 7: Global: Formic Acid Market: Breakup by Application (in %), 2023
  • Figure 8: Global: Formic Acid Market: Breakup by End Use (in %), 2023
  • Figure 9: Global: Formic Acid Market: Breakup by Region (in %), 2023
  • Figure 10: Global: Formic Acid (Grade 85%) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Formic Acid (Grade 85%) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Formic Acid (Grade 94%) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Formic Acid (Grade 94%) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Formic Acid (Grade 99%) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Formic Acid (Grade 99%) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Formic Acid (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Formic Acid (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Formic Acid (Animal Feed and Silage Additives) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Formic Acid (Animal Feed and Silage Additives) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Formic Acid (Leather Tanning) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Formic Acid (Leather Tanning) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Formic Acid (Textile Dying and Finishing) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Formic Acid (Textile Dying and Finishing) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: Global: Formic Acid (Intermediary in Pharmaceuticals) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: Global: Formic Acid (Intermediary in Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: Global: Formic Acid (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: Global: Formic Acid (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: Global: Formic Acid (Agriculture) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: Global: Formic Acid (Agriculture) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Global: Formic Acid (Leather and Textile) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Global: Formic Acid (Leather and Textile) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: Global: Formic Acid (Rubber) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: Global: Formic Acid (Rubber) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: Global: Formic Acid (Chemical and Pharmaceutical) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: Global: Formic Acid (Chemical and Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: Global: Formic Acid (Dyeing) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: Global: Formic Acid (Dyeing) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: Global: Formic Acid (Animal Feed) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: Global: Formic Acid (Animal Feed) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: Global: Formic Acid (Other End Uses) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 41: Global: Formic Acid (Other End Uses) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 42: North America: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 43: North America: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 44: United States: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 45: United States: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 46: Canada: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 47: Canada: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 48: Asia-Pacific: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 49: Asia-Pacific: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 50: China: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 51: China: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 52: Japan: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 53: Japan: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 54: India: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 55: India: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 56: South Korea: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 57: South Korea: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 58: Australia: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 59: Australia: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 60: Indonesia: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 61: Indonesia: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 62: Others: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 63: Others: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 64: Europe: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 65: Europe: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 66: Germany: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 67: Germany: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 68: France: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 69: France: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 70: United Kingdom: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 71: United Kingdom: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 72: Italy: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 73: Italy: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 74: Spain: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 75: Spain: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 76: Russia: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 77: Russia: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 78: Others: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 79: Others: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 80: Latin America: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 81: Latin America: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 82: Brazil: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 83: Brazil: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 84: Mexico: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 85: Mexico: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 86: Others: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 87: Others: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 88: Middle East and Africa: Formic Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 89: Middle East and Africa: Formic Acid Market: Breakup by Country (in %), 2023
  • Figure 90: Middle East and Africa: Formic Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 91: Global: Formic Acid Industry: SWOT Analysis
  • Figure 92: Global: Formic Acid Industry: Value Chain Analysis
  • Figure 93: Global: Formic Acid Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Formic Acid Market: Key Industry Highlights, 2023 and 2032
  • Table 2: Global: Formic Acid Market Forecast: Breakup by Type (in Million US$), 2024-2032
  • Table 3: Global: Formic Acid Market Forecast: Breakup by Application (in Million US$), 2024-2032
  • Table 4: Global: Formic Acid Market Forecast: Breakup by End Use (in Million US$), 2024-2032
  • Table 5: Global: Formic Acid Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 6: Global: Formic Acid Market: Competitive Structure
  • Table 7: Global: Formic Acid Market: Key Players
目次
Product Code: SR112024A6582

Abstract

The global formic acid market size reached 916.9 Kilo Tons in 2023. Looking forward, IMARC Group expects the market to reach 1,202.6 Kilo Tons by 2032, exhibiting a growth rate (CAGR) of 2.97% during 2024-2032. The expanding pharmaceutical and biotechnological industry, the increasing environmental regulations, the globalization of markets and increased international trade, continual advancements in formic acid production technologies, and ongoing research and development efforts are some of the major factors propelling the market.

Formic acid is a simple, colorless, and pungent organic acid that plays a crucial role in various aspects of chemistry, biology, and industry. It is the smallest carboxylic acid. Formic acid is naturally occurring in the secretions of certain ants and has a wide range of applications. In industry, it is primarily used as a preservative and antibacterial agent in livestock feed, as well as in the production of various chemicals, including leather, textiles, and pharmaceuticals. It is also utilized as a coagulant in rubber manufacturing and serves as a powerful reducing agent in some chemical processes.

The expanding pharmaceutical and biotechnological industry are driving the global market. Moreover, the increasing environmental regulations aimed at reducing the use of hazardous and environmentally harmful chemicals can encourage the adoption of formic acid as a safer and more eco-friendly alternative in various applications. Advances in formic acid production technologies, including the use of renewable feedstocks and more energy-efficient processes, can lead to cost reductions and increased availability, further impelling the market growth. Additionally, ongoing research and development efforts are uncovering new and innovative applications for formic acid in areas, such as energy storage, catalysis, and as a green reducing agent. These emerging applications have the potential to drive future demand for formic acid. Wide utilization of formic acid in mining in processes, including ore leaching and metal extraction. As the mining industry continues to expand, especially in emerging markets, the demand for formic acid as a leaching agent may increase. Also, the globalization of markets and increased international trade can create opportunities for formic acid producers to access new markets and expand their customer base.

Formic Acid Market Trends/Drivers:

Increasing Demand for Preservatives and Antibacterial Agents in Food Industry

Formic acid, with its natural antibacterial properties, has found extensive use as a preservative and antibacterial agent in various food products, such as processed meats, bakery items, and beverages. Consumers are becoming more health-conscious and seeking products with extended shelf life, free from spoilage and harmful pathogens. As a result, food manufacturers are turning to formic acid as an effective solution to extend the freshness and safety of their products. Furthermore, formic acid is considered a safer alternative to synthetic preservatives, such as sodium benzoate or potassium sorbate, as it is naturally occurring in certain plants and animals. This shift towards natural and sustainable preservatives is expected to drive the formic acid market's growth in the coming years. As the global population continues to grow, there is a greater need for animal protein production.

Expanding Leather and Textile Industries

Formic acid is utilized in leather tanning, textile dyeing, and finishing processes. In leather tanning, it plays a crucial role in the preservation of animal hides and the removal of hair and epidermis, making them suitable for manufacturing leather products. In the textile sector, formic acid is employed in dyeing and printing operations, helping to fix dyes to fabrics and enhance color fastness. The growth of the fashion industry, coupled with increasing consumer preferences for leather and textile products, has resulted in higher demand for formic acid. Emerging economies, such as India and China, have witnessed a rise in their leather and textile industries, contributing significantly to the formic acid market's expansion. Moreover, stringent environmental regulations in these regions have prompted the adoption of eco-friendly and sustainable tanning and dyeing processes.

Expanding Applications in Chemical Industry

Formic acid is a versatile chemical that serves as a critical building block in the production of various chemicals and materials. It is used in the manufacturing of dyes, pharmaceuticals, leather, and textiles. Furthermore, formic acid's role as a reducing agent and catalyst in several chemical reactions has led to its increased utilization in organic synthesis. The chemical industry's constant need for cost-effective and sustainable raw materials makes formic acid an attractive choice. Its eco-friendly properties, such as being readily biodegradable, make it appealing to industries aiming to reduce their environmental footprint. As a result, the formic acid market is witnessing growth driven by its expanding role in chemical processes and the shift towards more sustainable manufacturing practices.

Formic Acid Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global formic acid market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, application and end use.

Breakup by Type:

Grade 85%

Grade 94%

Grade 99%

Others

Grade 85% dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes grade 85%, grade 94%, grade 99% and others. According to the report, grade 85% represented the largest segment.

In various industries, such as agriculture, formic acid at an 85% concentration is often employed as a preservative in animal feed, effectively inhibiting the growth of harmful microorganisms and prolonging the shelf life of the feed. Additionally, it finds extensive use in the production of leather and textiles, where it serves as a crucial agent in the tanning and dyeing processes, ensuring the quality and durability of the final products. It can be further diluted or used as a starting material for the production of other formic acid derivatives, making it a cost-efficient choice for various applications. Moreover, this grade is compatible with numerous chemical processes across different industries, contributing to its widespread adoption. The 85% grade of formic acid also finds utility in the pharmaceutical and chemical sectors, where it serves as a key ingredient in the synthesis of various organic compounds. Its stability and purity make it an ideal choice for research and manufacturing processes, leading to a consistent demand within these industries.

Breakup by Application:

Animal Feed and Silage Additives

Leather Tanning

Textile Dying and Finishing

Intermediary in Pharmaceuticals

Others

Animal feed and silage additives dominate the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes animal feed and silage additives, leather tanning, textile dying and finishing, intermediary in pharmaceuticals, and others. According to the report, animal feed and silage additives represented the largest segment.

Formic acid's preservation capability not only extends the shelf life of the feed but also ensures that animals are consuming a safe and nutritionally balanced diet. As a result, livestock farmers can mitigate the risk of mycotoxin contamination, improve feed quality, and enhance the overall health and growth rates of their animals. Moreover, formic acid's significance extends to silage production in agriculture. Silage is a valuable feed source, especially for ruminant animals, such as cattle. Formic acid acts as a silage additive by reducing the pH level of ensiled forage, which creates an acidic environment that inhibits spoilage-causing microorganisms. This preservation effect is crucial in ensuring that silage remains nutritious and palatable for livestock consumption, particularly during the winter months when fresh forage is scarce. By maintaining the quality of silage, formic acid enables farmers to provide their animals with consistent and high-quality nutrition year-round, thus contributing to the well-being and productivity of their herds.

Breakup by End Use:

Agriculture

Leather and Textile

Rubber

Chemical and Pharmaceutical

Dyeing

Animal Feed

Others

Agriculture dominates the market

The report has provided a detailed breakup and analysis of the market based on the end use. This includes agriculture, leather and textile, rubber, chemical and pharmaceutical, dyeing, animal feed and others. According to the report, agriculture represented the largest segment.

Formic acid plays a critical role in the preservation of silage, which is a valuable source of feed for ruminant livestock, such as cattle. Silage preservation with formic acid helps maintain forage quality and nutritional value, ensuring that livestock have access to nutritious feed even during seasons when fresh forage is limited. This aspect is particularly significant in regions with seasonal variations or where access to pasture is restricted, as it aids in maintaining consistent animal nutrition and, consequently, optimal livestock health and productivity. Furthermore, formic acid is employed in crop protection. It is used as a pesticide and herbicide to control pests and weeds in agriculture. Its effectiveness as a natural, biodegradable substance makes it a preferable choice for environmentally conscious farmers who seek alternatives to more harmful chemical pesticides. This aligns with the growing trend towards sustainable and eco-friendly agricultural practices.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Asia Pacific exhibits a clear dominance, accounting for the largest formic acid market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The agricultural sector in Asia Pacific is substantial and diverse, making it a significant driver of formic acid demand. As many countries in the region have large populations and robust agricultural industries, there is a consistent need for high-quality animal feed and efficient silage preservation methods. Formic acid's role as a preservative, acidifier, and pesticide aligns perfectly with the agricultural practices of this region, thereby fueling its widespread usage. Furthermore, Asia Pacific is home to some of the world's largest and fastest-growing economies, including China and India. These countries, in particular, have witnessed rapid industrialization and urbanization, leading to increased demand for formic acid in various applications, such as the leather and textile industries, chemical manufacturing, and automotive sectors. Moreover, the presence of a well-established chemical industry infrastructure in several countries has enabled efficient formic acid production and export.

Competitive Landscape:

Numerous companies in the formic acid market invest significantly in research and development to improve production processes, enhance product quality, and discover new applications for formic acid. R&D efforts focus on developing more efficient and environmentally friendly production methods, as well as finding innovative ways to utilize formic acid in different industries. Formic acid manufacturers constantly work to optimize their production processes to increase efficiency, reduce costs, and minimize environmental impact. This includes upgrading facilities, adopting advanced technologies, and improving supply chain management. Companies often seek to expand their market reach by targeting new geographic regions or industries. This may involve establishing partnerships, distribution agreements, or opening new production facilities in areas with growing demand for formic acid. Companies also invest in market research to understand emerging trends, consumer preferences, and competitive landscapes. This information helps them make informed decisions about product development, marketing strategies, and pricing.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

BASF SE

Chongqing Chuandong Chemical Group Co. Ltd.

Eastman Chemical Company

Gujarat Narmada Valley Fertilizers & Chemicals

Luxi Group Co. Ltd.

Perstorp Holding AB (PETRONAS Chemicals International B.V.)

Shandong Acid Chemicals Co. Ltd.

Thermo Fisher Scientific.

Recent Developments:

In May 2023, Thermo Fisher Scientific announces partnership with BRIN to Strengthen Research Infrastructure and Capabilities in Indonesia. The collaboration will involve direct engagements between the two organizations and strengthen their partnership. Thermo Fisher will leverage its expertise and extensive portfolio to support BRIN in improving research competencies and capacities.

In October 2022, PETRONAS Chemicals Group Berhad (PCG) today announced the completion of its acquisition of Perstorp Holding AB (Perstorp). This acquisition is part of PCG's strategy to expand its presence in the specialty chemicals industry. PCG plans to preserve and grow the value of Perstorp and leverage its expertise and workforce to strengthen its position in the Asia Pacific markets. PCG also aims to support Perstorp's growth projects, including the launch of Project Air, which aims to reduce carbon emissions through the production of sustainable methanol.

In June 2021, Incipio group announces strategic sustainability partnership with Eastman chemical company. This partnership will enable Incipio Group to integrate recycled materials into its portfolio of brands and this also aims to find sustainable alternatives while maintaining durability, clarity, and performance.

Key Questions Answered in This Report

  • 1. What was the size of the global formic acid market in 2023?
  • 2. What is the expected growth rate of the global formic acid market during 2024-2032?
  • 3. What are the key factors driving the global formic acid market?
  • 4. What has been the impact of COVID-19 on the global formic acid market?
  • 5. What is the breakup of the global formic acid market based on type?
  • 6. What is the breakup of the global formic acid market based on the application?
  • 7. What is the breakup of the global formic acid market based on the end use?
  • 8. What are the key regions in the global formic acid market?
  • 9. Who are the key players/companies in the global formic acid market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Formic Acid Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 Grade 85%
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Grade 94%
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Grade 99%
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Others
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Application

  • 7.1 Animal Feed and Silage Additives
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Leather Tanning
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Textile Dying and Finishing
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Intermediary in Pharmaceuticals
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Others
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast

8 Market Breakup by End Use

  • 8.1 Agriculture
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Leather and Textile
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Rubber
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Chemical and Pharmaceutical
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Dyeing
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Animal Feed
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast
  • 8.7 Others
    • 8.7.1 Market Trends
    • 8.7.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 BASF SE
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
      • 14.3.1.3 Financials
      • 14.3.1.4 SWOT Analysis
    • 14.3.2 Chongqing Chuandong Chemical Group Co. Ltd.
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
    • 14.3.3 Eastman Chemical Company
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Gujarat Narmada Valley Fertilizers & Chemicals
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
    • 14.3.5 Luxi Group Co. Ltd.
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Perstorp Holding AB (PETRONAS Chemicals International B.V.)
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 SWOT Analysis
    • 14.3.7 Shandong Acid Chemicals Co. Ltd.
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
    • 14.3.8 Thermo Fisher Scientific
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis

Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report