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Analysis of Formic Acid Market 2019-2024: Industry Trends, Share, Size, Price, Revenue, Business Strategy, Production Technology Forecast to 2024


The “Formic Acid Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Formic Acid Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Formic Acid market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Formic Acid Market Are:

  • Anhui Asahi Kasei Chemical
  • Beijing Chemical Industry Group
  • Feicheng Acid Chemical
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • Luxi Chemical Group Co. Ltd
  • Perstorp
  • Polioli SpA
  • Rashtriya Chemicals and Fertilizers Limited
  • Shandong Baoyuan Chemical Co. Ltd
  • Shanxi Province Yuanping Chemicals Co. Ltd
  • Wuhan Rui Fuyang Chemical Co. Ltd
  • Eastman Chemical Company

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    Market Overview:

  • The formic acid market is expected to witness a healthy growth, at an estimated CAGR of 3.74%, during the forecast period (2019-2024). One of the major factors driving the growth of formic acid is the increasing demand for preservatives and feed additives. Increasing consumption of meat and poultry has also hugely attributed to the growth of the market.
  • – The Asia-Pacific region leads the market globally, with China being the largest producer and consumer of formic acid. The country is also the largest exporter of formic acid across the world.
  • – Regulations regarding the usage of formic acid are expected to hinder the market growth.<

    Scope of the Report:

  • This report studies the global Formic Acid market size, industry status and forecast, competition landscape and growth opportunity.

    Formic Acid Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Formic Acid market?
    • What are the key market trends impacting the growth of the global Formic Acid market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Formic Acid market?
    • What are the market opportunities and threats faced by the vendors in the global Formic Acid market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Formic Acid market?

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    Key Market Trends:

    Animal Feed a Huge Market Potential

    – Formic acid, as a commercial animal feed additive, is added to animal diet for feed acidification.
    – It is used as animal feed additive for fisheries, cattle, poultry, etc. Growth of cattle and poultry is higher in countries, such as the United States, China, India, etc., and these are the countries where the demand for formic acid has increased at a moderately high rate.
    – Formic acid is also used as an antibacterial agent and preservative in livestock feed.
    – Formic acid is sprayed on fresh hay, in order to delay or halt decay, thereby, allowing the feed a longer survival period. This process is of particular importance in the preservation of winter cattle feed.
    – In poultry farming, formic acid is applied to feed, in order to kill salmonella bacteria. These practices are widespread in Europe, but are not as common in the United States, due to the generally low commercial availability of formic acid.
    – In addition, the use of formic acid on hay feed may reduce the total milk fat when given to milch cows.
    – These applications of formic acid are on the rise, due to the increase in demand for animal feed. This trend is expected to contribute to the demand for formic acid, over the forecast period.

    Asia-Pacific Region to Dominate the Market

    In 2017, the Asia-Pacific region dominated the global market share. The region is expected to dominate the market during the forecast period, owing to the demand for meat and poultry, coupled with the demand from the textile industry in countries, such as China and India. China is among the largest meat producers in the world. The top three categories include pork, chicken, and beef. Pork production in the country increased by 0.8% in 2017, to 53.4 million metric ton. Beef production also increased by 1.3% in 2017, to 7.26 million metric ton. Poultry output increased by 0.5%, to 18.97 million metric ton, while lamb production went up 1.8%, to 4.68 million metric ton. Currently, China has about 560 large and medium-sized tanneries. The leather tanning industry in the country shows signs of decline. The exports decreased by 8.2% in the first half of 2017. This downturn is likely to be due to the renewal process of laboriously adapting to the new environmental standards. The country’s textile market share in the global textile and clothing industry fell from 38.6%, in 2015, to 35.8%, in 2016. The downward trend is seen in major apparel importing regions, such as the United States, European Union, and Japan. All the aforementioned factors, in turn, expected to increase the demand for formic acid in the region during the forecast period.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Formic Acid Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Formic Acid .

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    Report Objectives:

    • Analyzing the size of the Formic Acid market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Formic Acid market.
    • Determining the key dynamics of the Formic Acid market.
    • Highlighting significant trends of the Formic Acid market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Formic Acid market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Formic Acid market.

    Detailed TOC of Formic Acid Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Drivers
    4.1.1 Increasing Demand for Preservatives and Feed Additives
    4.1.2 Increasing Consumption of Meat and Poultry
    4.2 Restraints
    4.2.1 Emerging Cost-effective Substitutes
    4.2.2 Other Restraints
    4.3 Industry Value Chain Analysis
    4.4 Porters Five Forces Analysis
    4.4.1 Bargaining Power of Suppliers
    4.4.2 Bargaining Power of Consumers
    4.4.3 Threat of New Entrants
    4.4.4 Threat of Substitute Products and Services
    4.4.5 Degree of Competition
    4.5 Price Analysis
    4.6 Policies and Regulations

    5.1 Grade Type
    5.1.1 75%
    5.1.2 80%
    5.1.3 85%
    5.1.4 94%
    5.1.5 99%
    5.2 Application
    5.2.1 Animal Feed Silage Additive Preservative
    5.2.2 Leather Tanning
    5.2.3 Textile Dyeing and Finishing
    5.2.4 Intermediary in Pharmaceuticals
    5.2.5 Other Applications
    5.3 Geography
    5.3.1 Asia-Pacific China India Japan South Korea ASEAN Countries Rest of Asia-Pacific
    5.3.2 North America United States Canada Mexico Rest of North America
    5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
    5.3.4 South America Brazil Argentina Rest of South America
    5.3.5 Middle East & Africa Middle East Africa

    6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
    6.2 Market Share Analysis**
    6.3 Strategies Adopted by Leading Players
    6.4 Company Profiles
    6.4.1 Anhui Asahi Kasei Chemical
    6.4.2 BASF SE
    6.4.3 Beijing Chemical Industry Group
    6.4.4 Feicheng Acid Chemical
    6.4.5 Gujarat Narmada Valley Fertilizers & Chemicals Limited
    6.4.6 Luxi Chemical Group Co. Ltd
    6.4.7 Perstorp
    6.4.8 Polioli SpA
    6.4.9 Rashtriya Chemicals and Fertilizers Limited
    6.4.10 Shandong Baoyuan Chemical Co. Ltd
    6.4.11 Shanxi Province Yuanping Chemicals Co. Ltd
    6.4.12 Wuhan Rui Fuyang Chemical Co. Ltd
    6.4.13 Eastman Chemical Company

    7.1 Organic Acid as a Substitute for Antibiotics in Animal Feed


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