Formic Acid Market Research Report Information By Production Method (Oxalic Acid, Carbonylation of Methanol), By Application (Rubber, Leather Production, Cleaning Agent, Finishing Textile, Preservatives, Dyeing, Animal Feed, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

1 Report Prologue

2 Market Introduction

2.1 Market Definition 11

2.2 Scope of The Study 11

2.2.1 Research Objectives 11

2.2.2 Assumptions 12

2.2.3 Limitations 12

2.3 Markets Structure 12

3 Research Methodology

3.1 Research Process 13

3.2 Primary Research 14

3.3 Secondary Research 14

3.4 Market Size Estimation 14

3.5 Forecast Model 16

4 Market Dynamics

4.1 Introduction 17

4.2 Drivers 19

4.2.1 Ban on usage of antibiotics as growth promoters in animal feedstock is driving formic acid market. 19

4.2.2 Upsurge demand of formic acid in coagulating latex for rubber sheet can further augment the demand in rubber & textile industry. 20

4.2.3 Substantial growth of agriculture industry has accounted for higher usage of formic acid in animal feed and preservatives. 20

4.3 Restraints 21

4.3.1 Changing climatic conditions are negatively impacting end user industries. 21

4.3.2 Higher toxicity levels in higher grades of formic acid hampers the formic acid market. 21

4.3.3 Rise in price of raw materials 22

4.4 Opportunities & Trends 22

4.4.1 Expansions and investments in formic acid development by major key players is expected to provide opportunities across the value chain. 22

5 Market Factor Analysis

5.1 Supply Chain Analysis/ Value Chain Analysis 23

5.1.1 Raw Material Suppliers 23

5.1.2 Formic Acid Manufacturers 24

5.1.3 Distribution Channel 24

5.1.4 End-Use Industry 24

5.2 Porter’s 5 Analysis 24

5.2.1 Threat of New Entrants 24

5.2.2 Threat of Rivalry 24

5.2.3 Threat of Substitute 25

5.2.4 Bargaining Power of Supplier 25

5.2.5 Bargaining Power of Buyer 25

6 Global Formic Acid Market By Production Method

6.1 Introduction 26

6.2 Carbonylation of Methanol 28

6.3 Oxalic Acid 31

7 Global Formic Acid Market, By Application

7.1 Introduction 34

7.2 Animal Feed 36

7.3 Preservatives 38

7.4 Cleaning Agents 40

7.5 Dyeing and Finishing Textiles 42

7.6 Rubber & Leather Production 44

7.7 Others 47

8 Global Formic Acid Market, By Regions

8.1 Introduction 49

8.2 Asia-Pacific 53

8.2.1 China 57

8.2.2 India 59

8.2.3 Japan 61

8.2.4 Rest Of Asia Pacific 63

8.3 Europe 66

8.3.1 Germany 70

8.3.2 UK 72

8.3.3 France 74

8.3.4 Spain 76

8.3.5 Italy 78

8.3.6 Rest of Europe 80

8.4 North America 82

8.4.1 U.S 86

8.4.2 Canada 88

8.5 Rest of The World 90

9 Competitive Landscape

9.1 Introduction 93

9.2 Production Analysis 93

9.3 Key Development & Strategies 94

10 Company Profiles

10.1 BASF SE (Germany) 95

10.1.1 Company Overview 95

10.1.2 Product/Business Segment Overview 95

10.1.3 Financial Update 96

10.1.4 Key Developments 97

10.2 Perstorp Holdings A.B (Sweden) 98

10.2.1 Company Overview 98

10.2.2 Product/Business Segment Overview 98

10.2.3 Financial Updates 99

10.2.4 Key Developments 99

10.3 Eastman Chemical Company (U.S) 100

10.3.1 Company Overview 100

10.3.2 Product/Business Segment Overview 100

10.3.3 Financial Updates 101

10.3.4 Key Developments 101

10.4 Gujarat Narmada Valley Fertilizers& Chemicals Limited (India) 102

10.4.1 Company Overview 102

10.4.2 Product/Business Segment Overview 102

10.4.3 Financial Update 103

10.4.4 Key Developments 103

10.5 Feicheng Acid Chemical (China) 104

10.5.1 Company Overview 104

10.5.2 Product/Business Segment Overview 104

10.5.3 Financial Updates 104

10.5.4 Key Developments 104

10.6 Chongqing Chuandong Chemical (Group) Co., Ltd (China) 105

10.6.1 Company Overview 105

10.6.2 Product/Business Segment Overview 105

10.6.3 Financial Updates 106

10.6.4 Key Developments 106

10.7 LUXI Group CO., LTD (China) 107

10.7.1 Company Overview 107

10.7.2 Product/Business Segment Overview 107

10.7.3 Financial Updates 108

10.7.4 Key Developments 108

11 Conclusion

12 List of Tables

TABLE 1 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 27

TABLE 2 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 28

TABLE 3 GLOBAL CARBONYLATION OF METHANOL MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 30

TABLE 4 GLOBAL CARBONYLATION OF METHANOL MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 30

TABLE 5 GLOBAL OXALIC ACID MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 31

TABLE 6 GLOBAL OXALIC ACID MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 33

TABLE 7 GLOBAL FORMIC ACID MARKET, BY APPILICATION, (2023-2030) (USD MILLION) 35

TABLE 8 GLOBAL FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 36

TABLE 9 GLOBAL ANIMAL FEED MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 37

TABLE 10 GLOBAL ANIMAL FEED MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 38

TABLE 11 GLOBAL PRESERVATIVES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 39

TABLE 12 GLOBAL PRESERVATIVES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 40

TABLE 13 GLOBAL CLEANING AGENTS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 42

TABLE 14 GLOBAL CLEANING AGENTS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 42

TABLE 15 GLOBAL DYEING AND FINISHING TEXTILES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 43

TABLE 16 GLOBAL DYEING AND FINISHING TEXTILES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 44

TABLE 17 GLOBAL RUBBER & LEATHER PRODUCTION MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 46

TABLE 18 GLOBAL RUBBER & LEATHER PRODUCTION MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 46

TABLE 19 GLOBAL OTHERS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (USD MILLION) 47

TABLE 20 GLOBAL OTHERS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023-2030) (‘000 TONS) 48

TABLE 21 GLOBAL FORMIC ACID MARKET, BY REGION, (2023-2030) (USD MILLION) 50

TABLE 22 GLOBAL FORMIC ACID MARKET, BY REGION, (2023-2030) (‘000 TONS) 51

TABLE 23 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 51

TABLE 24 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 52

TABLE 25 GLOBAL FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 52

TABLE 26 GLOBAL FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 53

TABLE 27 ASIA PACIFIC FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 54

TABLE 28 ASIA PACIFIC FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 55

TABLE 29 ASIA PACIFIC FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 55

TABLE 30 ASIA PACIFIC FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 56

TABLE 31 ASIA PACIFIC FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 56

TABLE 32 ASIA PACIFIC FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 57

TABLE 33 CHINA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 57

TABLE 34 CHINA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 58

TABLE 35 CHINA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 58

TABLE 36 CHINA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 59

TABLE 37 INDIA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 59

TABLE 38 INDIA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 60

TABLE 39 INDIA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 60

TABLE 40 INDIA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 61

TABLE 41 JAPAN FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 61

TABLE 42 JAPAN FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 62

TABLE 43 JAPAN FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 62

TABLE 44 JAPAN FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 63

TABLE 45 REST OF ASIA PACIFIC FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 63

TABLE 46 REST OF ASIA PACIFIC FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 64

TABLE 47 REST OF ASIA PACIFIC FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 64

TABLE 48 REST OF ASIA PACIFIC FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 65

TABLE 49 EUROPE FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 66

TABLE 50 EUROPE FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 67

TABLE 51 EUROPE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 68

TABLE 52 EUROPE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 68

TABLE 53 EUROPE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 69

TABLE 54 EUROPE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 69

TABLE 55 GERMANY FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 70

TABLE 56 GERMANY FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 70

TABLE 57 GERMANY FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 71

TABLE 58 GERMANY FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 71

TABLE 59 UK FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 72

TABLE 60 UK FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 72

TABLE 61 UK FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 73

TABLE 62 UK FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 73

TABLE 63 FRANCE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 74

TABLE 64 FRANCE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 74

TABLE 65 FRANCE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 75

TABLE 66 FRANCE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 75

TABLE 67 SPAIN FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 76

TABLE 68 SPAIN FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 76

TABLE 69 SPAIN FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 77

TABLE 70 SPAIN FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 77

TABLE 71 ITALY FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 78

TABLE 72 ITALY FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 78

TABLE 73 ITALY FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 79

TABLE 74 ITALY FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 79

TABLE 75 REST OF EUROPE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 80

TABLE 76 REST OF EUROPE FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 80

TABLE 77 REST OF EUROPE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 81

TABLE 78 REST OF EUROPE FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 81

TABLE 79 NORTH AMERICA FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 82

TABLE 80 NORTH AMERICA FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 83

TABLE 81 NORTH AMERICA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 84

TABLE 82 NORTH AMERICA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 84

TABLE 83 NORTH AMERICA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 85

TABLE 84 NORTH AMERICA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 85

TABLE 85 U.S FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 86

TABLE 86 U.S FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 86

TABLE 87 U.S FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 87

TABLE 88 U.S FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 87

TABLE 89 CANADA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 88

TABLE 90 CANADA FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 88

TABLE 91 CANADA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 89

TABLE 92 CANADA FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 89

TABLE 93 REST OF THE WORLD FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 90

TABLE 94 REST OF THE WORLD FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 90

TABLE 95 REST OF THE WORLD FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (USD MILLION) 91

TABLE 96 REST OF THE WORLD FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 91

TABLE 97 GLOBAL FORMIC ACID PRODUCTION ANALYSIS, BY KEY PLAYERS (2015) 93

TABLE 98 KEY DEVELOPMENT (2012-2023) 93

TABLE 99 BASF SE: SEGMENT OVERVIEW 95

TABLE 100 BASF SE: KEY DEVELOPMENTS 97

TABLE 101 PERSTORP HOLDINGS A.B: SEGMENT OVERVIEW 98

TABLE 102 PERSTORP HOLDINGS A.B: KEY DEVELOPMENTS 99

TABLE 103 EASTMAN CHEMICAL COMPANY: PRODUCT SEGMENTATION 100

TABLE 104 EASTMAN CHEMICAL COMPANY: KEY DEVELOPMENT 101

TABLE 105 GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LIMITED: SEGMENT OVERVIEW 102

TABLE 106 GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LIMITED: FINANCIAL UPDATES 103

TABLE 107 FEICHENG ACID CHEMICAL: SEGMENT OVERVIEW 104

TABLE 108 CHONGQING CHUANDONG CHEMICAL (GROUP) CO., LTD: SEGMENT OVERVIEW 105

TABLE 109 LUXI GROUP CO., LTD: SEGMENT OVERVIEW 107

13 List of Figures

FIGURE 1 TOP DOWN & BOTTOM UP APPROACH 15

FIGURE 2 FORECAST MODEL 16

FIGURE 3 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND TRENDS OF GLOBAL FORMIC ACID MARKET 18

FIGURE 4 DRIVERS: IMPACT ANALYSIS 19

FIGURE 5 RESTRAINTS: IMPACT ANALYSIS 21

FIGURE 6 SUPPLY CHAIN DIAGRAM 23

FIGURE 7 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (USD MILLION) 26

FIGURE 8 GLOBAL FORMIC ACID MARKET, BY PRODUCTION METHOD, (2023-2030) (‘000 TONS) 27

FIGURE 9 GLOBAL CARBONYLATION OF METHANOL MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 28

FIGURE 10 GLOBAL OXALIC ACID MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 31

FIGURE 11 GLOBAL FORMIC ACID MARKET, BY APPILICATION, (2023-2030) (USD MILLION) 34

FIGURE 12 GLOBAL FORMIC ACID MARKET, BY APPLICATION, (2023-2030) (‘000 TONS) 35

FIGURE 13 GLOBAL ANIMAL FEED MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 37

FIGURE 14 GLOBAL PRESERVATIVES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 39

FIGURE 15 GLOBAL CLEANING AGENTS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 40

FIGURE 16 GLOBAL DYEING AND FINISHING TEXTILES MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 43

FIGURE 17 GLOBAL RUBBER & LEATHER PRODUCTION MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 44

FIGURE 18 GLOBAL OTHERS MARKET FOR FORMIC ACID MARKET, BY REGIONS, (2023) (%) 47

FIGURE 19 GLOBAL FORMIC ACID MARKET, BY REGION, (2023-2030) (USD MILLION) 49

FIGURE 20 GLOBAL FORMIC ACID MARKET, BY REGION, (2023-2030) (‘000 TONS) 50

FIGURE 21 ASIA PACIFIC FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 53

FIGURE 22 ASIA PACIFIC FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 54

FIGURE 23 EUROPE FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 66

FIGURE 24 EUROPE FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 67

FIGURE 25 NORTH AMERICA FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (USD MILLION) 82

FIGURE 26 NORTH AMERICA FORMIC ACID MARKET, BY COUNTRIES, (2023-2030) (‘000 TONS) 83

FIGURE 27 BASF SE: FINANCIAL UPDATES 96

FIGURE 28 PERSTORP HOLDINGS A.B: FINANCIAL UPDATES 99

FIGURE 29 EASTMAN CHEMICAL COMPANY: FINANCIAL UPDATES 101

FIGURE 30 GLOBAL FORMIC ACID MARKET SHARE AND CAGR % (2023-2030) 110