Formic Acid Market Size, Share, Trends and Future Growth Predictions and Forecast 2019 – 2025
This report researches the worldwide Formic Acid market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions.
[EUPRwire, Tue Jun 11 2019]
This study categorizes the global Formic Acid breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Formic acid (also called methanoic acid) is a colorless liquid with a sharp odor. It is also the simplest carboxylic acid. The chemical formula is HCOOH or HCO2H. Formic acid is an environmentally acceptable and highly efficient organic acid. It is used in many areas, from leather processing to feed preservation.
Formic acid is soluble in water, various alcohols, acetone and ether. Most applications require formic acid in concentrations of 85%, 90%, 94% or 99%; the 85% product accounts for the major portion of global demand and is considered the industry standard.
Globally, the global production was 1015 K MT in 2016 and it will reach 1217 K MT in 2022; at the same time, the global production value was 558 Million USD in 2016 and it will be 804 Million USD in 2022.
In addition, the production regions of formic acid are mainly located in China, US, EU and India. China was the leader production regions, which achieved about 48% volume market share in 2016.
In 2015, BASF bullied the first plant of formic acid in Geismar, Louisiana. It is the only formic acid production plant in USA.
Global Formic Acid market size will increase to 890 Million US$ by 2025, from 760 Million US$ in 2017, at a CAGR of 2.0% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Formic Acid.
This report focuses on the top manufacturers' Formic Acid capacity, production, value, price and market share of Formic Acid in global market.
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The following manufacturers are covered in this report:
Rashtriya Chemicals and Fertilizers
Gujarat Narmada Valley Fertilizers & Chemicals
Wuhan Ruisunny Chemical
Shandong Rongyue Chemical
Chongqing Chuandong Chemical
Shanxi Yuanping Chemicals
Shandong Baoyuan Chemical
Formic Acid Breakdown Data by Type
Formic Acid Breakdown Data by Application
Leather & Textile
Chemical & Pharmaceuticals
Formic Acid Production Breakdown Data by Region
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The study objectives are:
To analyze and research the global Formic Acid capacity, production, value, consumption, status and forecast;
To focus on the key Formic Acid manufacturers and study the capacity, production, value, market share and development plans in next few years.
To focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
To define, describe and forecast the market by type, application and region.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each submarket with respect to individual growth trend and their contribution to the market.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Formic Acid :
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.