Formic Acid Market
Formic Acid Market Scope: Industry Analysis, Market
Size, Growth, Trends Till 2031
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Formic Acid Market Size and Growth
The Formic Acid market is witnessing steady growth, driven by demand in agriculture, textile, and leather industries. The global market size was valued at approximately $800 million in 2022, with projections suggesting a compound annual growth rate (CAGR) of around 5% through 2028, reflecting increasing industrial applications and sustainability trends.
Companies Covered
(Covid 19 Impact Covered)
◍ BASF
◍ Eastman
◍ Perstorp
◍ Rashtriya Chemicals and Fertilizers
◍ Gujarat Narmada Valley Fertilizers & Chemicals
◍ LUXI
◍ Feicheng Acid
◍ Chongqing Chuandong Chemical
◍ Shijiazhuang Taihe Chemical
The Formic Acid Market features key players like BASF, Eastman, Perstorp, Rashtriya Chemicals and Fertilizers, and others, focusing on applications in agriculture, food preservation, and chemicals. Their consistent innovation and production capabilities drive market growth, with BASF reporting sales of approximately $80 billion and Eastman around $10 billion.
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Market Segmentation
By Application
By Product
Content 85%
Content 90%
◍ Chemical and Pharmaceuticals
Content 98% ◍ Others ◍ Agriculture ◍ Leather and Textile ◍ Rubber
◍ Other
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Market Growth
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$ X Billion USD
