Formic Acid Market Share, Demand, Trends and Forecast 2025-2033

Global Formic Acid Market Statistics: 1,216.5 Kilo Tons by 2033

Summary:

• The global formic acid market size reached 944.9 Kilo Tons in 2024.

• The market is expected to reach 1,216.5 Kilo Tons by 2033, exhibiting a growth rate (CAGR) of 2.82% during 2025-2033.

• Asia Pacific leads the market, accounting for the largest formic acid market share.

• Grade 85% accounts for the majority of the market share in the type segment due to its cost-effectiveness compared to higher-grade concentrations.

• Animal feed and silage additives hold the largest share in the formic acid industry.

• Agriculture remains a major sector in the market due to the increasing demand for high-quality animal products and the adoption of modern agricultural practices.

• The rising demand in leather tanning is a primary driver of the formic acid market.

• The growing awareness about organic acids is reshaping the formic acid market.

Industry Trends and Drivers:

• Industrial applications:

It is used in many industries, and it’s commonly known that formic acid is essential for honey bees. When used it aids in the production of acetic acid, sodium formate, and formamide. These are used widely in agricultural, pharmaceutical industries, textile industries as well as leather industries. Also it is important that formic acid act as preservative and antibacterial agent. In agriculture it conserves feed grains and silage. In the leather tanning process it inhibits the growth of bacterial cells. In pharmaceuticals it reduces contamination to almost zero levels. This one help in improving the quality of the products and shelf life of the products.

• Rising demand in leather tanning:

It has a role in tanning of leathers Formic which has importance in tanning process of leather. The wet-blue leather is made out of raw hides by using collagen fibers, thereby making the leather tough yet highly flexible. It helps in tenderizing the leather as well as reinforcing it and giving it the right chemical resistance thus increasing on its quality as well as its durability. First, formic acid is used to wash skins, thus removing undesirable proteins and the substance from the surface to make the skins level.

• Growing awareness about organic acids:

Formic Acid is an organic acid that is natural and biodegradable, as well. So they are more eco-friendly, as compared to the synthetic chemicals on the market today. This advantage brings about market growth as indicated below. As the environment draws more attention, companies are always looking for better options including formic acid solutions. However, increased measures on regulating the use of chemicals by governments is adding to the market more steam.

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Formic Acid Market Report Segmentation:

Breakup By Type:

• Grade 85%

• Grade 94%

• Grade 99%

• Others

Grade 85% represents the largest segment as it is widely used in various industrial applications due to its high purity and effectiveness.

Breakup By Application:

• Animal Feed and Silage Additives

• Leather Tanning

• Textile Dying and Finishing

• Intermediary in Pharmaceuticals

• Others

Animal feed and silage additives account for the majority of the market share due to the increasing demand for high-quality feed additives to improve livestock health and productivity.

Breakup By End Use:

• Agriculture

• Leather and Textile

• Rubber

• Chemical and Pharmaceutical

• Dyeing

• Animal Feed

• Others

Agriculture holds the biggest market share as formic acid is extensively used in agriculture for purposes, such as preserving feed grains, controlling bacterial growth, and enhancing crop yields.

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 enjoys the leading position in the formic acid market due to factors, such as rapid industrialization, increasing agricultural activities, and a growing demand for leather and textiles in countries like China and India.

Top Formic Acid Market Leaders:

The formic acid market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• 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.

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