According to a market report by Lucintel, the future of the global formic acid market looks promising with opportunities in the pharmaceutical intermediate, silage & animal feed, leather & tanning, textile dyeing, oil & gas, rubber chemical markets. The global formic acid market is expected to grow with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are increasing demand for additives for silage and animal feed, growing need for preservation and the agricultural industry, along with using formic acid sustainably in a fuel cell.
A more than 150–page report is developed to understand Trends,
opportunity and forecast in formic acid market to 2030 by sale channel (direct
sale and indirect sale), end use (pharmaceutical intermediate, silage & animal
feeds, leather & tanning, textile dyeing, oil & gas, rubber chemicals,
and others), and region (North America, Europe, Asia Pacific, and the Rest of
the World).
In this market, direct sale and indirect sale are the major segments of
formic acid market by sale channel. Lucintel forecasts that direct sale is
expected to witness the higher growth over the forecast period.
Within this market, silage & animal feed will remain the largest
segment.
Download sample by clicking on formic acid market
APAC is expected to witness highest growth over the forecast period due
to growing nations like China, Japan, and India, the demand for agriculture and
the rubber sector will only grow due to rising urbanization.
BASF SE, Shandong Feicheng Acid Chemicals, Mudanjiang Fengda Chemicals,
LUXI Group, Polioli, Perstorp, Taminco Corporation, Rashtriya Chemicals and
Fertilizers, Gujarat Narmada Valley Fertilizers & Chemicals, and Huanghua
Pengfa Chemical are the major suppliers in the formic acid market.
This unique research report will enable you to make confident business
decisions in this globally competitive marketplace. For a detailed table of
contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth
through game
changer ideas and robust market & unmet
needs analysis. We are based in Dallas, TX and have
been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in
several publications like the Wall Street Journal, ZACKS, and the Financial
Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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