Global Formic Acid Market 2026-2030

Description

The global formic acid market is forecasted to grow by USD 713.5 mn during 2025-2030, accelerating at a CAGR of 6.1% during the forecast period. The report on the global formic acid market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand from agriculture and animal feed applications, expansion of industrial applications in leather and textile processing, growth in specialized industrial uses and chemical processing demand.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Market Scope
Base Year	2026
End Year	2030
Series Year	2026-2030
Growth Momentum	Accelerate
YOY 2026	5.4%
CAGR	6.1%
Incremental Value	$713.5 mn

Technavio's global formic acid market is segmented as below:

By Distribution Channel

Offline
Online

By End-User

Agriculture and animal feed
Leather
Textile
Chemicals and pharmaceuticals
Others

By Grade Type

Industrial grade
Pharmaceutical grade
Food grade

Geography

APAC
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
North America
- US
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Spain
- The Netherlands
Middle East and Africa
- UAE
- South Africa
- Turkey
South America
- Brazil
- Argentina
- Colombia
Rest of World (ROW)

This study identifies the shift towards sustainable and bio-based production as one of the prime reasons driving the global formic acid market growth during the next few years. Also, integration of circular economy and carbon utilization practices and digitalization and automation in supply chain management will lead to sizable demand in the market.

The report on the global formic acid market covers the following areas:

Global formic acid market sizing
Global formic acid market forecast
Global formic acid market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading global formic acid market vendors that include Asahi Kasei Corp., BASF SE, Cellmark AB, China National Chemical Corp. Ltd., Eastman Chemical Co., EMCO Dyestuff Pvt. Ltd., Hydrite Chemical Co., Kemira Oyj, Luxi Chemical Group Co. Ltd., Mudanjiang Fengda Chemical Co. Ltd., OXEA GmbH, Perstorp Holding AB, Shandong Acid Technology Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Co. Ltd.. Also, the global formic acid market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR43378

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Distribution Channel
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Market Segmentation by Grade Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
2.3 Factors of disruption
2.4 Impact of drivers and challenges

3 Market Landscape

3.1 Market ecosystem
3.2 Market characteristics
3.3 Value chain analysis

4 Market Sizing

4.1 Market definition
4.2 Market segment analysis
- Market segments
4.3 Market size 2025
4.4 Market outlook: Forecast for 2025-2030

5 Historic Market Size

5.1 Global Formic Acid Market 2020 - 2024
- Historic Market Size - Data Table on Global Formic Acid Market 2020 - 2024 ($ million)
5.2 Distribution Channel segment analysis 2020 - 2024
- Historic Market Size - Distribution Channel Segment 2020 - 2024 ($ million)
5.3 End-user segment analysis 2020 - 2024
- Historic Market Size - End-user Segment 2020 - 2024 ($ million)
5.4 Grade Type segment analysis 2020 - 2024
- Historic Market Size - Grade Type Segment 2020 - 2024 ($ million)
5.5 Geography segment analysis 2020 - 2024
- Historic Market Size - Geography Segment 2020 - 2024 ($ million)
5.6 Country segment analysis 2020 - 2024
- Historic Market Size - Country Segment 2020 - 2024 ($ million)

6 Qualitative Analysis

6.1 AI Impact on Global Formic Acid Market

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2025 and 2030
7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2025 and 2030
7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2025 and 2030
7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2025 and 2030
7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2025 and 2030
7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2025 and 2030
7.7 Market condition

8 Market Segmentation by Distribution Channel

8.1 Market segments
8.2 Comparison by Distribution Channel
8.3 Offline - Market size and forecast 2025-2030
8.4 Online - Market size and forecast 2025-2030
8.5 Market opportunity by Distribution Channel
- Market opportunity by Distribution Channel ($ million)

9 Market Segmentation by End-user

9.1 Market segments
9.2 Comparison by End-user
9.3 Agriculture and animal feed - Market size and forecast 2025-2030
9.4 Leather - Market size and forecast 2025-2030
9.5 Textile - Market size and forecast 2025-2030
9.6 Chemicals and pharmaceuticals - Market size and forecast 2025-2030
9.7 Others - Market size and forecast 2025-2030
9.8 Market opportunity by End-user
- Market opportunity by End-user ($ million)

10 Market Segmentation by Grade Type

10.1 Market segments
10.2 Comparison by Grade Type
10.3 Industrial grade - Market size and forecast 2025-2030
10.4 Pharmaceutical grade - Market size and forecast 2025-2030
10.5 Food grade - Market size and forecast 2025-2030
10.6 Market opportunity by Grade Type
- Market opportunity by Grade Type ($ million)

11 Customer Landscape

11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

12 Geographic Landscape

12.1 Geographic segmentation
12.2 Geographic comparison
12.3 APAC - Market size and forecast 2025-2030
- 12.3.1 China - Market size and forecast 2025-2030
- 12.3.2 Japan - Market size and forecast 2025-2030
- 12.3.3 India - Market size and forecast 2025-2030
- 12.3.4 South Korea - Market size and forecast 2025-2030
- 12.3.5 Australia - Market size and forecast 2025-2030
- 12.3.6 Indonesia - Market size and forecast 2025-2030
12.4 North America - Market size and forecast 2025-2030
- 12.4.1 US - Market size and forecast 2025-2030
- 12.4.2 Canada - Market size and forecast 2025-2030
- 12.4.3 Mexico - Market size and forecast 2025-2030
12.5 Europe - Market size and forecast 2025-2030
- 12.5.1 Germany - Market size and forecast 2025-2030
- 12.5.2 UK - Market size and forecast 2025-2030
- 12.5.3 France - Market size and forecast 2025-2030
- 12.5.4 Italy - Market size and forecast 2025-2030
- 12.5.5 Spain - Market size and forecast 2025-2030
- 12.5.6 The Netherlands - Market size and forecast 2025-2030
12.6 Middle East and Africa - Market size and forecast 2025-2030
- 12.6.1 Saudi Arabia - Market size and forecast 2025-2030
- 12.6.2 UAE - Market size and forecast 2025-2030
- 12.6.3 South Africa - Market size and forecast 2025-2030
- 12.6.4 Israel - Market size and forecast 2025-2030
- 12.6.5 Turkey - Market size and forecast 2025-2030
12.7 South America - Market size and forecast 2025-2030
- 12.7.1 Brazil - Market size and forecast 2025-2030
- 12.7.2 Argentina - Market size and forecast 2025-2030
- 12.7.3 Colombia - Market size and forecast 2025-2030
12.8 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)

13 Drivers, Challenges, and Opportunity

13.1 Market drivers
- Rising demand from agriculture and animal feed applications
- Expansion of industrial applications in leather and textile processing
- Growth in specialized industrial uses and chemical processing demand
13.2 Market challenges
- Raw material volatility and supply chain disruptions
- Stringent environmental and regulatory compliance
- Technological and production efficiency constraints
13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2025 and 2030
13.4 Market opportunities
- Shift towards sustainable and bio-based production
- Integration of circular economy and carbon utilization practices
- Digitalization and automation in supply chain management

14 Competitive Landscape

14.1 Overview
14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
14.3 Landscape disruption
- Overview on factors of disruption
14.4 Industry risks
- Impact of key risks on business

15 Competitive Analysis

15.1 Companies profiled
- Companies covered
15.2 Company ranking index
- Company ranking index
15.3 Market positioning of companies
- Matrix on companies position and classification
15.4 Asahi Kasei Corp.
- Asahi Kasei Corp. - Overview
- Asahi Kasei Corp. - Business segments
- Asahi Kasei Corp. - Key news
- Asahi Kasei Corp. - Key offerings
- Asahi Kasei Corp. - Segment focus
- SWOT
15.5 BASF SE
- BASF SE - Overview
- BASF SE - Business segments
- BASF SE - Key news
- BASF SE - Key offerings
- BASF SE - Segment focus
- SWOT
15.6 Cellmark AB
- Cellmark AB - Overview
- Cellmark AB - Product / Service
- Cellmark AB - Key offerings
- SWOT
15.7 China National Chemical Corp. Ltd.
- China National Chemical Corp. Ltd. - Overview
- China National Chemical Corp. Ltd. - Product / Service
- China National Chemical Corp. Ltd. - Key offerings
- SWOT
15.8 Eastman Chemical Co.
- Eastman Chemical Co. - Overview
- Eastman Chemical Co. - Business segments
- Eastman Chemical Co. - Key news
- Eastman Chemical Co. - Key offerings
- Eastman Chemical Co. - Segment focus
- SWOT
15.9 EMCO Dyestuff Pvt. Ltd.
- EMCO Dyestuff Pvt. Ltd. - Overview
- EMCO Dyestuff Pvt. Ltd. - Product / Service
- EMCO Dyestuff Pvt. Ltd. - Key offerings
- SWOT
15.10 Hydrite Chemical Co.
- Hydrite Chemical Co. - Overview
- Hydrite Chemical Co. - Product / Service
- Hydrite Chemical Co. - Key news
- Hydrite Chemical Co. - Key offerings
- SWOT
15.11 Kemira Oyj
- Kemira Oyj - Overview
- Kemira Oyj - Business segments
- Kemira Oyj - Key offerings
- Kemira Oyj - Segment focus
- SWOT
15.12 Luxi Chemical Group Co. Ltd.
- Luxi Chemical Group Co. Ltd. - Overview
- Luxi Chemical Group Co. Ltd. - Product / Service
- Luxi Chemical Group Co. Ltd. - Key offerings
- SWOT
15.13 Mudanjiang Fengda Chemical Co. Ltd.
- Mudanjiang Fengda Chemical Co. Ltd. - Overview
- Mudanjiang Fengda Chemical Co. Ltd. - Product / Service
- Mudanjiang Fengda Chemical Co. Ltd. - Key offerings
- SWOT
15.14 OXEA GmbH
- OXEA GmbH - Overview
- OXEA GmbH - Product / Service
- OXEA GmbH - Key offerings
- SWOT
15.15 Perstorp Holding AB
- Perstorp Holding AB - Overview
- Perstorp Holding AB - Business segments
- Perstorp Holding AB - Key offerings
- Perstorp Holding AB - Segment focus
- SWOT
15.16 Shandong Acid Technology Co. Ltd.
- Shandong Acid Technology Co. Ltd. - Overview
- Shandong Acid Technology Co. Ltd. - Product / Service
- Shandong Acid Technology Co. Ltd. - Key offerings
- SWOT
15.17 Thermo Fisher Scientific Inc.
- Thermo Fisher Scientific Inc. - Overview
- Thermo Fisher Scientific Inc. - Business segments
- Thermo Fisher Scientific Inc. - Key news
- Thermo Fisher Scientific Inc. - Key offerings
- Thermo Fisher Scientific Inc. - Segment focus
- SWOT
15.18 Tokyo Chemical Co. Ltd.
- Tokyo Chemical Co. Ltd. - Overview
- Tokyo Chemical Co. Ltd. - Product / Service
- Tokyo Chemical Co. Ltd. - Key offerings
- SWOT

16 Appendix

16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
16.3 Currency conversion rates for US$
- Currency conversion rates for US$
16.4 Research methodology
- Research methodology
16.5 Data procurement
- Information sources
16.6 Data validation
- Data validation
16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
16.8 Data synthesis
- Data synthesis
16.9 360 degree market analysis
- 360 degree market analysis
16.10 List of abbreviations
- List of abbreviations