Formic Acid Market Demand and Supply 2018

1
Formic Acid Market Analysis Trends Industry
Forecast till 2024
2
Global Market Scenario of Formic Acid Industry

• Formic Acid Market size should show a significant
  increase due to rising application usage in
  agriculture, leather, and feed additive
  industries. It is also known as carboxylic or
  methanoic acid, can be produced synthetically and
  is found naturally in ant venom. It is a
  colorless liquid with a pungent odor and is known
  for its anti-microbial property which is the
  basis for most applications.
• Increasing use of the product in preservatives,
  its eco-friendliness and high quality is likely
  to boost formic acid market size. Increasing
  standard of living has led to a rise in meat
  consumption, which in turn has stimulated the
  animal feed industry. Global processed meat
  market may exceed about USD 1.5 million by 2024
  and is likely to boost formic acid market size.

3
Continue

• The product is used in concentrations of 85,
  90, 94, and 99, with 85 formic acid being the
  most popular owing to its low concentration which
  is less harmful to humans or the environment.
  Also, manufacturers are using customized
  concentrations depending on specific
  applications, may boost industry growth.
• Increasing its application usage in leather
  textiles, rubber, agriculture, and chemicals
  pharmaceuticals sectors should drive industry
  growth. Formic acid market size should increase
  due to its common use as an agricultural
  pesticide, further boosted by increasing harvest
  due to rising animal feed demand.
• Formic acid industry demand may rise due to its
  use in rubber manufacture for its strong
  coagulating property and leather manufacture for
  its pH-regulating and absorbing capacity. Global
  synthetic leather market worth may exceed over
  USD 80 billion by 2024, which can further
  accelerate product demand.

4
Market research reports Key analytical
components
5
Regional Insights

• Asia Pacific, led by Japan, South Korea,
  Australia, Malaysia and China formic acid market
  size, may witness fast development due to rapid
  growth in the textile, leather and rubber
  industries. China is the largest producer and
  exporter due to availability of cheap labor and
  lax regulations in the country. Meat consumption
  in China may increase to almost 60 kilos per
  person in the forecasted time frame, which is
  likely to increase the demand for animal feed and
  have a positive impact on market demand in the
  region.
• Europe driven by Italy, France, Spain and Germany
  formic acid market size has witnessed a spurt in
  product demand due to the abolition of
  antibiotics as growth promoters for livestock by
  the European Union in 2006. The regional market
  has matured, especially for silage preservation
  applications. Europe poultry feed market is
  likely to exceed about USD 2.5 billion in the
  forecast period at a rate exceeding around 5,
  which may boost formic acid market size.

6

Latest Research Report On Formic Acid Market_at_
https//bit.ly/2movHEK Request Table of
Contents of this report_at_ https//bit.ly/2uH3UmL
For Customization in this report click _at_
https//bit.ly/2NSPRmO
7
Stay In Touch You can visit us at
www.gminsights.com
Thank You