Formic Acid Market Research, Growth Opportunities, Analysis and Forecasts to 2027 - PowerPoint PPT Presentation

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Formic Acid Market Research, Growth Opportunities, Analysis and Forecasts to 2027

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Global Formic Acid Market: Information by Production (Carbonylation of Methanol, Oxalic Acid), Application (Animal Feed, Preservatives, Rubber and Leather Production, Dyeing and Finishing Textiles, Cleaning Agents, Others), and Region - Forecast Till 2027 – PowerPoint PPT presentation

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Title: Formic Acid Market Research, Growth Opportunities, Analysis and Forecasts to 2027


1
Formic Acid Market Research Report - Forecast to
2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
2
Formic Acid Market Research Report- Forecast to
2023
Formic Acid Market - Overview
Formic Acid is a colorless liquid which has high
use in the animal feed sector due to its
nutritional value. It is also known as methanoic
acid. It is produced naturally from the venom of
ants and bees. The Global Formic Acid Market
report by Market Research Future (MRFR) uses
historical data to make accurate forecasts for
the period of 2017 to 2027 keeping in mind the
growth drivers and challenges. Market
Outlook The Global Formic Acid Market is
predicted to exhibit 4.94 CAGR from 2017 to 2027
(forecast period) to touch a size of USD 878.7
million. The use of animal feedstocks for
enhancing the health of animals is one of the
biggest drivers of the market. Ban on antibiotics
in animal feedstock as growth enhancers are
likely to work in favor of the market. The use of
Formic Acid in the production of rubber sheets is
expected to bode well for the Global Formic Acid
Market. The high demand for food and the focus on
crop production is expected to drive the market
demand during the forecast period. Investments by
developing economies for expanding the range of
application of Formic Acid can fuel the market
growth. Formic Acid is being used for storing
hydrogen in a hydrogen fuel cell. But the
extensive use of Formic Acid in formulations may
increase the toxicity of products and hamper the
market growth.
3
Formic Acid Market Research Report- Forecast to
2023
Segmental Analysis
The Global Formic Acid Market is segmented by
Production Method and Application. By Production
Method, it is segmented into oxalic acid and
carbonylation of methanol. The carbonylation of
methanol method accounted for over 70 market
share in 2016. It can exhibit 4.97 CAGR during
the assessment period due to the popularity of
the method for substitution of high nutrient
substances. By Application, it is segmented into
dyeing and finishing textiles, rubber and leather
production, cleaning agents, animal feed,
preservatives, and others. The animal feed
segment can generate significant revenue for the
Global Formic Acid Market due to the use of the
compound in poultries for ensuring the well-being
of chickens in hatcheries. It is touted to
dominate during the forecast period by exhibiting
5.29 CAGR during the assessment period. View
Full Press Release _at_ https//www.marketresearchfut
ure.com/reports/formic-acid-market-1132

4
Formic Acid Market Research Report- Forecast to
2023
Regional Outlook
The Middle East Africa, Latin America, Asia
Pacific (APAC), North America, and Europe are
regions taken into consideration in the
compilation of the Global Formic Acid Market
Report. The APAC region accounted for over 70
market share due to the economic growth of
developed countries. It can exhibit 5.97 CAGR
during the forecast period due to the large
population which require animal feed additives.
Supportive government regulations as well as the
high purchasing power of farmers and other
end-users in Thailand, South Korea, China, and
India can drive the Global Formic Acid Market
revenues. Europe will assume the second position
after APAC in the market and predicted to exhibit
5.31 CAGR during the assessment period. The use
of the compound to prevent the proliferation of
harmful pathogens which can affect animal health
can drive the regional demand. The North America
Formic Acid Market can display 4.73 CAGR over
the forecast period. Presence of various feed
manufacturing companies is likely to elevate the
demand for the compound in the region.
Cultivation of poultry and fishes in the region
for sustenance is likely to push the demand for
Formic Acid even higher in the coming years.
5
Formic Acid Market Research Report- Forecast to
2023
Major Players in this Research
  • Formic Acid Market Prominent Players
  • Perstorp AB
  • BASF SE
  • Eastman Chemical Company
  • Feicheng Acid Chemical
  • LUXI Group Co., Ltd.
  • Chongqing Chuandong Chemical (Group) Co., Ltd
  • Gujarat Narmada Valley Fertilizers
  • Chemicals Limited

Get a Free Sample _at_ https//www.marketresearchfutu
re.com/sample_request/1132
6
ABOUT US
MARKET RESEARCH FUTURE At Market Research Future
(MRFR), we enable our customers to unravel the
complexity of various industries through our
Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. MRFR team have
supreme objective to provide the optimum quality
market research and intelligence services to our
clients. Our market research studies by products,
services, technologies, applications, end users,
and market players for global, regional, and
country level market segments, enable our clients
to see more, know more, and do more, which help
to answer all their most important questions. In
order to stay updated with technology and work
process of the industry, MRFR often plans
conducts meet with the industry experts and
industrial visits for its research analyst
members. For more information kindly visit
www.marketresearchfuture.com or contact us at
info_at_marketresearchfuture.com Copyright 2018
Market Research Future All Rights Reserved. This
document contains highly confidential information
and is the sole property of Market Research
Future. No part of it may be circulated, copied,
quoted, or otherwise reproduced without the
written approval of Market Research Future.
7
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