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

Global Formic Acid Industry: Key Statistics and Insights in 2025-2033

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:

Formic acid exhibits versatile properties that make it suitable for a wide range of industrial applications. It serves as an important raw material and intermediate in the production of various chemicals, including acetic acid, sodium formate and formamide, which are used in various industries such as agriculture, pharmaceuticals, textiles and leather. The effectiveness of formic acid as a preservative and antibacterial agent makes it invaluable in many industrial processes. It helps preserve feed grains and silage in agriculture, inhibit bacterial growth in leather tanning and control microbial contamination in pharmaceutical manufacturing, thereby increasing product quality and shelf life.

• Rising demand in leather tanning:

Formic acid serves as an important tanning agent in leather processing. It facilitates the transformation of raw animal hides into durable, flexible and finished leather products by promoting the cross-linking of collagen fibers within the leather structure. This tanning process imparts desirable characteristics, such as softness, strength and resistance to decay, thereby enhancing the quality and durability of leather. Formic acid serves as an efficient coagulant in the early stages of leather tanning, aiding in the removal of non-collagenous proteins and unwanted substances from raw hides. This coagulation process helps to precipitate and remove impurities, ensuring the production of high-quality leather with a uniform texture and appearance.

• Growing awareness about organic acids:

Organic acids such as formic acid are derived from natural sources and exhibit biodegradable properties, making them an environmentally friendly alternative to synthetic chemicals. This represents one of the major factors supporting the growth of the market. As environmental concerns are rising, there is a growing preference for organic acids such as formic acid in various industrial applications where sustainability is a major consideration. Governments and regulatory bodies are imposing stringent regulations and standards to reduce the environmental impact of chemical use in industries, which is fueling the growth of the market.

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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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