포름산 : 세계 시장 점유율과 순위, 총판매량 및 수요 예측(2025-2031년)

The global market for Formic Acid was estimated to be worth US$ 279 million in 2024 and is forecast to a readjusted size of US$ 373 million by 2031 with a CAGR of 4.0% during the forecast period 2025-2031.

This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Formic Acid cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.

Formic acid (also called methanoic acid) is a colorless liquid with a sharp odor. It is also the simplest carboxylic acid. The chemical formula is HCOOH or HCO2H. Formic acid is an environmentally acceptable and highly efficient organic acid. It is used in many areas, from leather processing to feed preservation. In 2024, global Formic Acid production reached approximately 782 K MT, with an average global market price of around US$ 357 per MT.

The formic acid market is an established segment of the global chemicals industry, driven by its versatility as both an industrial chemical and an agricultural additive. It is extensively used in textile dyeing and finishing, leather processing, and rubber coagulation, where its strong acidity and reducing properties make it a cost-effective solution. In agriculture, formic acid is valued as a feed preservative and antibacterial agent, helping to improve livestock nutrition and reduce spoilage-an application that has seen steady growth in regions with intensive farming practices. Its role as a reducing agent in chemical manufacturing, as well as emerging uses in fuel cells as a hydrogen carrier, add further growth potential, particularly in the context of sustainable energy and green chemistry initiatives.

On the supply side, production is concentrated among a handful of global chemical companies with large-scale facilities in Asia-Pacific and Europe, supported by integrated methanol and acetic acid operations. Asia-Pacific dominates consumption due to its strong industrial base in textiles, leather, and rubber, while Europe emphasizes agriculture and environmentally regulated applications. Market growth is being shaped by regulatory trends encouraging eco-friendly preservatives and technological innovation in formic acid's use as a clean energy vector. Looking forward, steady expansion is expected, with demand supported by both traditional industries and new opportunities in renewable energy and sustainable materials.

This report aims to provide a comprehensive presentation of the global market for Formic Acid, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Formic Acid by region & country, by Type, and by Application.

The Formic Acid market size, estimations, and forecasts are provided in terms of sales volume (K MT) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Formic Acid.

Market Segmentation

By Company

• BASF
• Eastman
• Perstorp
• Rashtriya Chemicals and Fertilizers
• Gujarat Narmada Valley Fertilizers & Chemicals
• LUXI
• Feicheng Acid
• Chongqing Chuandong Chemical
• Shijiazhuang Taihe Chemical

Segment by Type

• Content 85%
• Content below 85%
• Content above 90%

Segment by Application

• Agriculture
• Leather & Textile
• Rubber
• Chemical & Pharmaceuticals
• Others

By Region

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia
  • Rest of Asia-Pacific
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Netherlands
  • Nordic Countries
  • Rest of Europe
• Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of MEA

Chapter Outline

Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 2: Detailed analysis of Formic Acid manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 5: Sales, revenue of Formic Acid in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 6: Sales, revenue of Formic Acid in country level. It provides sigmate data by Type, and by Application for each country/region.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.

Table of Contents

1 Market Overview

• 1.1 Formic Acid Product Introduction
• 1.2 Global Formic Acid Market Size Forecast
  • 1.2.1 Global Formic Acid Sales Value (2020-2031)
  • 1.2.2 Global Formic Acid Sales Volume (2020-2031)
  • 1.2.3 Global Formic Acid Sales Price (2020-2031)
• 1.3 Formic Acid Market Trends & Drivers
  • 1.3.1 Formic Acid Industry Trends
  • 1.3.2 Formic Acid Market Drivers & Opportunity
  • 1.3.3 Formic Acid Market Challenges
  • 1.3.4 Formic Acid Market Restraints
• 1.4 Assumptions and Limitations
• 1.5 Study Objectives
• 1.6 Years Considered

2 Competitive Analysis by Company

• 2.1 Global Formic Acid Players Revenue Ranking (2024)
• 2.2 Global Formic Acid Revenue by Company (2020-2025)
• 2.3 Global Formic Acid Players Sales Volume Ranking (2024)
• 2.4 Global Formic Acid Sales Volume by Company Players (2020-2025)
• 2.5 Global Formic Acid Average Price by Company (2020-2025)
• 2.6 Key Manufacturers Formic Acid Manufacturing Base and Headquarters
• 2.7 Key Manufacturers Formic Acid Product Offered
• 2.8 Key Manufacturers Time to Begin Mass Production of Formic Acid
• 2.9 Formic Acid Market Competitive Analysis
  • 2.9.1 Formic Acid Market Concentration Rate (2020-2025)
  • 2.9.2 Global 5 and 10 Largest Manufacturers by Formic Acid Revenue in 2024
  • 2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Formic Acid as of 2024)
• 2.10 Mergers & Acquisitions, Expansion

3 Segmentation by Type

• 3.1 Introduction by Type
  • 3.1.1 Content 85%
  • 3.1.2 Content below 85%
  • 3.1.3 Content above 90%
• 3.2 Global Formic Acid Sales Value by Type
  • 3.2.1 Global Formic Acid Sales Value by Type (2020 VS 2024 VS 2031)
  • 3.2.2 Global Formic Acid Sales Value, by Type (2020-2031)
  • 3.2.3 Global Formic Acid Sales Value, by Type (%) (2020-2031)
• 3.3 Global Formic Acid Sales Volume by Type
  • 3.3.1 Global Formic Acid Sales Volume by Type (2020 VS 2024 VS 2031)
  • 3.3.2 Global Formic Acid Sales Volume, by Type (2020-2031)
  • 3.3.3 Global Formic Acid Sales Volume, by Type (%) (2020-2031)
• 3.4 Global Formic Acid Average Price by Type (2020-2031)

4 Segmentation by Application

• 4.1 Introduction by Application
  • 4.1.1 Agriculture
  • 4.1.2 Leather & Textile
  • 4.1.3 Rubber
  • 4.1.4 Chemical & Pharmaceuticals
  • 4.1.5 Others
• 4.2 Global Formic Acid Sales Value by Application
  • 4.2.1 Global Formic Acid Sales Value by Application (2020 VS 2024 VS 2031)
  • 4.2.2 Global Formic Acid Sales Value, by Application (2020-2031)
  • 4.2.3 Global Formic Acid Sales Value, by Application (%) (2020-2031)
• 4.3 Global Formic Acid Sales Volume by Application
  • 4.3.1 Global Formic Acid Sales Volume by Application (2020 VS 2024 VS 2031)
  • 4.3.2 Global Formic Acid Sales Volume, by Application (2020-2031)
  • 4.3.3 Global Formic Acid Sales Volume, by Application (%) (2020-2031)
• 4.4 Global Formic Acid Average Price by Application (2020-2031)

5 Segmentation by Region

• 5.1 Global Formic Acid Sales Value by Region
  • 5.1.1 Global Formic Acid Sales Value by Region: 2020 VS 2024 VS 2031
  • 5.1.2 Global Formic Acid Sales Value by Region (2020-2025)
  • 5.1.3 Global Formic Acid Sales Value by Region (2026-2031)
  • 5.1.4 Global Formic Acid Sales Value by Region (%), (2020-2031)
• 5.2 Global Formic Acid Sales Volume by Region
  • 5.2.1 Global Formic Acid Sales Volume by Region: 2020 VS 2024 VS 2031
  • 5.2.2 Global Formic Acid Sales Volume by Region (2020-2025)
  • 5.2.3 Global Formic Acid Sales Volume by Region (2026-2031)
  • 5.2.4 Global Formic Acid Sales Volume by Region (%), (2020-2031)
• 5.3 Global Formic Acid Average Price by Region (2020-2031)
• 5.4 North America
  • 5.4.1 North America Formic Acid Sales Value, 2020-2031
  • 5.4.2 North America Formic Acid Sales Value by Country (%), 2024 VS 2031
• 5.5 Europe
  • 5.5.1 Europe Formic Acid Sales Value, 2020-2031
  • 5.5.2 Europe Formic Acid Sales Value by Country (%), 2024 VS 2031
• 5.6 Asia Pacific
  • 5.6.1 Asia Pacific Formic Acid Sales Value, 2020-2031
  • 5.6.2 Asia Pacific Formic Acid Sales Value by Region (%), 2024 VS 2031
• 5.7 South America
  • 5.7.1 South America Formic Acid Sales Value, 2020-2031
  • 5.7.2 South America Formic Acid Sales Value by Country (%), 2024 VS 2031
• 5.8 Middle East & Africa
  • 5.8.1 Middle East & Africa Formic Acid Sales Value, 2020-2031
  • 5.8.2 Middle East & Africa Formic Acid Sales Value by Country (%), 2024 VS 2031

6 Segmentation by Key Countries/Regions

• 6.1 Key Countries/Regions Formic Acid Sales Value Growth Trends, 2020 VS 2024 VS 2031
• 6.2 Key Countries/Regions Formic Acid Sales Value and Sales Volume
  • 6.2.1 Key Countries/Regions Formic Acid Sales Value, 2020-2031
  • 6.2.2 Key Countries/Regions Formic Acid Sales Volume, 2020-2031
• 6.3 United States
  • 6.3.1 United States Formic Acid Sales Value, 2020-2031
  • 6.3.2 United States Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.3.3 United States Formic Acid Sales Value by Application, 2024 VS 2031
• 6.4 Europe
  • 6.4.1 Europe Formic Acid Sales Value, 2020-2031
  • 6.4.2 Europe Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.4.3 Europe Formic Acid Sales Value by Application, 2024 VS 2031
• 6.5 China
  • 6.5.1 China Formic Acid Sales Value, 2020-2031
  • 6.5.2 China Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.5.3 China Formic Acid Sales Value by Application, 2024 VS 2031
• 6.6 Japan
  • 6.6.1 Japan Formic Acid Sales Value, 2020-2031
  • 6.6.2 Japan Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.6.3 Japan Formic Acid Sales Value by Application, 2024 VS 2031
• 6.7 South Korea
  • 6.7.1 South Korea Formic Acid Sales Value, 2020-2031
  • 6.7.2 South Korea Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.7.3 South Korea Formic Acid Sales Value by Application, 2024 VS 2031
• 6.8 Southeast Asia
  • 6.8.1 Southeast Asia Formic Acid Sales Value, 2020-2031
  • 6.8.2 Southeast Asia Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.8.3 Southeast Asia Formic Acid Sales Value by Application, 2024 VS 2031
• 6.9 India
  • 6.9.1 India Formic Acid Sales Value, 2020-2031
  • 6.9.2 India Formic Acid Sales Value by Type (%), 2024 VS 2031
  • 6.9.3 India Formic Acid Sales Value by Application, 2024 VS 2031

7 Company Profiles

• 7.1 BASF
  • 7.1.1 BASF Company Information
  • 7.1.2 BASF Introduction and Business Overview
  • 7.1.3 BASF Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.1.4 BASF Formic Acid Product Offerings
  • 7.1.5 BASF Recent Development
• 7.2 Eastman
  • 7.2.1 Eastman Company Information
  • 7.2.2 Eastman Introduction and Business Overview
  • 7.2.3 Eastman Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.2.4 Eastman Formic Acid Product Offerings
  • 7.2.5 Eastman Recent Development
• 7.3 Perstorp
  • 7.3.1 Perstorp Company Information
  • 7.3.2 Perstorp Introduction and Business Overview
  • 7.3.3 Perstorp Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.3.4 Perstorp Formic Acid Product Offerings
  • 7.3.5 Perstorp Recent Development
• 7.4 Rashtriya Chemicals and Fertilizers
  • 7.4.1 Rashtriya Chemicals and Fertilizers Company Information
  • 7.4.2 Rashtriya Chemicals and Fertilizers Introduction and Business Overview
  • 7.4.3 Rashtriya Chemicals and Fertilizers Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.4.4 Rashtriya Chemicals and Fertilizers Formic Acid Product Offerings
  • 7.4.5 Rashtriya Chemicals and Fertilizers Recent Development
• 7.5 Gujarat Narmada Valley Fertilizers & Chemicals
  • 7.5.1 Gujarat Narmada Valley Fertilizers & Chemicals Company Information
  • 7.5.2 Gujarat Narmada Valley Fertilizers & Chemicals Introduction and Business Overview
  • 7.5.3 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.5.4 Gujarat Narmada Valley Fertilizers & Chemicals Formic Acid Product Offerings
  • 7.5.5 Gujarat Narmada Valley Fertilizers & Chemicals Recent Development
• 7.6 LUXI
  • 7.6.1 LUXI Company Information
  • 7.6.2 LUXI Introduction and Business Overview
  • 7.6.3 LUXI Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.6.4 LUXI Formic Acid Product Offerings
  • 7.6.5 LUXI Recent Development
• 7.7 Feicheng Acid
  • 7.7.1 Feicheng Acid Company Information
  • 7.7.2 Feicheng Acid Introduction and Business Overview
  • 7.7.3 Feicheng Acid Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.7.4 Feicheng Acid Formic Acid Product Offerings
  • 7.7.5 Feicheng Acid Recent Development
• 7.8 Chongqing Chuandong Chemical
  • 7.8.1 Chongqing Chuandong Chemical Company Information
  • 7.8.2 Chongqing Chuandong Chemical Introduction and Business Overview
  • 7.8.3 Chongqing Chuandong Chemical Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.8.4 Chongqing Chuandong Chemical Formic Acid Product Offerings
  • 7.8.5 Chongqing Chuandong Chemical Recent Development
• 7.9 Shijiazhuang Taihe Chemical
  • 7.9.1 Shijiazhuang Taihe Chemical Company Information
  • 7.9.2 Shijiazhuang Taihe Chemical Introduction and Business Overview
  • 7.9.3 Shijiazhuang Taihe Chemical Formic Acid Sales, Revenue, Price and Gross Margin (2020-2025)
  • 7.9.4 Shijiazhuang Taihe Chemical Formic Acid Product Offerings
  • 7.9.5 Shijiazhuang Taihe Chemical Recent Development

8 Industry Chain Analysis

• 8.1 Formic Acid Industrial Chain
• 8.2 Formic Acid Upstream Analysis
  • 8.2.1 Key Raw Materials
  • 8.2.2 Raw Materials Key Suppliers
  • 8.2.3 Manufacturing Cost Structure
• 8.3 Midstream Analysis
• 8.4 Downstream Analysis (Customers Analysis)
• 8.5 Sales Model and Sales Channels
  • 8.5.1 Formic Acid Sales Model
  • 8.5.2 Sales Channel
  • 8.5.3 Formic Acid Distributors

9 Research Findings and Conclusion

10 Appendix

• 10.1 Research Methodology
  • 10.1.1 Methodology/Research Approach
    • 10.1.1.1 Research Programs/Design
    • 10.1.1.2 Market Size Estimation
    • 10.1.1.3 Market Breakdown and Data Triangulation
  • 10.1.2 Data Source
    • 10.1.2.1 Secondary Sources
    • 10.1.2.2 Primary Sources
• 10.2 Author Details
• 10.3 Disclaimer