Formic Acid Market

Formic Acid Market Size and Forecast

The global Formic Acid Market is valued at USD 2.32 Billion in 2024 and is projected to reach a value of USD 3.865 Billion by 2035 at a CAGR (Compound Annual Growth Rate) of 4.75% between 2025 and 2035.

Formic Acid Market Key Highlights

• Based on the Type, the Grade 85% category accounted for significant market share in Formic Acid market industry for 53.60% in 2024
• In 2024, by Application, Animal Feed and Silage Additives dominated the Formic Acid market with 35.10% of market share
• Based on the End Use, the Agriculture & Animal Feed category accounted for significant market share in Formic Acid market industry for 44.30% in 2024
• Asia Pacific dominated the Formic Acid market industry with 38.50% Formic Acid market share in 2024
• North America region is anticipated to grow at the highest CAGR during the forecast period in Formic Acid market industry

Formic Acid Market Drivers

Growing Demand for Formic Acid market in Agriculture, Dairy, and Livestock Sectors

The rising demand for formic acid in the agriculture, dairy, & livestock sectors underscore its vital role in the global economy. These industries are crucial for food security and provide livelihoods for millions worldwide. As governments encourage the growth of these sectors to boost farmers' incomes and ensure income security, the quality of livestock and animal health becomes increasingly important.

Formic acid preservative and antibacterial properties make it essential for maintaining the nutritional value of animal feed & preventing spoilage. It is a cost-effective solution for ensuring good animal health, which in turn improves the quality of animal products and enhances the livestocks ability to combat diseases. In the dairy industry, Formic acid is used to eliminate harmful bacteria like E. coli and extend product shelf life. As the demand for high-quality animal feed and dairy products driving growth in the Formic Acid market.

Countries in Asia and Europe are increasingly shifting away from antibiotics and are focusing more on using feed acidulants. In particular, emerging economies such as China, India, Thailand, and Germany are driving up demand for meat, milk, & eggs, which in turn is boosting the need for formic acid in agriculture. The United Nations Food and Agriculture Organization (FAO) projects that global food production will need to increase by 60% by 2050. Specifically, the production of animal proteins is expected to surge, with meat production (including poultry, swine, and beef) projected to double, and dairy and fish production nearly tripling. This surge in production will lead to increased feed consumption, further fueling the market for feed acidulants.

Rising Packaged Food Consumption Driving Formic Acid Market Growth

The increasing consumption of packaged foods is set to drive market growth for Formic Acid market, a key preservative in the food industry. Known as E236, Formic acid is used in a range of products, including pickled fish, fruits, vegetables, juices, jelly sweets, & purees, to inhibit the growth of harmful fungi, molds, and bacteria, thereby extending freshness and shelf life. As packaged food accounts for around 35% of global food consumption—a figure projected to rise with increasing disposable incomes and changing lifestyles—the growing demand for processed and ultra-processed foods will likely boost the demand for Formic Acid market.

Formic Acid Market Challenge

Regulatory Challenges Impacting the Formic Acid Market

However, the strict regulatory guidelines surrounding the use of formic acid arise from its substantial health risks, which classify it as a serious occupational hazard. These regulations are enforced by relevant authorities to manage its application and ensure safety. Comprehensive occupational health standards are in place, outlining proper use, exposure limits, and emergency measures in case of accidents. Adherence to these stringent guidelines across countries poses a challenge to the markets growth for Formic Acid market.

Type Insights

The Type segment is divided into Grade 85%, Grade 94%, Grade 99%, Others. The Grade 85% segment held the dominant share in 2024, accounting for significant Formic Acid market industry share of 53.60%.

• Grade 85%: This segment held the most market share in 2024 of Formic Acid market. Grade 85% formic acid is the most commonly used concentration in the global market, valued for its versatility and cost-effectiveness. Additionally, it serves as an important intermediate in leather tanning, textile dyeing, and rubber processing industries. Its demand is driven by increasing livestock farming, stringent regulations on food safety, and the growing need for eco-friendly preservatives in various industrial applications
• Grade 94%: Grade 94% formic acid is a more concentrated form, often preferred in applications where higher purity is required. It finds major usage in the pharmaceutical and chemical industries as a reagent and processing aid. The textile industry also employs this grade for fabric dyeing and finishing processes. The demand for Grade 94% formic acid is expected to grow as industries seek more concentrated solutions for their manufacturing needs
• Grade 99%: Grade 99% formic acid is the highest purity available, making it ideal for specialized applications in the pharmaceutical, food, and electronic industries. It is commonly used in high-precision chemical synthesis, including the production of specialty chemicals and pharmaceuticals. This grade also plays a crucial role in the semiconductor industry, where ultra-pure chemicals are required for manufacturing processes. The demand for Grade 99% formic acid is rising with the increasing adoption of high-tech manufacturing and stringent quality standards in food and pharma sectors

Application Insights

The Application segment is divided into Animal Feed and Silage Additives, Leather Tanning, Textile Dyeing and Finishing, Intermediary in Pharmaceuticals, Preservative & Antibacterial Agent, Cleaning & Descaling Agent, Chemical Intermediates, Food Additives, Oil & Gas Industry, Others. The Animal Feed and Silage Additives segment held the dominant share in 2024, accounting for significant Formic Acid market industry share of 35.10%.

• Animal Feed and Silage Additives: This segment held the most market share in 2024 of Formic Acid market. Formic acid plays a crucial role in animal nutrition, primarily as a feed preservative and silage additive. It helps inhibit microbial growth, reducing spoilage and enhancing the shelf life of animal feed. By maintaining the nutritional integrity of silage and feedstock, it improves livestock health and productivity. The growing emphasis on sustainable animal husbandry and stringent regulations on antibiotic usage in animal feed are driving the demand for Formic Acid Market in this segment
• Leather Tanning: The leather industry relies on formic acid for pH regulation during tanning processes. It enhances the penetration of tanning agents, ensuring uniform leather quality. Due to its ability to preserve hides and improve the final texture of leather, formic acid is a preferred choice in tanneries worldwide. With the rising demand for high-quality leather goods, including footwear, accessories, and automotive upholstery, the consumption of formic acid in this sector is expected to remain strong
• Textile Dyeing and Finishing: Formic acid is widely used in textile dyeing and finishing processes, where it acts as a pH regulator and dye fixative. It enhances color fastness and ensures even dye penetration into fabrics, making it an essential chemical for textile manufacturing. As the global textile and fashion industries expand, particularly in Asia-Pacific regions like China and India, the demand for formic acid in textile processing continues to grow
• Intermediary in Pharmaceuticals: In the pharmaceutical industry, formic acid serves as a key chemical intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its role in drug formulation and organic synthesis makes it valuable for producing antibiotics, pain relievers, and other medicinal compounds. With the increasing global focus on healthcare and the expansion of pharmaceutical production capacities, formic acids demand in this sector is expected to rise steadily
• Preservative & Antibacterial Agent: Formic acid is used as a natural preservative and antibacterial agent across multiple industries, including food, agriculture, and personal care. Its strong antimicrobial properties help extend product shelf life while ensuring safety standards. The rising consumer preference for natural preservatives over synthetic chemicals is boosting formic acids adoption, particularly in organic and eco-friendly product formulations
• Cleaning & Descaling Agent: Due to its strong acidic nature, formic acid is a popular choice for cleaning and descaling applications. It effectively removes mineral deposits, rust, and limescale from industrial equipment, boilers, and pipelines. Its use spans across various sectors, including food processing, manufacturing, and wastewater treatment. The increasing demand for industrial cleaning solutions, coupled with stringent hygiene regulations, is driving Formic Acid market growth in this segment
• Chemical Intermediates: Formic acid serves as a precursor in the production of various chemicals, including formates, esters, and methanol derivatives. It is widely used in the synthesis of agrochemicals, solvents, and plasticizers. The chemical industrys growth, especially in emerging economies, is fueling demand for formic acid as a key intermediate in multiple chemical manufacturing processes
• Food Additives: In the food industry, formic acid is utilized as an acidulant, preservative, and pH regulator. It helps maintain the freshness and safety of processed foods, particularly in dairy and meat products. As global food safety regulations become more stringent and consumer demand for preservative-free products increases, formic acid’s role in food processing is becoming more significant
• Oil & Gas Industry: The oil and gas sector use formic acid in drilling fluids, acidizing treatments, and well stimulation processes. Its ability to enhance oil recovery and remove scale buildup in pipelines makes it an important component in upstream operations. The rising global energy demand and increased exploration activities are expected to drive the adoption of formic acid in this sector

End Use Insights

The End Use segment is divided into Agriculture & Animal Feed, Leather & Textile, Rubber & Plastics, Pharmaceuticals & Healthcare, Chemical & Industrial Processing, Food & Beverage, Oil & Gas, Others. The Agriculture and Animal Feed segment held the dominant share in 2024, accounting for significant Formic Acid market industry share of 44.30%.

• Agriculture & Animal Feed: The agriculture and animal feed industry are one of the largest consumers of formic acid, primarily due to its role in preserving feed and silage. It prevents microbial growth, ensuring better-quality nutrition for livestock while reducing spoilage. With the rising global demand for meat and dairy products and the increasing focus on sustainable farming practices, the adoption of formic acid in this sector continues to expand the Formic Acid market
• Leather & Textile: Formic acid is widely utilized in the leather and textile industries for tanning, dyeing, and finishing applications. In leather processing, it helps adjust pH levels, ensuring better penetration of tanning agents and improving the overall texture of leather products. In textiles, it enhances dye fixation and maintains fabric durability.
• Rubber & Plastics: In the rubber and plastics industry, formic acid is used in coagulating rubber latex, a crucial step in natural rubber processing. Additionally, formic acid is employed in certain plastic manufacturing processes, particularly for producing plasticizers and resins. With the increasing demand for rubber-based automotive and industrial components, the consumption of formic acid in this sector is expected to grow Formic Acid market
• Pharmaceuticals & Healthcare: Formic acid serves as an essential chemical intermediate in pharmaceutical manufacturing, aiding in the synthesis of antibiotics, anti-inflammatory drugs, and other active pharmaceutical ingredients (APIs). It is also used as an antimicrobial agent in healthcare applications. As global healthcare infrastructure expands and the demand for pharmaceuticals rises, particularly in emerging economies, the need for formic acid in this sector is expected to increase significant growth of Formic Acid market
• Chemical & Industrial Processing: The chemical and industrial processing sector extensively uses formic acid as a key ingredient in the production of formates, esters, and specialty chemicals. It serves as a vital intermediate in various industrial reactions and manufacturing processes. The continuous expansion of industrial operations globally is fueling the growth of Formic Acid market in this segment
• Food & Beverage: In the food and beverage industry, formic acid is used as a preservative, acidulant, and antibacterial agent. It helps maintain the freshness and safety of processed foods, particularly in dairy and meat products. Due to its antimicrobial properties, it is also used in brewing and fermentation processes. With increasing consumer demand for natural preservatives and the expansion of the global food processing industry, the role of formic acid in this sector is becoming more significant
• Oil & Gas: The oil and gas industry relies on formic acid for well stimulation, drilling fluid formulations, and pipeline maintenance. It enhances oil recovery by dissolving mineral deposits and removing scale buildup in extraction and refining processes. With the continuous exploration and production activities in the global energy sector, the adoption of formic acid in this industry is expected to remain strong

Formic Acid Market Regional Trends

In 2024, the Asia Pacific captured 38.50% of the revenue share.

Asia Pacific Formic Acid Market Trends

Asia Pacific Formic Acid Market is driven by robust demand for meat, poultry, and textiles in key countries like China and India. China, a major player in both the meat & textile industries, is expected to sustain its market leadership. The United States Department of Agriculture forecasts Chinas chicken production to remain stable at 14.3 million metric tons in 2023, with a growing need for affordable chicken products as consumers shift towards diverse protein sources.

China Formic Acid Market Trends

China's pork production surged to 15.61 million tons in the first quarter of the year, reflecting a 14% increase from the previous year, underscoring its substantial role in the global meat market. Despite facing challenges such as rising labor costs and global protectionism affecting its textile industry, China remains the largest producer & exporter of textiles and clothing.

India Formic Acid Market Trends

India Formic Acid Market is driven by low organic feed market penetration and increasing formal offtake, highlighting the expanding opportunities within the animal feed sector. According to Invest India, the animal feed market in India is projected to reach USD 6 billion by 2025. Compound cattle feed alone has a potential market value of USD 400-650 million, with a notable annual growth rate of 16% by 2025. These trends in the animal feed industry are expected to significantly boost the demand for Formic Acid market industry, particularly as it is used in animal feed & silage additives.

North America Formic Acid Market Trends

North America Formic Acid Market is driven by its diverse industrial applications across agriculture, leather processing, rubber, pharmaceuticals, chemicals, and oil & gas. The increasing adoption of eco-friendly and biodegradable chemicals has also contributed to the rising demand for formic acid in the region. The U.S. held largest Formic Acid market in North America due to its strong industrial base, particularly in agriculture, pharmaceuticals, and oil & gas. The increasing trend of sustainable chemical solutions is further boosting demand.

Based on the provided market data, Vantage Market Research offers customizations in the reports to meet the specific needs of clients.

Formic Acid Market Trends

1. Sustainability Focus: Growing emphasis on sustainable production methods, including the use of renewable biomass-based raw materials and carbon capture technologies.
2. Increasing Agricultural Demand: Rising use of formic acid as a feed additive and silage preservative due to its effectiveness in enhancing livestock productivity and feed preservation.
3. Expanding Applications: Broadening use in diverse industries such as leather tanning, textile dyeing, pharmaceuticals, and rubber products, driven by its versatile chemical properties.
4. Technological Advancements: Development of advanced production technologies and innovations, including electrochemical processes for converting CO2 emissions into formic acid
5. Regulatory and Environmental Pressures: Increasing regulatory pressures for reducing environmental impact, leading to the adoption of greener and more efficient production practices

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Competitive Landscape

The Formic Acid market report is characterized by the presence of both established players and emerging companies, each strive for market share through product innovation, strategic partnerships, and geographic expansion. The Formic Acid market is characterized by intense competition as companies strive to innovate, expand their product portfolios, and capture a larger share of the growing demand for Formic Acid market.

• BASF SE– One of the leading producers of formic acid, BASF SE offers high-purity grades used in animal nutrition, leather processing, and industrial applications. The company emphasizes sustainability and has invested in bio-based chemical production
• Eastman Chemical Company– A major player in the North American market, Eastman Chemical supplies formic acid for various industrial applications, including cleaning agents and preservatives. The company focuses on innovation and environmentally friendly solutions

The key players in the global Formic Acid market include - BASF SE among others.

Latest Announcements

BASF increases prices for Formic Acid and for Propionic Acid

• In November 2020, With immediate effect or as existing contracts permit BASF is increasing the price for Formic Acid and Propionic Acid

Formic Acid Market Segments Covered in the report:

By Type:

• Grade 85%
• Grade 94%
• Grade 99%
• Others

By Application:

• Animal Feed and Silage Additives
• Leather Tanning
• Textile Dying and Finishing
• Intermediary in Pharmaceuticals
• Preservative & Antibacterial Agent
• Cleaning & Descaling Agent
• Chemical Intermediates
• Food Additives
• Oil & Gas Industry
• Others

By End Use:

• Agriculture & Animal Feed
• Leather & Textile
• Rubber & Plastics
• Pharmaceuticals & Healthcare
• Chemical & Industrial Processing
• Food & Beverage
• Oil & Gas
• Others

Formic Acid Market Regions and Countries:

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Nordic Countries
• Benelux Union
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• South-East Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Rest of Latin America

The Middle-East and Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle-East Africa