The Report “Formic Acid Market
by Types (Grades of 85%, 94%, 99%, and others) by Application
(Agriculture, Leather & Textile, Rubber, Chemical &
Pharmaceuticals, & others) & by Geography - Global Trends,
Forecasts to 2019” report analyzes the global formic acid market with respect to market drivers, opportunities, and trends in different regions.
http://www.marketsandmarkets.com/Market-Reports/formic-acid-Market-69868960.html
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Early buyers will receive 10% customization on reports.
The formic acid market is significantly penetrating
their end-use industries especially in silage preservation and animal
feed. They have different characteristics as per their manufacturing and
application requirement in the end products. The Asia-Pacific region is
expected to dominate this market with its growing demand for formic
acid in different applications, especially the agriculture, leather
& textile, and rubber industry.
Investments and Expansion is a key part of this
market. The manufacturing companies, associations, and end-product
manufacturers infuse high investments for future advancements and
technology modifications of formic acid to match the new demands coming
from various end-user industries. Formic acid of 85% concentration is
dominant among all the grades of the acid available, in terms of
consumption and revenue, reasoned by it being low in concentration so it
is less toxic to human and environment.
The Asia-Pacific is the largest region, both in terms
of volume and value, followed by Europe and North America. China,
India, U.S., Germany and Brazil are expected to persist as successful
formic acid markets. The key players in the global formic acid market
are BASF SE (Germany), BASF SE (Germany), Feicheng Acid Chemicals Co.
Ltd. (China), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
(India), Perstorp AB (Sweden), Taminco Corporation (Belgium), and
others.
The formic acid demand, in terms of value and volume,
depicts the current and future projections according to the parallel
economic and industrial outlook. This analysis covers important
developments, expansions, agreements, and mergers & acquisitions of
the leading global companies.
The market value of the formic acid market (2012) was
estimated for about about $451,339.4 thousand and is estimated to reach
$618,808.7 thousand by 2019, growing at a CAGR of 4.9%, from 2014 to
2019. The high demand across the industries, such as animal feedstock,
leather & textile, rubber, chemical & pharmaceuticals and other
industries will increase the overall formic acid consumption.
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Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
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