NEW YORK , Sept. 28, 2023 /PRNewswire/ — The formic acid market is expected to grow by $485.04 million from 2022 to 2027. Additionally, the market is projected to grow at a CAGR of 4.88% during the forecast period, Technavio reports. Increasing demand for formic acid as a preservative is significantly boosting the formic acid market. However, factors such as the availability of cost-effective alternatives may hamper the market growth. The market is segmented by distribution channels (offline and online), end users (agriculture and animal feed, leather, textiles, chemicals and pharmaceuticals, etc.) and geographical location (Asia Pacific, North America, Europe, Middle East and Africa). . South America). We provide detailed analysis of 20 companies operating in the Formic Acid market, including BASF SE, Eastman Chemical Co, GNFC Ltd., Joshi Agrochem Pharma Pvt. Ltd., Kakdiya Chemicals, Kemira Oyj, Luxi Chemical Group Co., Ltd., Merck KGaA, MERU CHEM PVT. LTD., NuGenTec, PETRONAS Chemicals Group Berhad, Pon Pure Chemicals Group, ProChem Inc., RXChemicals, Shandong Acid Technology Co. ., Ltd., Shandong Jiuan Chemical Co., Ltd., Shijiazhuang Taihe Chemical Co., Ltd., Thermo Fisher Scientific Co., Ltd., Tokyo Chemical Industry Co., Ltd. and Vizag Chemical International. The report provides the latest market analysis. To find out the exact height difference and year-over-year growth rate, request a free sample report.
This report provides a complete list of top companies, their strategies and recent developments. Buy now to get detailed company information
The offline business is expected to witness significant growth during the forecast period. Formic acid is available from industrial chemical processing suppliers, distributors and manufacturers and is distributed through offline channels. Companies specializing in the distribution of chemicals that require the use of fission acid in their production processes, such as the agricultural, leather and textile industries, often supply this material to other industries. Additionally, offline distribution of formic acid requires close coordination between manufacturers, wholesalers, retailers and end users to ensure a continuous supply of chemicals while maintaining safety standards and regulations. full. Hence, these factors are expected to drive segment growth over the forecast period.
Learn about each segment’s contribution through quick infographics and detailed descriptions. View a free sample report in PDF format
Detailed information on factors that will accelerate the growth of the formic acid market over the next five years.
The hot melt adhesives market is expected to grow at a CAGR of 7.28% from 2022 to 2027. The market size is expected to increase by US$4,396.66 million. Moreover, the report broadly covers the market by products (Ethylene Vinyl Acetate (EVA), Rubber, Polyolefins, Polyurethane, etc.), Applications (Packaging, Hygienic Nonwovens, Furniture & Woodworking, Automotive & Footwear, etc.), Segments and geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa). Widespread adoption of hygiene materials is a key factor driving the market growth during the forecast period.
The fluorapatite market is expected to grow at a compound annual growth rate of 3.85% from 2022 to 2027. The market size is expected to increase by US$151.05 million. In addition, the report broadly covers market segmentation by type (pharmaceutical and industrial grade), application (dental care, fertilizers, chemicals and pharmaceuticals) and geography (North America, Asia Pacific, Europe, South America, Middle East and Africa). Increasing demand for phosphate fertilizers is a key driver of market growth during the forecast period.
Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable information that helps businesses identify market opportunities and develop effective strategies to optimize their market position. With over 500 professional analysts, Technavio’s report library contains over 17,000 reports and continues to grow, covering 800 technologies in 50 countries. Their customer base includes businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, extensive research and actionable market intelligence to identify opportunities in existing and potential markets and assess their competitive position in evolving market scenarios.
Technavio Research Jesse Maida Head of Media and Marketing US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/formic-acid-market-is-to-grow-by-usd-485-04-million-from-2022-to-2027 – -basf-se-eastman-chemical-co-gnfc-ltd-and-more-among-key-companies—technavio-301941998.html