DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Formic Acid Market - Segmented by Type, End-User Industries, Application and Geography - Trends and Forecasts (2016 - 2021)" report to their offering.
Formic acid, the simplest carboxylic acid, is produced in various concentrations, such as 78%, 80%, 85%, 94% and 99%; wherein, the 85% formic acid is the most widely used. Formic acid is commonly used as a preservative and antibacterial agent in various industries, with animal feed preservation constituting the major segments. Other applications include tanning of leather, dyeing of textiles, as a coagulant in the production of rubber, etc.
The market is mainly driven by the growing demand for preservatives and feed additives. Other major factor includes growth in the meat industry, due to the changing lifestyles in developing countries. However, the market faces certain drawbacks like the emergence of other cost-effective substitutes for formic acid and the fluctuating weather conditions, which will affect the market negatively. These factors may act as a roadblock to the growth of the market.
The formic acid market, based on end-user, can be divided into rubber, textile, leather, chemicals, agriculture and pharmaceutical industry. Currently, the agriculture industry is the dominant sector in the formic acid market, though the use in rubber industry is expected to be the fastest-growing; the reason being the increasing demand for tires in Asia-Pacific.
Some of the major companies dominating the market for formic acid production and uses are:
- BASF SE
- Eastman Chemical Company
- Feicheng Acid Chemicals Co. Ltd.
- Helm Italia (S.R.L.)
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis (Market Size, Growth and Forecast)
7. Competitive Landscape
8. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/wgbfbh/global_formic