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Technavio has announced its latest market research report titled Formic Acid Market by End-user and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Formic Acid Market by End-user and Geography - Forecast and Analysis 2021-2025
NEW YORK , July 20, 2022 /PRNewswire/ -- Formic acid is the simplest form of carboxylic acid. It is systemically referred to as methanoic acid. It plays an important role in chemical synthesis and acts as an intermediate. Formic acid occurs naturally.
The "Formic Acid Market by End User (agriculture and animal feed, leather, textile, chemicals and pharmaceuticals, and others) and Geography (APAC, North America , Europe , South America , and MEA) - Forecast and Analysis 2021-2025 " report has been added to Technavio's offering. The potential growth difference for the formic acid market between 2020 and 2025 is USD 208.72 mn . To get the exact yearly growth variance and the Y-O-Y growth rate, Request a Sample Report.
To learn about additional key drivers, trends, and challenges of the formic acid rate
available with Technavio. Read our Sample Report right now!
The formic acid market report is segmented by end-user (agriculture and animal feed, leather, textile, chemicals and pharmaceuticals, and others) and geography (APAC, North America , Europe , South America , and MEA). APAC will be the leading region with 57% of the market's growth during the forecast period. China and India are the key countries for the formic acid market in APAC.
By end-user, the agriculture and animal feed segment will contribute the largest market share growth during the forecast period. The animal feed industry constitutes the highest percentage of consumption of formic acid, which is widely used as a preservative, disinfectant, and miticide. Moreover, the strong acidification effect of formic acid helps in protecting animal feed against bacterial contamination. It also assimilates protein, retains minerals, and provides energy.
Learn about the contribution of each segment of the formic acid market summarized
in concise infographics and thorough descriptions. View our Sample Report
BASF SE, Eastman Chemical Co., GNFC Ltd., Haviland Enterprises Inc., Kemira Oyj, LUXI Group Co. Ltd., NuGenTec, Perstorp Holding AB, Rashtriya Chemicals and Fertilizers Ltd., and Thermo Fisher Scientific Inc., among others, are some of the key vendors operating in the formic acid market. The formic acid market is concentrated, and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
This report provides a full list of key vendors, their strategies, and the latest
developments of the formic acid market. View a Sample Report
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Accelerate at a CAGR of 4.49%
APAC, North America, Europe, South America, and MEA
China, US, India, Germany, and Spain
Leading companies, competitive strategies, consumer engagement scope
BASF SE, Eastman Chemical Co., GNFC Ltd., Haviland Enterprises Inc., Kemira Oyj, LUXI Group Co. Ltd., NuGenTec, Perstorp Holding AB, Rashtriya Chemicals and Fertilizers Ltd., and Thermo Fisher Scientific Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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