In the first quarter of 2025, the USA Formic Acid market surged by 11.18%, driven by robust downstream demand and tightening logistical conditions. A key catalyst was the strong rebound in the agrochemical and pharmaceutical sectors. In the U.S., FMC Corporation reported a 23% year-over-year increase in agrochemical sales in Q4 2024, showcasing heightened demand for silage preservatives and animal feed additives—primary uses of formic acid.

Get the latest insights on price movement and trend analysis of Formic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

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Formic Acid Market Size 2025-2029

The formic acid market size is forecast to increase by USD 592.9 million at a CAGR of 5.4% between 2024 and 2029.

The market is experiencing significant growth due to the increasing demand for this compound as a preservative in various industries, including food and beverages, pharmaceuticals, and agriculture. Direct syntheses of formic acid in acidic media have made its production more cost-effective and accessible, expanding its application base. However, the market is not without challenges. The presence of cost-effective substitutes, such as acetic acid and propionic acid, poses a threat to formic acid's market share. To capitalize on the opportunities presented by this market, companies must focus on innovation and differentiation.
Developing new applications and improving the production efficiency of formic acid can help companies gain a competitive edge. In India, the growing demand for cattle feed has led to the use of formic acid as an animal feed preservative. Additionally, collaborations and partnerships with key players in related industries can provide valuable synergies and expand market reach. Overall, the market offers significant growth potential for companies that can navigate the competitive landscape and address the challenges presented by substitutes.

What will be the Size of the Formic Acid Market during the forecast period?

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Formic acid, with the chemical formula HCOOH and recognized as the simplest carboxylic acid and the simplest organic acid, holds a significant position in various industries due to its unique acid properties. This versatile compound is extensively used as a preservative in the dairy sector, livestock feed, and silage preservation. In the energy sector, formic acid is employed as a fuel cell additive, contributing to the reduction of greenhouse gas emissions and carbon footprint, offering sustainable solutions in the context of climate change and the transition away from fossil fuels. Additionally, formic acid plays a crucial role in the production of methanoic acid, transfer hydrogenation, and chemical synthesis.
Its applications extend to the processed food industry, where it serves as a preservative and antibacterial agent, and in the leather sector, where it is used as a tanning agent and preservative. Furthermore, formic acid is utilized in animal feed, textile dyeing, and rubber production, among other applications. Overall, the market is experiencing strong growth, driven by the increasing demand for sustainable solutions and the versatility of this essential organic acid.

How is this Formic Acid Industry segmented?

The formic acid industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


End-user

  Agriculture and animal feed
  Leather
  Textile
  Chemicals and pharmaceuticals
  Others


Grade Type

  Grade 85%
  Grade 94%
  Grade 99%
  Others


Application

  Animal Feed
  Silage
  Leather tanning
  Textile dyeing


Geography

  APAC

    Australia
    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    Germany
    UK


  Middle East and Africa

    South Africa


  South America

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. Formic acid, with the chemical formula HCOOH and simple carboxylic acid structure, is a corrosive organic compound widely used in various industries. This colorless, pungent liquid is employed as an antibacterial agent, silage additive, and animal feedstock. In high concentrations, it undergoes exponential development through processes like Carbonylation of Methanol, Oxidation of Formaldehyde, and Transfer Hydrogenation. Formic acid is integral to industries such as Leather Production, Cleaning Agent, Finishing textiles, and Performance Materials. It's also used in Performance Chemicals, Dispersions and Pigments, Care Chemicals, Industrial Solutions, Surface Technologies, and Agricultural Solutions. Applications include Fluoro Silicone, Hydrogen Peroxide, Hydrogen Gas, Carbon Dioxide, and Hydrogen Storage Processes.

Formic acid plays a role in mitigating climate change by reducing carbon emissions in the Dairy sector and Fuel cells. It's also used in the Livestock industry, Acetic Acid production, and Oil and Gas industries. In the Metallurgy Industry, Leather industry, and Rubber industry, formic acid functions as a carboxylic acid, enhancing the properties of various materials. In household cleaning products and processed food, formic acid serves as a preservative. In agriculture, it's used as a liquid storage and regulatory guideline c

The Global Formic Acid Market is Segmented by Application (Animal Feed and Silage Additives, Leather Tanning, and More), Production Method (Methyl Formate Hydrolysis, Carbonylation Technology, and Other Production Methods), End-Use Industry (Agriculture, Leather and Footwear, and More) and Geography (Asia-Pacific, North America, and More). The Market Forecasts are Provided in Terms of Volume (tons).

The Asia-Pacific Formic Acid Market is segmented by application (animal feed and silage additives, leather tanning, textile dyeing, and finishing, intermediary in pharmaceuticals, and other applications) and Geography (China, India, Japan, South Korea, ASEAN Countries, and the rest of Asia-Pacific). The report offers market size and forecasts in volume (tons) for all the above segments.

Global Formic Acid market size is expected to reach $2.32 billion by 2029 at 5.6%, growing demand for animal feed fuels formic acid market expansion

The Europe Formic Acid Market is segmented by Application (Animal Feed and Silage Additives, Leather Tanning, Textile Dyeing, and Finishing, Intermediary in Pharmaceuticals, and Other Applications (Cleaners, Cosmetics, etc.)) and Geography (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe). The report offers market size and forecasts in volume (tons) for all the above segments.

Formic Acid Market size is growing with a annual growth rate of 5.8% in the prediction period and it crosses USD 3.68 Bn by 2032 from USD 2.48 Bn in 2025

The global Formic Acid market has reached around 995 thousand tonnes in 2024 and is expected to grow at a CAGR of 4.45% during the forecast period until 2035.

The Saudi Arabia Formic Acid Market is segmented by Application (Animal Feed and Silage Additives, Leather Tanning, Textile Dyeing, and Finishing, Intermediary in Pharmaceuticals, and Other Applications). For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

The Formic Acid Market size is expected to reach a valuation of USD 29.02 billion in 2033 growing at a CAGR of 9.8%. The Formic Acid Market research report classifies market by share, trend, demand, forecast and based on segmentation.

The global formic acid market was valued at USD 1.77 billion in 2022 and will expand to USD 2.55 billion by 2030, registering a CAGR of 4.8 % for the forecast period 2023-2030. Factors Affecting Formic Acid Market Growth

Increasing demand for animal and poultry feed:

A significant increase in the demand for animal and poultry feed is fueling the growth of the formic acid market. In the feed additives, aldehyde and organic acids are more utilized chemicals. But among the other organic acids, formic acid is used extensively in livestock and poultry feed as a preservative. The growth of livestock and poultry production is driven by urbanization, population growth, and increasing income levels. Livestock animals and poultry birds need nutrients like carbohydrates, fat, protein, and vitamins for their good health. Hence there is high demand for poultry and animal feed. It is effective against bacteria, fungi, and yeast. It limits the growth of Salmonella spp and other foodborne pathogens. Formic acid has been used as a feed antibacterial to reduce pathogen levels in a variety of feed matrices derived from cereal grains.

Increased demand for packaged food:

The growing food industry and rising demand for packaged food are helping to expand the formic acid market. During a pandemic, most people switch to ready-to-eat food or ready-to-cook food, which accelerates the adoption of packaged food. Packaged food includes snacks, cereals, meals, frozen foods, juices, pickles, and others. Formic acid is used in packaged food as a preservative to inhibit the growth of fungi. Thus, it helps to increase the shelf life of products like vegetables, snacks, pickles, juices, and smoked fish. It is also used in cheese to limit the growth of bacteria and improve the acidity level. Formic acid, an organic acid feed preservative, generates a viable-but-nonculturable state and enhances the antimicrobial resistance capability of food. It inhibits the growth of microbes like E-coli, Salmonella, Listeria, and Campylobacter.

The Restraining Factor of Formic Acid:

Availability of a substitute:

The usage of alternative products for formic acid is expected to hinder the growth of the formic acid market. Substitutes used for formic acid are sulfuric acid, hydrochloric acid, trifluoroacetic acid, phosphoric acid, and urea sulfate. Vinegar, citric acid, and lactic acid are used in food as a preservative. The most used alternative for formic acid is urea sulfate. Urea sulfate is superior to formic acid because of its retan, color, and fatliquoring process. Urea sulfate is also cost-effective. Also, the harmful effect on the environment and humans is expected to hinder the market's growth. The market may be improved by raising product quality and superiority.

Impact of the COVID-19 pandemic on the Formic Acid market:

Due to the adverse effects on end-use industries like animal feed, leather, and textile, the formic acid market is severely affected during COVID-19. The pandemic adversely impacted the availability of animal feed. The import and export of animal feed were stopped or reduced as a result of the lockdown and the disruption of the supply chain, which had a detrimental effect on the formic acid market. Worldwide, the consumption of meat has declined resulting in a decline in the growth of animal feed as well as the formic acid market. Due to strict lockdown rules, employees started going back to their home countries, badly disrupting the distribution, supply networks, and production of formic acid. After the pandemic, all activities are resumed. Distribution, supply chain, and production of animal feed, as well as the formic acid market also returned to their pre-pandemic level. Introduction of Formic Acid

Formic acid is a colorless and fuming liquid with a pungent smell and has a chemical formula HCOOH. Formic acid is also known as methanoic acid, formylic acid, and aminic acid. It has several uses. Formic acid is primarily used as an antimicrobial and preservative agent and is majorly utilized to manufacture rubber and leather. Formic acid is found naturally in ants, bees, and insects. Wood ants produce a large quantity of formic acid. It is also found in some fruits. Formic acid can be used in cleaning, dyeing, and tanning. It is an additive for grease, animal feeds, and fungicides. It is an ingredient utilized in cosmetics and medicines. It is also used as a food pres...

The global formic acid market size was worth over USD 1.11 billion in 2024 and is anticipated to see a CAGR exceeding 5.5%, reaching over USD 2.23 billion by 2037. The leather and textile processing segment is predicted to reach a 44.1% share, fueled by demand for textile products requiring high-purity formic acid.

The size of the Asia-Pacific Formic Acid market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.63% during the forecast period.Formic acid, the most basic carboxylic acid, is one of the more versatile chemical compounds. It is found naturally in the venom of ants and bee stings; hence the name, from the Latin word meaning "ant.".Formic acid is mainly utilized in the Asia-Pacific region for leather tanning and dyeing purposes in the textile industry. It also serves as a preservative and an antibacterial agent in livestock feeds to cut down on spoilage and disease. More importantly, formic acid is a feedstock in several chemicals, including formaldehyde and acetic acid.Asia-Pacific formic acid market, due to its increasing demand from sectors like textile, agriculture, chemicals, and so on is a leading force. Increasing urbanization and growing disposable incomes in the region help drive demand for consumer goods, pushing up demand for formic acid in intermediate production processes. As long as the region continues its trend of economic growth and industrialization, demand will only continue to grow from there. Recent developments include: October 2022: Petroliam Nasional Berhad (PETRONAS) acquired Perstop, a leading specialty chemicals company and a producer of formic acid headquartered in Sweden, to expand its business in the specialty chemicals industry., February 2022: Gujarat Narmada Valley Fertilizers & Chemicals Limited announced plans to invest INR 30-40 billion (~USD 364.61- 486.15 million) in the next 3-4 years. It is to expand the plant capacities of formic acid and concentrated nitric acid in India.. Key drivers for this market are: Growing Demand for Animal Feed and Silage Additives, Increasing Usage in Leather Tanning Industry; Other Drivers. Potential restraints include: Presence of Alternatives like Urea Sulfate, Other Restraints. Notable trends are: Growing Demand for Animal Feed and Silage Additives.

The Japan Formic Acid Market size was valued at USD 7.28 USD Million in 2023 and is projected to reach USD 9.33 USD Million by 2032, exhibiting a CAGR of 3.6 % during the forecast period. The Japanese formic acid market operates around the production and distribution of a colorless, smelly, liquid organic substance which is produced mainly from methanol and carbon monoxide. These two simple chemicals produce a single chemical when reacted together which is called formic acid. Formic acid will have health-giving functions ranging from preserving and killing bacteria in animal feed to coagulating for the rubber part of the industry and as a solvent for the dye used during the finishing of textiles. Moreover, it is not only used for the treatment of iron and steel but also utilized in leather tannage, electroplating, and pharmaceuticals. In the world market, formic acid will gain ground with growing interest in ensuring stable yields through feed additives or environmentally safe substitutes for conventional pesticides. On the other hand, bio-based formic acid originating from renewable sources is an evocative and at the same time convenient alternative to organic acid, as it complies with the growing demand for environmentally friendly production methods. With industrial streams reaching out for more environment-friendliness, the Japanese Formic Acid Market will be strongly positioned for positive change and further development in the following years. Key drivers for this market are: Rising Demand from Pharmaceutical Industry to Fuel Market Growth. Potential restraints include: Strict Regulations and High Toxic Levels May Hamper Market Growth. Notable trends are: Rising Demand for Safe Beauty and Personal Care Products to Offer New Market Growth Opportunities.

In 2024, the Qatari market for formic acid, its salts and esters increased by 71% to $152K, rising for the second year in a row after four years of decline. Overall, consumption recorded a pronounced curtailment. As a result, consumption attained the peak level of $98M. From 2019 to 2024, the growth of the market remained at a lower figure.

The Formic Acid Marketsize was valued at USD 2.6 Billion in 2023 and is projected to reach USD 4.21 by 2032, exhibiting a CAGR of 12.8 % during the forecast period. Formic acid is a chemical compound that is symbolized by HCOOH and is consequently classified as the simplest of carboxylic acids, besides being a compound that is characterized by its pungent smell and acidic effects on other substances. It exists in two forms: It is further classified into two major categories namely natural and synthetic. Insects such as ants and bees possess natural formic acid in their venom and secretion, respectively. Looking at the large number of uses, synthetic formic acid is manufactured industrially. It also plays an important role in the production of leather, textiles, and rubber businesses. Further, when included as an ingredient in livestock feed its role comes in handy as a preservative and an antibiotic. It is also used in farming for the control of pests which makes it an active ingredient in some of the herbicides. Its characteristic of being a reducing agent together with the corrosive property also makes it to be utilized in some chemical processes and in compound cleaning within industries. Key drivers for this market are: Rising Demand for Electronic Products to Drive Growth . Potential restraints include: Development of Graphene Sheets to Hinder Growth.

Industrial Grade Formic Acid Market Outlook

The global market size of industrial grade formic acid was valued at approximately USD 620 million in 2023 and is projected to reach around USD 980 million by 2032, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period. This growth is attributed to multiple factors including increasing demand from various end-use industries such as leather, textiles, and agriculture, as well as the rising need for eco-friendly and efficient chemical processes. The industrial grade formic acid market is witnessing a robust growth trajectory driven by its wide range of applications and increasing adoption in emerging economies.

One of the key growth factors for the industrial grade formic acid market is its extensive use in the leather tanning industry. Formic acid plays a crucial role in the processing of leather by acting as a preservative and pH regulator. The growing demand for leather products worldwide, such as footwear, bags, and automotive interiors, is boosting the consumption of formic acid. Furthermore, the leather industry is undergoing technological advancements aimed at reducing environmental impact, which is propelling the adoption of formic acid as a safer alternative to traditional chemicals.

Additionally, the agricultural sector is emerging as a significant consumer of industrial grade formic acid. The acid is extensively used as a preservative and antibacterial agent in animal feed. As the global population increases, the demand for high-quality animal products is also rising, driving the use of formic acid in animal nutrition. Moreover, the shift towards organic farming practices and the need for sustainable agricultural inputs are contributing to the increased utilization of formic acid, further fueling market growth.

Another important growth driver is the application of formic acid in the textile industry for dyeing and finishing processes. The acid acts as a pH regulator, ensuring color consistency and quality in textiles. With the fashion and apparel industry expanding globally, there is a rising demand for high-quality textiles, thereby increasing the consumption of formic acid. Additionally, the growing trend of fast fashion and the surge in e-commerce platforms are further augmenting the market growth as they drive the need for efficient and rapid textile processing methods.

Regionally, the Asia Pacific region holds a dominant share in the industrial grade formic acid market, driven by the presence of large manufacturing bases, especially in China and India. The region's robust industrial growth, coupled with favorable government policies promoting manufacturing activities, is boosting the demand for formic acid. Additionally, the growing population in these countries is driving the need for agricultural products, further increasing formic acid consumption. North America and Europe are also significant markets, with established industries and stringent environmental regulations pushing for the adoption of eco-friendly chemicals.

Concentration Analysis

In terms of concentration, the industrial grade formic acid market can be segmented into 85%, 90%, 94%, and others. The 85% concentration segment holds a significant share of the market due to its widespread use across various applications such as leather tanning, textile finishing, and chemical synthesis. This concentration level provides a balanced combination of effectiveness and cost-efficiency, making it a preferred choice among end-users. The versatility and moderate strength of 85% formic acid allow it to meet the requirements of diverse industrial processes without compromising on performance.

The 90% concentration segment is also gaining traction, particularly in applications where a higher purity of formic acid is required. Industries such as pharmaceuticals and food processing often demand higher concentrations for specific processes, contributing to the growth of this segment. The increased focus on quality and safety standards in these industries is driving the adoption of 90% formic acid. Additionally, the ability of higher concentration formic acid to act as a strong reducing agent is beneficial in various chemical synthesis procedures, further boosting its demand.

The 94% concentration segment caters to specialized applications that require highly concentrated formic acid. This segment is relatively niche but is growing steadily due to its use in advanced chemical synthesis and research laboratories. The high purity level of 94% formic acid makes it suitable for precision pro

Explore the factors influencing the formic acid market in 2023, including supply-demand dynamics, geopolitical influences, and sustainability trends. Learn how these elements shape pricing and impact industries such as agriculture and textiles, with prices ranging from $500 to $1100 per ton depending on concentration and region.

Formic Acid Market Outlook 2032

The global formic acid market size was USD 2.0 Billion in 2023 and is projected to reach USD 4.5 Billion by 2032 formic acid, expanding at a CAGR of 9.7% during 2024–2032. The market growth is attributed to the increasing usage of formic acid for rubber and agricultural purposes.



Formic acid, a vital chemical compound, is witnessing a significant surge in demand across various industries. The increasing need for preservatives in the food and beverage industry, coupled with the growing use of formic acid in leather production, is driving this upward trend. Moreover, the rising demand for renewable energy sources is also contributing to the expansion of the market.

Formic acid's versatility and effectiveness make it a preferred choice in numerous applications, from agriculture to textiles, rubber, and pharmaceuticals. Its role as a coagulating agent in rubber production and as a reducing agent in textile processing is further propelling the market.

Impact of Artificial Intelligence (AI) on Formic Acid Market

Artificial Intelligence has a positive impact on the formic acid market, reshaping its dynamics and growth trajectory. AI's integration into the formic acid industry streamlines production processes, enhances efficiency, and reduces operational costs.



Advanced AI algorithms analyze market trends, predict demand fluctuations, and assist in strategic decision-making. AI-powered automation in formic acid production reduces human errors and increases output, leading to higher profit margins. Furthermore, AI's predictive capabilities help in forecasting potential supply chain disruptions, enabling companies to mitigate risks proactively.

Formic Acid Market Dynamics

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