Formic Acid Market Growth 2019-2024

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Formic Acid Market Growth 2019-2024
Published on 6 July 2019
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Formic acid Market
Overview
Formic acid (also called methanoic acid) is a
colorless liquid with a sharp odor. It is also
the simplest carboxylic acid. The chemical
formula is HCOOH or HCO2H. Formic acid is an
environmentally acceptable and highly efficient
organic acid.Globally, the global production was
1015 K MT in 2016 and it will reach 1217 K MT in
2022. In addition, the production regions
of Formic acid are mainly located in China, US,
EU and India. China was the leader production
regions, which achieved about 48 volume market
share in 2016. In 2015, BASF bullied the first
plant of formic acid in Geismar, Louisiana. It is
the only formic acid production plant in USA.As
for the region consumption, China remained the
largest market for Formic acid in the world, with
34 market share consumption in 2016. 
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Formic acid Market
Forecast 2019- 2024
Expected to reach XX million USD by the end of
2024
xx
Forecast year
xx
xx
2019
xx
xx
xx
Base year
CAGR 1.3 (2019 - 2024)
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Formic acid Market
By Region
North America
Europe
China
Rest of the world
India
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