India Formic Acid Market (2025-2031) Outlook | Companies, Share, Value, Analysis, Trends, Size, Revenue, Growth, Industry & Forecast
Market Forecast By Grade Type (0.75, 0.8, 0.85, 0.94, 0.99), By Application (Animal Feed, Leather Tanning, Textile Dyeing and Finishing, Intermediary in Pharmaceuticals, Other Applications) And Competitive Landscape
| Product Code: ETC083863 | Publication Date: Aug 2023 | Updated Date: Aug 2025 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Formic Acid Market Import Shipment Trend (2020-2024)
The India formic acid market import shipment demonstrated steady growth with a CAGR of 6.9% from 2020 to 2024. However, the growth rate between 2023 and 2024 slowed to 1.2%, indicating a stabilization in market expansion during the latter period.
India Formic Acid Market Synopsis
India formic acid market is estimated to reach USD 5.19 billion by 2031, expanding at a CAGR of 5.9%, driven by its wide application in leather tanning and textile industry for removal of grease and dirt from fabrics as well as in industrial cleaning chemicals used for removing oils and greases from machines during manufacturing activities. Rising preference towards cleanliness has further catalyzed the demand for formic acid across the country. Growing awareness about health & safety among workers coupled with stringent environmental regulations posed by India government are some of the other factors driving growth of India formic acid market over forecast period
Market Drivers
Factors such as rising preference towards cleanliness, growing awareness about health & safety among workers coupled with stringent environmental regulations posed by India government are some of major drivers anticipated to boost growth of India formic acid market over forecast period. In addition , increasing adoption in food processing applications due to its anti-bacterial properties is expected to create strong potentials for players operating in this sector.
Challenges of the Market
The availability and cost effectiveness of substitute products such as mineral acids poses a challenge for companies operating within this sector. Moreover, health hazards associated with prolonged exposure can limit its usage in certain segment which may hamper overall demand during upcoming years.
Key Players in the Market
Some key players operating in India Formic Acid Market include Nagase ChemteX Corporation , BASF SE , Akzo Nobel N V , Merck KGaA (EMD Group ) , DKS Co Ltd., Daishin Industry Co Ltd., Mitsui Chemicals Inc., DowDuPont Inc., Sumitomo Chemical Company Limited etc
Key Highlights of the Report:
- India Formic Acid Market Outlook
- Market Size of India Formic Acid Market, 2024
- Forecast of India Formic Acid Market, 2031
- Historical Data and Forecast of India Formic Acid Revenues & Volume for the Period 2021-2031
- India Formic Acid Market Trend Evolution
- India Formic Acid Market Drivers and Challenges
- India Formic Acid Price Trends
- India Formic Acid Porter's Five Forces
- India Formic Acid Industry Life Cycle
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Grade Type for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By 0.75 for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By 0.8 for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By 0.85 for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By 0.94 for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By 0.99 for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Animal Feed for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Leather Tanning for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Textile Dyeing and Finishing for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Intermediary in Pharmaceuticals for the Period 2021-2031
- Historical Data and Forecast of India Formic Acid Market Revenues & Volume By Other Applications for the Period 2021-2031
- India Formic Acid Import Export Trade Statistics
- Market Opportunity Assessment By Grade Type
- Market Opportunity Assessment By Application
- India Formic Acid Top Companies Market Share
- India Formic Acid Competitive Benchmarking By Technical and Operational Parameters
- India Formic Acid Company Profiles
- India Formic Acid Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the India Formic Acid Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the India Formic Acid Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Formic Acid Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Formic Acid Market Revenues & Volume, 2021 & 2031F |
3.3 India Formic Acid Market - Industry Life Cycle |
3.4 India Formic Acid Market - Porter's Five Forces |
3.5 India Formic Acid Market Revenues & Volume Share, By Grade Type, 2021 & 2031F |
3.6 India Formic Acid Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Formic Acid Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for formic acid in various industries such as agriculture, leather, textile, and pharmaceuticals due to its versatile applications |
4.2.2 Growing focus on sustainable practices and environmentally-friendly products, with formic acid being a key ingredient in green chemistry processes |
4.2.3 Government initiatives promoting the use of formic acid in various sectors to reduce carbon footprint and promote domestic manufacturing |
4.3 Market Restraints |
4.3.1 Fluctuations in raw material prices, such as methanol, which can impact the production cost of formic acid |
4.3.2 Intense competition from alternative organic acids and substitutes in the market |
4.3.3 Stringent regulations related to the production and usage of formic acid, impacting market growth and expansion |
5 India Formic Acid Market Trends |
6 India Formic Acid Market, By Types |
6.1 India Formic Acid Market, By Grade Type |
6.1.1 Overview and Analysis |
6.1.2 India Formic Acid Market Revenues & Volume, By Grade Type, 2021-2031F |
6.1.3 India Formic Acid Market Revenues & Volume, By 0.75, 2021-2031F |
6.1.4 India Formic Acid Market Revenues & Volume, By 0.8, 2021-2031F |
6.1.5 India Formic Acid Market Revenues & Volume, By 0.85, 2021-2031F |
6.1.6 India Formic Acid Market Revenues & Volume, By 0.94, 2021-2031F |
6.1.7 India Formic Acid Market Revenues & Volume, By 0.99, 2021-2031F |
6.2 India Formic Acid Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Formic Acid Market Revenues & Volume, By Animal Feed, 2021-2031F |
6.2.3 India Formic Acid Market Revenues & Volume, By Leather Tanning, 2021-2031F |
6.2.4 India Formic Acid Market Revenues & Volume, By Textile Dyeing and Finishing, 2021-2031F |
6.2.5 India Formic Acid Market Revenues & Volume, By Intermediary in Pharmaceuticals, 2021-2031F |
6.2.6 India Formic Acid Market Revenues & Volume, By Other Applications, 2021-2031F |
7 India Formic Acid Market Import-Export Trade Statistics |
7.1 India Formic Acid Market Export to Major Countries |
7.2 India Formic Acid Market Imports from Major Countries |
8 India Formic Acid Market Key Performance Indicators |
8.1 Adoption rate of formic acid in key industries such as agriculture, leather, and pharmaceuticals |
8.2 Investment in research and development for new applications and formulations of formic acid |
8.3 Environmental impact assessments and compliance with sustainability standards for formic acid production and usage |
9 India Formic Acid Market - Opportunity Assessment |
9.1 India Formic Acid Market Opportunity Assessment, By Grade Type, 2021 & 2031F |
9.2 India Formic Acid Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Formic Acid Market - Competitive Landscape |
10.1 India Formic Acid Market Revenue Share, By Companies, 2024 |
10.2 India Formic Acid Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
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