NEW YORK , Sept. 28, 2023 /PRNewswire/ — The formic acid market is expected to grow by $485.04 million from 2022 to 2027. Additionally, the market is projected to grow at a CAGR of 4.88% during the forecast period, Technavio reports. Increasing demand for formic acid as a preservative is significantly boosting the formic acid market. However, factors such as the availability of cost-effective alternatives may hamper the market growth. The market is segmented by distribution channels (offline and online), end users (agriculture and animal feed, leather, textiles, chemicals and pharmaceuticals, etc.) and geographical location (Asia Pacific, North America, Europe, Middle East and Africa). . South America). We provide detailed analysis of 20 companies operating in the Formic Acid market, including BASF SE, Eastman Chemical Co, GNFC Ltd., Joshi Agrochem Pharma Pvt. Ltd., Kakdiya Chemicals, Kemira Oyj, Luxi Chemical Group Co., Ltd., Merck KGaA, MERU CHEM PVT. LTD., NuGenTec, PETRONAS Chemicals Group Berhad, Pon Pure Chemicals Group, ProChem Inc., RXChemicals, Shandong Acid Technology Co. ., Ltd., Shandong Jiuan Chemical Co., Ltd., Shijiazhuang Taihe Chemical Co., Ltd., Thermo Fisher Scientific Co., Ltd., Tokyo Chemical Industry Co., Ltd. and Vizag Chemical International. The report provides the latest market analysis. To find out the exact height difference and year-over-year growth rate, request a free sample report.
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        The offline business is expected to witness significant growth during the forecast period. Formic acid is available from industrial chemical processing suppliers, distributors and manufacturers and is distributed through offline channels. Companies specializing in the distribution of chemicals that require the use of fission acid in their production processes, such as the agricultural, leather and textile industries, often supply this material to other industries. Additionally, offline distribution of formic acid requires close coordination between manufacturers, wholesalers, retailers and end users to ensure a continuous supply of chemicals while maintaining safety standards and regulations. full. Hence, these factors are expected to drive segment growth over the forecast period.
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       Detailed information on factors that will accelerate the growth of the formic acid market over the next five years.
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