Formic Acid Market

The global formic acid market size reached 971.6 Kilo Tons in 2025. Looking forward, IMARC Group estimates the market to reach 1,234.8 Kilo Tons by 2034, exhibiting a CAGR of 2.70% during 2026-2034. Asia-Pacific currently dominates the market, holding a significant market share of over 37.6% in 2025. The expanding pharmaceutical and biotechnological industry, the globalization of markets and increased international trade, continual advancements in formic acid production technologies, and ongoing research and development efforts are some of the major factors propelling the market.

Some of the key drivers in the formic acid market are its growing application in agriculture as a preservative and antibacterial agent for livestock feed. An increasing demand for ecofriendly and biodegradable chemicals in leather tanning, textile dyeing and rubber production further fuels market growth. Growing awareness about its role in reducing silage spoilage and enhancing animal health supports its adoption. Advances in manufacturing processes and applications in pharmaceuticals, food preservatives, and energy production are among the factors driving this market's steady growth. The formic acid market is also witnessing significant advancements in production technologies aiming to enhance efficiency and sustainability. For instance, in June 2024, AIST researchers in collaboration with the University of Tsukuba developed a highly efficient method to synthesize formic acid directly from carbon dioxide and hydrogen using an iridium catalyst in hexafluoroisopropanol.

Key drivers in the United States formic acid market include its increasing use as a preservative and antibacterial agent in livestock feed driven by increasing focus on animal health and productivity. For instance, in June 2024, Kemin Industries introduced FORMYL an advanced feed acidifier for swine health in the U.S. This non-antibiotic solution utilizes formic acid and encapsulated calcium formate to enhance gut health and reduce pathogens like E. coli promoting improved digestion and profitability in swine production. The rising product demand in the leather, textile and rubber industries for environment friendly chemicals drives the market. Growing applications in oilfield operations, along with stringent environmental regulations favoring biodegradable chemicals further support adoption. The market is further driven by the improvements in production technology and an increasing awareness of sustainable industrial practices.

Formic Acid Market Trends:

Increasing Demand for Preservatives and Antibacterial Agents in Food Industry

Formic acid having natural antibacterial properties has extensively been used as a preservative and antibacterial agent in different food products including processed meats, bakery items, and beverages. According to industry reports, 74% of households in the urban India surveyed consume biscuits and related items weekly. Consumers are becoming more health-conscious and look for products having extended shelf life free from spoilage and harmful pathogens. Consequently, food manufacturers are resorting to formic acid as a viable means of extending the freshness and safety of their products. Formic acid is safer than synthetic preservatives such as sodium benzoate or potassium sorbate since it is naturally occurring in some plants and animals. The future growth of the formic acid market is anticipated to be led by this move towards natural and sustainable preservatives.

Expanding Leather and Textile Industries

Formic acid is used in tanning leather, dyeing of textiles, and finishing operations. In tanning leather, it is very significant in the process of preserving animal hides and the removal of hair and epidermis that can be used in the production of leather products. In the textile industry formic acid is used in dyeing and printing operations in which it assists in fixing dyes to the fabrics and helps in color fastness. The growth of the fashion industry along with the increasing preference of consumers towards leather and textile products has led to the increasing formic acid market demand. According to the report published by India Brand Equity Foundation, the textiles and apparel market in India is projected to grow at a 10% CAGR to reach USD 350 Billion by 2030. India and China are emerging economies where the leather and textile industries have grown considerably and have contributed to the expansion of the formic acid market.

Expanding Applications in Chemical Industry

Formic acid is a highly adaptable compound that plays a vital role as a fundamental component in the creation of various chemicals and materials. It is utilized in producing dyes, pharmaceuticals, leather, and textiles. The importance of formic acid as a reducing agent and catalyst in numerous chemical processes has led to its growing use in organic synthesis. The chemical sector's ongoing demand for cost effective and sustainable raw materials makes formic acid an appealing option. Research indicates that India's chemicals market valued at USD 220 billion in 2023 is anticipated to expand to USD 383 billion by 2030. Its environmentally friendly characteristics such as being easily biodegradable enhance its attractiveness to industries focused on minimizing their ecological impact. The formic acid market value is expected to rise as industries adopt it for eco-friendly applications, supported by regulatory policies promoting sustainable chemical manufacturing and rising demand in agriculture, leather, and textile sectors.

Formic Acid Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global formic acid market, along with forecasts at the global, regional, and country levels from 2026-2034. The market has been categorized based on type, application, and end use.

Analysis by Type:

• Grade 85%
• Grade 94%
• Grade 99%
• Others

Grade 85% stand as the largest type in 2025 holding around 52.9% of the market. In sectors such as agriculture, 85% concentrated formic acid is often utilized as a preservative in animal feed, essentially blocking the growth of harmful microorganisms and extending the feed's shelf life. It is widely utilized in the leather and textile industries, where it plays a vital role in the tanning and dyeing processes, ensuring the quality and longevity of the finished products. Additionally, it can be diluted further or utilized as a precursor for producing other derivatives of formic acid, making it a cost-effective option for various uses. Furthermore, this concentration is compatible with many chemical processes across diverse industries, which contributes to its broad acceptance. The 85% formic acid grade is also beneficial in the pharmaceutical and chemical fields, where it acts as a key component in the synthesis of various organic compounds. Its stability and purity make it an ideal selection for research and production activities, leading to a steady demand in these sectors.

Analysis by Application:

• Animal Feed and Silage Additives
• Leather Tanning
• Textile Dying and Finishing
• Intermediary in Pharmaceuticals
• Others

Animal feed and silage additives leads the market with around 35.8% of market share in 2025. Animal feed and silage additives dominate the formic acid market due to their vital role in preserving feed quality and enhancing animal health. Formic acid acts as a potent antibacterial agent reducing the growth of harmful microbes in silage thus preventing spoilage and nutrient loss. It also helps in maintaining the pH levels in silage ensuring optimal fermentation and a longer storage life. Animal feed formic acid enhances digestion and absorption of nutrients in livestock. Due to its ecofriendly nature and its regulatory approval in different regions makes it widely adopted making it a first preference for efficient and sustainable animal farming. The formic acid market report highlights the increasing demand for animal feed and silage additives, driven by livestock industry growth, rising protein consumption, and stringent regulations on antibiotic alternatives in animal nutrition.

Analysis by End Use:

• Agriculture
• Leather and Textile
• Rubber
• Chemical and Pharmaceutical
• Dyeing
• Animal Feed
• Others

Agriculture leads the market with around 45.0% of market share in 2025. Agriculture is the largest end-use sector for the formic acid market due to its wide application in animal feed preservation, silage production and crop protection. Formic acid acts as an effective antibacterial agent in silage preventing spoilage and maintaining nutrient quality which supports livestock health and productivity. Its use as an enhancer of pesticides and herbicides in crop protection ensures improved agricultural yields with increased resistance to pests and lowered chemical needs. The biodegradable and environmental-friendly character of formic acid aligns well with the increase in emphasis toward sustainable farming methods. The formic acid market value is expected to grow significantly, driven by its rising adoption in agriculture for sustainable farming practices, improved livestock nutrition, and enhanced crop protection solutions.

Analysis by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

In 2025, Asia-Pacific accounted for the largest market share of over 37.6%. The agricultural sector in Asia Pacific is substantial and diverse making it a significant driver of market. As many countries in the region have large populations and robust agricultural industries there is a consistent need for high-quality animal feed and efficient silage preservation methods. Formic acid's role as a preservative, acidifier and pesticide aligns perfectly with the agricultural practices of this region thereby fueling its widespread usage. Asia Pacific is home to some of the world's largest and fastest-growing economies including China and India. The presence of a well-established chemical industry infrastructure in several countries has enabled efficient formic acid production and export. The formic acid market price is influenced by factors such as global demand-supply dynamics, production costs and prevailing economic conditions in key manufacturing regions.

Key Regional Takeaways:

North America Formic Acid Market Analysis

The North America formic acid market is driven by its versatile applications across agriculture, leather and industrial sectors. In agriculture formic acid is widely used as a silage additive and feed preservative ensuring improved feed quality and shelf life while enhancing livestock productivity. The region's robust leather and textile industries further contribute to market growth with formic acid playing a key role in leather tanning and textile dyeing processes. Its use in rubber manufacturing particularly in latex coagulation aligns with the growing demand from the automotive and industrial sectors. The increasing focus on sustainability and ecofriendly practices supports the adoption of formic acid as a greener alternative to harsher chemicals in industrial applications.

United States Formic Acid Market Analysis

In 2025, the United States captured 88.00% of revenue in the North American market. The United States formic acid market is driven by several key factors reflecting its versatile applications across industries. One of the primary drivers is its increasing use in the agricultural sector Formic acid is heavily used as a silage additive and animal feed preservative due to its antibacterial and antifungal properties that ensure longer shelf life and improved feed quality. With the growing demand for high-quality livestock products, the need for effective feed preservatives has greatly increased formic acid consumption. Another critical driver is the growing demand in the leather and textile sectors. Formic acid is used as an excellent tanning agent in the leather sector and as a dye-fixing agent in textiles that meet the huge demand for strong and good-quality leather goods and textiles both in the domestic and export markets. As reported by the National Council of Textile Organization (NCTO) U.S. textile and apparel shipments summed up to be USD 64.8 Billion in 2023. Chemical's use in rubber production particularly in latex coagulation relates to the automobile and industrial segment growth. Moreover, the awareness of ecofriendly and sustainable solutions has been strengthening market growth. In addition, growing bio-based formic acid production is further augmenting its popularity as a green chemical.

Europe Formic Acid Market Analysis

The European formic acid market is propelled by its diverse applications across key industries and a strong emphasis on sustainability. One of the primary drivers is the region's advanced agricultural sector. Formic acid is widely used as a silage additive and feed preservative ensuring better preservation and quality of livestock feed. The rising demand for high-quality dairy products along with stringent regulations on animal nutrition and food safety is impelling the market growth. As per the reports, in 2023, 2.9 Million tonnes of dairy powder products were produced in the EU from 19.2 Million tonnes of skimmed milk and 5.1 Million tonnes of whole milk. Europe’s well-established leather and textile industries also play a crucial role in the market's growth. Formic acid is an essential chemical in leather tanning and textile dyeing processes. With European countries recognized as major hubs for high-end leather goods and fashion the demand for efficient and ecofriendly processing agents like formic acid remains strong. Its application in rubber manufacturing particularly in latex coagulation aligns with the growth of the automotive sector in the region is bolstering the market growth. Environmental consciousness is another significant driver. Formic acid is regarded as a green and sustainable alternative to harsher chemicals in cleaning agents and industrial processes.

Latin America Formic Acid Market Analysis

The Latin America formic acid market is driven by its growing use across agriculture, leather and industrial sectors. Agriculture is the primary driver for this market as formic acid is widely used as a silage additive and feed preservative to improve livestock productivity and feed storage. According to the research report, Brazilian agribusiness exports reached a record in 2023, at USD 166.55 Billion. The increasing demand for quality animal products along with the growth of livestock farming is further propelling the market growth. The leather industry in the region especially in countries such as Brazil and Argentina is another major contributor. Formic acid is used in leather tanning which caters to the growing domestic and export demand for high-quality leather goods. Its use in rubber processing and cleaning products also supports the industrial sector.

Middle East and Africa Formic Acid Market Analysis

The Middle East and Africa (MEA) formic acid market is driven by its wide-ranging applications in agriculture, leather, and industrial sectors. In agriculture formic acid is used as a silage additive and feed preservative that supports the growth of livestock and dairy farming in the region. According to IMARC Group, the market of agriculture in Saudi Arabia has reached USD 130 Billion in 2024. This is because of the increasing demand for efficient animal nutrition solutions particularly in countries with significant agricultural output. The growth is also backed by the leather industry of the region specifically countries such as South Africa and Ethiopia. Formic acid is a crucial agent in leather tanning addressing the call for good quality products both in the local and export markets. The industrial sector also benefits through its applications in rubber processing and as part of cleaning agents.

Competitive Landscape:

The formic acid market is characterized by intense competition, with leading players emphasizing innovation, sustainability, and the expansion of their product portfolios to enhance their positions in the market. Companies are investing in research and development to enhance production efficiency and explore bio-based alternatives aligning with growing environmental concerns. Strategic partnerships, acquisitions and collaborations are common strategies to expand geographic presence and application areas. The market benefits from advancements in catalytic technologies improving synthesis methods and reducing production costs. Players are also targeting diverse end use industries such as agriculture, leather, textiles and chemicals to broaden their consumer base.

The report provides a comprehensive analysis of the competitive landscape in the formic acid market with detailed profiles of all major companies, including:

• BASF SE
• Chongqing Chuandong Chemical Group Co. Ltd
• Eastman Chemical Company
• Gujarat Narmada Valley Fertilizers & Chemicals
• Luxi Group Co. Ltd
• Perstorp Holding AB (PETRONAS Chemicals International B.V.)
• Shandong Acid Chemicals Co. Ltd
• Thermo Fisher Scientific

Key Questions Answered in This Report

1.What is formic acid?

2.How big is the global formic acid market?

3.What is the expected growth rate of the global formic acid market during 2026-2034?

4.What are the key factors driving the global formic acid market?

5.What is the leading segment of the global formic acid market based on type?

6.What is the leading segment of the global formic acid market based on application?

7.What is the leading segment of the global formic acid market based on end use?

8.What are the key regions in the global formic acid market?

9.Who are the key players/companies in the global formic acid market? Show more