Boston, MA -- (SBWIRE) -- 05/21/2014 -- Formic Acid Market by Types (Grades of 85%, 94%, 99%, and others) by Application (Agriculture, Leather & Textile, Rubber, Chemical & Pharmaceuticals, & others) & by Geography - Global Trends, Forecasts to 2019

The report covers the important formic acid global markets. It further divides the market on the basis of applications, geography, and its types. The market data for these types is given with respect to volume (metric tons) and value ($thousand). The market value of formic acid was estimated to be $ 593,500 thousand in 2012 and is projected to grow with a CAGR of about 3.8% from 2014 to 2019. The data mentioned in the report are based on the global demand for the formic acid.

View Full Report Details and Table of Contents

The total market for global formic acid has been analyzed based on the Porter's five forces model. This gives an idea about the current proceedings in the industry at the commercial level. The study provides the value chain analysis with respect to formic acid raw materials, manufacturers, and end users. The value chain describes the key contributors to the materials market at different stages from product development to end use. It represents the top players which are contributing to the global formic acid industry.

The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as ban of antibiotics promoters in silage preservation and animal feed, emerging market for different applications, availability of cheaper raw materials; and restraints such as higher toxicity levels in higer grades of formic acid, declining production capacities in Europe due to high priced of natural gas, and current economic condition of Europe. The economic slowdown in Europe and the U.S. also affected the economy of other developed countries that are of key importance for the commercial success of new materials and its end-user market.

The global formic acid market is also classified based on different applications. The important applications include live feedstock, textile & leather, rubber coagulant, chemical & pharmaceutical and others. The leather & textile and rubber industries are expected to show rapid growth in the future.

The key companies in this market are BASF SE (Germany), Perstorp AB (Sweden), Feicheng Acid Chemicals Co. Ltd. (China), Gujarat Narmada Valley Fertilizers Co. Ltd. (India), Taminco Corporation (Belgium), and others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments in expansion of plant capacities, followed by acquisitions were the most preferred strategies by the top players in the year 2012 & 2013 that are driving the demand of formic acid. Their strategy to capture the market in developing economies includes expansions and agreements.

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Materials research reports at Fast Market Research

You may also be interested in these related reports:

- Bio-Polyamide, Specialty Polyamide & Precursors Market - Global Trends & Forecasts to 2019
- Renewable Chemicals Market - Alcohols (Ethanol, Methanol), Biopolymers (Starch, PLA, PHA, Polyethylene & Others), Platform Chemicals & Others - Global Trends & Forecasts to 2018
- Propionic Acid & Derivatives Market By Applications (Animal Feed & Grain Preservatives, Food Preservatives, Herbicides, Cellulose Acetate Propionate) & Geography - Global Trends & Forecasts To 2018
- Probiotics Market - Global Trends & Forecasts to 2019
- Carbohydrase Market - Global Trends & Forecasts to 2019
- Biostimulants Market by Active Ingredients (Humic Acid, Fulvic Acid, Amino Acid, Seaweed Extracts), Applications (Foliar, Soil & Seed), Crop Types (Row Crops, Fruit & Vegetable, Turf & Ornamental) & Geography - Global Trends & Forecasts To 2018
- Polyvinylidene Fluoride (PVDF) Market - Trends Forecasts to 2019
- Industrial Flue Gas Treatment Systems & Services Market - Global Trends & Forecasts to 2019
- Flue Gas Desulfurization Systems & Services Market - Global Trends & Forecasts to 2019
- Feed Acidifiers Market - Global Trends & Forecasts To 2018