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1390179

全球甲酸市场 - 2023-2030

Global Formic Acid market - 2023-2030

出版日期: 2023年12月05日 | 出版商:

DataM Intelligence | 英文 201 Pages | 商品交期: 约2个工作天内

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简介目录

概述

全球甲酸市场在2022年达到11亿美元，预计2030年将达到14亿美元，2023-2030年预测期间CAGR为3.7%。

甲酸是化学工业的重要组成部分，用于生产多种产品，例如颜料、药物和溶剂。这些行业的发展有助于部分满足甲酸不断增长的需求。甲酸被认为比其他几种物质更环保。在可能成为更永续替代品的情况下，甲酸越来越受欢迎。

农业使用甲酸。农业使用甲酸。作为动物饲料中的抗生素和防腐剂，化学甲酸对于维持动物的健康和促进动物的生长至关重要。随着世界人口的增加，食品消费量不断增加，导致需要改进和提高农业生产方法，这反过来又增加了对甲酸的需求。

亚太地区是全球甲酸市场的成长地区之一，占全球甲酸市场份额的1/3以上，亚太地区位于中国、印度等多个全球最大的农业经济体。农业中常使用动物饲料防腐剂和甲酸等农药。更多粮食生产和农业扩张的必要性推动了该地区的甲酸需求。

动力学

增加作为医药中间体的用途

在医学上，使用85%浓度的甲酸治疗寻常疣是一种成功、经济、安全的选择，副作用少，依从性高。因此，甲酸在多种药物（包括酰胺比林、维生素 B 等）的生产中充当药物中间体。全球麻疹疫情的爆发正在推动对酰胺比林药物的需求。

根据联合国儿童基金会最新资料，与2021年同期相比，2022年前两个月全球麻疹病例增加。美国疾病管制与预防中心也预测，2021年将有5,760例、5,613例麻疹病例。索马利亚、奈及利亚和印度有4,178 例麻疹病例。

因此，对医药中间体的需求不断增长，以满足对酰胺比林、维生素 B 等药物的更高需求。预计甲酸消耗量将增加，这将推动未来几年的市场扩张。

扩大皮革和纺织工业

由于这些特性，甲酸被用于染色、鞣製和其他製程。因此，它非常适合皮革和纺织业。纺织和皮革工业的扩张得益于纺织业外国投资增加以及新纺织和皮革生产设施建设等因素。

例如，孟加拉蒙拉出口加工区（EPZ）在中资企业喜和纺织科技孟加拉有限公司投资1,289万美元的帮助下，很快将拥有服装製造业。该项目将于2023年完成开发。

根据欧洲共同体国家製革商和修整商协会联合会统计，欧盟也控制着全球约56%的皮革鞣製市场。由于皮革和纺织业的不断增加，甲酸工业也在不断增长。

变动原料成本

甲酸市场无疑受到原材料成本波动的极大限制。甲酸的生产通常涉及甲醇羰基化过程，其中甲醇和一氧化碳作为主要原料。某些基本成分的成本会显着影响甲酸的整体生产成本。

原材料成本上涨可能会给甲酸生产商带来维持有竞争力的价格的压力，从而可能对其利润率产生影响。价格对原物料价格变化的敏感度凸显了供应链管理和成本削减策略在甲酸产业的重要性。

严格的规定

儘管甲酸已经控制了许多替代品的市场，但限制其使用的法规正在限制该行业的扩张。例如，甲酸是一种具有腐蚀性的化学物质，当它接触到眼睛、肺部和其他器官时，可能会导致严重的健康问题。此外，根据欧盟 CLP00 统一分类和标籤系统，这种物质可能会导致严重的皮肤烧伤和眼睛损伤。

此外，该物质在 REACH 註册中被公司归类为食用危险、吸入有毒、损害器官、可燃和造成严重眼睛损伤。如果与硫酸混合，甲酸是导致一氧化碳中毒的非常致命的原因。因此，这些限制限制了甲酸市场的扩张。

Overview

Global Formic Acid Market reached US$ 1.1 billion in 2022 and is expected to reach US$ 1.4 billion by 2030, growing with a CAGR of 3.7% during the forecast period 2023-2030.

A crucial component of the chemical industry, formic acid is used to create a wide range of goods, such as pigments, medicines and solvents. The development of these sectors helps to partially meet the rising demand for formic acid. Formic acid is considered to be more environmentally friendly than several other substances. For situations where it could be a more sustainable substitute, formic acid is growing in popularity.

The agriculture industry uses formic acid. The agriculture industry uses formic acid. For an antibiotic and preservative in animal feed, chemical formic acid is vital for maintaining the health and increasing the growth of animals. Consumption of food products is rising as the world's population increases, leading to a need for improved and more productive methods of agriculture, which in turn increases the demand for formic acid.

Asia-Pacific is among the growing regions in the global formic acid market covering more than 1/3rd of the market and Asia-Pacific is located in multiple of the world's largest agricultural economies, such as China and India. Animal feed preservatives and pesticides like formic acid are frequently utilized in agriculture. The necessity for more food production and the expansion of agriculture has pushed formic acid demand in the area.

Dynamics

Increasing Use as a Pharmaceutical Intermediate

In medicine, the use of formic acid with an 85% concentration is a successful, cost-effective and safe treatment option for common warts with few adverse effects and high compliance. As a result, formic acid serves as a pharmaceutical intermediary in the production of several drugs, including amidopyrin, vitamin B and others. The global outbreak of measles is driving up demand for amidopyrin medications.

According to the latest UNICEF data, there was an increase in measles cases globally in the initial two months of 2022 compared to the same time in 2021. The Centres for Disease Control and Prevention also forecasted that in 2021, there will be, 5,760, 5,613 and 4,178 cases of measles in Somalia, Nigeria and India.

As a result, there is a rising demand for pharmaceutical intermediates to address the heightened requirement for medications like amidopyrin, vitamin B and others. Formic acid consumption is anticipated to increase as a result, which will fuel market expansion in the approaching years.

Expanding Leather and Textile Industries

Formic acid is employed in dyeing, tanning and other processes because of these characteristics. It is therefore perfect for the leather and textile industries. The expansion of the textile and leather industries is being aided by elements including rising foreign investment in the textile sector and the construction of new textile and leather production facilities.

For instance, the Mongla Export Processing Zone (EPZ) in Bangladesh will soon have a garment manufacturing industry thanks to an investment of US$ 12.89 million from the China-owned business Xihe Textile Technology Bangladesh Limited. The project will be finished in its development by 2023.

According to the Confederation of National Associations of Tanners and Dressers of the European Community, the European Union also controls around 56% of the world's leather tanning market. Because of the increasing leather and textile sectors, the formic acid industry is growing.

Variable Raw Material Costs

The market for formic acid is certainly extremely limited by the volatility of raw material costs. The production of formic acid typically involves the methanol carbonylation process, where methanol and carbon monoxide serve as the primary raw materials. The cost of certain essential components can significantly impact the overall production expenses of formic acid.

Rising raw material costs can put pressure on formic acid producers to maintain competitive prices, which might therefore have an impact on their profit margins. The price sensitivity to changes in raw material prices highlights how crucial supply chain management and cost-cutting tactics are in the formic acid sector.

Stringent Regulations

The regulation that limits its usage is limiting the industry's expansion, even though formic acid has controlled the market for many of its alternatives. For instance, formic acid is a chemical that is corrosive and when it comes into contact with the eyes, lungs and other organs, it may cause serious health issues. In addition, this substance can cause severe skin burns and eye damage, according to the CLP00 harmonized classification and labeling system for the European Union.

Additionally, this substance is categorized as being dangerous if eaten, toxic if breathed, damaging to organs, combustible and causing significant eye damage by companies in their REACH registrations. If mixed with sulfuric acid, formic acid is a very deadly cause of carbon monoxide poisoning. Therefore, these limitations are restricting the market's expansion for formic acid.

Segment Analysis

The global formic acid market is segmented based on grade, production method, application, end-user and region.

Increasing Demand for Formic Acid in Agriculture due to Rising Agriculture Productivity

The agriculture segment is among the growing regions in the global formic acid market covering more than 1/3rd of the market. The efficiency of pesticides against pests is increased when formic acid and oxalic acid are combined. The results in effective crop protection, the preservation of animal feed and other advantages. Formic acid is commonly applied in agriculture as a result of these characteristics.

The expansion of the agriculture business depends on several variables, including the prohibition of antibiotics that promote growth in animal feed, rising agricultural productivity and others. For instance, the use of antibiotics that promote animal development in feed has been outlawed in several North American and European nations, including U.S., UK and others.

Additionally, the OECD-FOA Agriculture Forecast predicts that global agricultural production will reach 304,403.61 Tons by 2026. In order to conserve the feedstock for a long time, the use of organic compounds will rise due to the prohibitions and anticipated increases in agricultural output. The is expected to increase formic acid consumption, which would speed up market expansion in the future years.

Geographical Penetration

Expanding Demand for Formic Acid in Leather and Textile Sectors in Asia-Pacific

Asia-Pacific has had a major impact on the globally formic acid market because of very closely connected industries like leather, textiles and others to the region's economic growth. The growing textile industry of the region is expected to improve the market share of formic share up to 43.4% in the forecast period. Additionally, the Asia-Pacific agriculture industry is growing, mostly as an outcome of developments in food preservation methods aimed at improving food security as well as other contributing factors.

For instance, the output of food crops increased noticeably in the Asia-Pacific area between 2020 and 2021. The U.S. Department of Agriculture's statistics show this period experienced a large increase in the overall output of food crops. As opposed to the previous record of almost 998.8 million metric Tons, the output increased by more than 1026.7 million metric Tons or 2.8%. According to data from U.S. Department of Agriculture, there were 95,619 thousand cattle in China as of 2021, a 4.6% rise from the 91,380 thousand cattle there in 2016.

In 2011, there were 53,000 thousand beef cows in China as an entire nation. By 2021, there would be 53,400 thousand, a minor increase of about 1%. The Asia-Pacific's expanding livestock and agricultural industries are hence driving up formic acid consumption. Formic acid market growth is thus being accelerated by technology.

For instance, in July 2022, in an effort to greatly increase the region's production capacity, AB Agri developed a new 240-kilo-ton feed mill in Tongchuan City, Shaanxi Province, China. The second-largest factory in AB Agri China, the new 34,000 sq m facility has distinct manufacturing lines for swine and ruminant feeds.

COVID-19 Impact Analysis

The pandemic affected international supply systems, especially those in the chemical sector. Formic acid and associated compounds were produced and transported with delays as a result of lockdowns, travel restrictions and temporary facility shutdowns in several nations. The availability of formic acid for many sectors was impacted by the supply chain disruption, which led to shortages of supplies and logistical difficulties.

Demand changes for formic acid were also brought on by the epidemic. Due to lockdowns and lower consumer spending, certain formic acid-using businesses, such as leather and textiles, witnessed a decline in demand; however, other industries, like medicines and agriculture, reported a rise in demand.

For example, formic acid is used in the production of disinfectants and sanitizers, both of which were in high demand during the pandemic. The alteration in demand patterns compelled manufacturers to alter their manufacturing strategies. Price volatility in the formic acid market was caused by the disruption of supply systems and changing demand.

Formic acid and related chemicals' prices have occasionally gone up as a result of production cost increases and supply constraints. But as the pandemic spread, market dynamics changed and prices changed in response to shifting conditions of supply and demand. To negotiate these pricing swings, businesses across a range of industries had to carefully manage their procurement practices.

Russia-Ukraine War Impact Analysis

The supply chain for agricultural products may be affected by the situation in Ukraine, a large agricultural producer. Formic acid is employed in agriculture for several functions, including crop protection and the preservation of feed. Any disturbances in the agriculture industry may have an impact on formic acid consumption in a secondary way.

Additionally, if the conflict caused supply chain interruptions or economic penalties against Russia, a significant chemical manufacturer, it may affect the availability and cost of chemicals like formic acid on the international market. Market volatility for commodities is frequently caused by geopolitical turmoil.

Chemical formic acid is used in many industrial processes, such as the tanning of leather, the production of textiles and the production of chemicals. The price of producing formic acid may be impacted by sudden changes in the price of raw materials or energy sources brought on by geopolitical conflicts. The pricing and profitability of goods in sectors that use formic acid may be impacted by these price swings, which may change the dynamics of supply and demand.

By Grade

Less than 80% to 89.5%
89.5% to 90.5%
91.6% to 99%
Above 99%

By Production Method

Carbonylation of Methanol
Hydrolysis of Methyl Formate

By Application

Leather Tanning
Animal Feed & Silage Additives
Pharmaceutical Intermediate
Cleaning Agents
Preservatives
Dyeing
Latex
Others

By End-User

Agriculture
Leather
Textile and Apparels
Healthcare
- Amidopyrin
- Vitamin B
- Others
Rubber
Chemical
- Methanamide
- Diethyl Formamide
- Others
Paper
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
South America
- Brazil
- Argentina
- Rest of South America
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Middle East and Africa

Key Developments

On May 1, 2023, Indian Institute of Technology Guwahati researchers developed a catalyst that can release hydrogen gas from wood alcohol without producing any more carbon dioxide as a byproduct. The procedure yields formic acid, an important industrial chemical in addition to being simple and safe for the environment. As a result of this progress, methanol is a promising "Liquid Organic Hydrogen Carrier" (LOHC) and helps advance the idea of a hydrogen-methanol economy.
On July 13, 2022, Ingenza, a biotechnology company and Johnson Matthey are working in collaboration to manufacture formic acid from acquired industrial CO2 emissions for application in a variety of sectors, including agriculture and the pharmaceutical industry, as well as a possible feedstock for other bioprocesses. A useful chemical called formic acid, the most basic carboxylic acid, may be created by catalytically hydrogenating CO2. However, due to CO2's high degree of stability, activation barriers must be surmounted with a lot of energy.
On November 10, 2020, BASF increased the cost of formic acid and propionic acid. The price of formic acid in North America will increase by US$ 0.05 per pound.

Competitive Landscape

The major global players in the market include: BASF SE, Eastman Chemical Company, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Luxi Chemical Group Co Ltd., Perstorp Holdings AB. PT Sintas Kurama Perdana, Thermo Fisher Scientific, Spectrum Chemical Mfg. Corp., Lanxess AG and Alfa Chemistry .

Why Purchase the Report?

To visualize the global formic acid market segmentation based on grade, production method, application, end-user and region, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of formic acid market-level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Grade mapping available as Excel consisting of key Grades of all the major players.

The global formic acid market report would provide approximately 69 tables, 76 figures and 201 Pages.

Target Audience 2023

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Grade
3.2. Snippet by Production Method
3.3. Snippet by Application
3.4. Snippet by End-User
3.5. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Increasing Use as a Pharmaceutical Intermediate
  - 4.1.1.2. Expanding Leather and Textile Industries
- 4.1.2. Restraints
  - 4.1.2.1. Variable Raw Material Costs
  - 4.1.2.2. Stringent Regulations
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion

6. COVID-19 Analysis

6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. By Grade

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 7.1.2. Market Attractiveness Index, By Grade
7.2. Less than 80% to 89.5% *
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. 89.5% to 90.5%
7.4. 91.6% to 99%
7.5. Above 99%

8. By Production Method

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 8.1.2. Market Attractiveness Index, By Production Method
8.2. Carbonylation of Methanol*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Hydrolysis of Methyl Formate

9. By Application

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
9.2. Leather Tanning*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Animal Feed & Silage Additives
9.4. Pharmaceutical Intermediate
9.5. Cleaning Agents
9.6. Preservatives
9.7. Dyeing
9.8. Latex
9.9. Others

10. By End-User

10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
10.2. Agriculture*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Leather
10.4. Textile and Apparels
10.5. Healthcare
- 10.5.1. Amidopyrin
- 10.5.2. Vitamin B
- 10.5.3. Others
10.6. Rubber
10.7. Chemical
- 10.7.1. Methanamide
- 10.7.2. Diethyl Formamide
- 10.7.3. Others
10.8. Paper
10.9. Others

11. By Region

11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.2.7.1. U.S.
  - 11.2.7.2. Canada
  - 11.2.7.3. Mexico
11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.3.7.1. Germany
  - 11.3.7.2. UK
  - 11.3.7.3. France
  - 11.3.7.4. Russia
  - 11.3.7.5. Spain
  - 11.3.7.6. Rest of Europe
11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.4.7.1. Brazil
  - 11.4.7.2. Argentina
  - 11.4.7.3. Rest of South America
11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.5.7.1. China
  - 11.5.7.2. India
  - 11.5.7.3. Japan
  - 11.5.7.4. Australia
  - 11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Production Method
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User

12. Competitive Landscape

12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis

13. Company Profiles

13.1. BASF SE*
- 13.1.1. Company Overview
- 13.1.2. Production Method Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
13.2. Eastman Chemical Company
13.3. Gujarat Narmada Valley Fertilizers & Chemicals Limited
13.4. Luxi Chemical Group Co Ltd.
13.5. Perstorp Holdings AB
13.6. PT Sintas Kurama Perdana
13.7. Thermo Fisher Scientific
13.8. Spectrum Chemical Mfg. Corp.
13.9. Lanxess AG
13.10. Alfa Chemistry

LIST NOT EXHAUSTIVE

14. Appendix

14.1. About Us and Services
14.2. Contact Us

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