The “Global Formic Acid Market 2017-2021” report has been added to Research and Markets’ offering.
The global formic acid market to grow at a CAGR of 4.26% during the period 2017-2021.
Global Formic Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is direct syntheses of formic acid in acidic media. The increasing global focus on rising carbon dioxide (CO2) levels in the atmosphere have led to changes in CO2 products. The market is witnessing the emergence of a direct CO2 hydrogenation process into formic acid by employing a homogeneous ruthenium catalyst. This process is carried out in dimethyl sulphoxide (DMSO) and as an aqueous solution without the presence of additives.
According to the report, one driver in the market is rising demand for formic acid as a preservative. The brilliant preservation capabilities of formic acid make it an ideal a silage preservative. Silage refers to green fodder or grass that is stored to be used as animal feed during winter months. The aim of making silage is to support the silage material with no or minimum nutrient loss. To facilitate this process, formic acid is extensively employed. However, it is a common practice to use molasses to provide energy for the fermentation of lactic acid and to assist the silage making process. But the addition of formic acid to the silage material positively impacts the process of fermentation.
Further, the report states that one challenge in the market is presence of cost-effective substitutes. Although formic acid finds application in a wide spectrum of applications, its high cost has paved the way for cost-effective substitutes, which are threatening the growth of the global formic acid market.
Some of the emerging cost-effective substitutes for formic acid include peptides and microflora enhancers. Potassium sorbate, sodium sorbate, and acetic acid also pose a considerable threat of substitution to formic acid, when used as a preservative. Potassium sorbate, as a salt of sorbic acid, plays an important role as a food preservative, even though studies suggest that formic acid is a much better preservative.
Key Vendors:
– BASF
– Feicheng Acid Chemicals
– GNFC
– Perstorp
– Eastman Chemical Company
Other Prominent Vendors:
– Alfa Aesar, Thermo Fisher Scientific
– Jinan Petrochemical Group
– Merck
– Polioli
– Rashtriya Chemicals and Fertilizers
– LUXI GROUP
– Shanxi Province Yuanping Chemicals
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation by End-User Industry
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers and Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/lrjmq6/global_formic?w=3