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市場調查報告書

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1390179

全球甲酸市場 - 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: 約2個工作天內

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簡介目錄

概述

全球甲酸市場在2022年達到11億美元，預計2030年將達到14億美元，2023-2030年預測期間CAGR為3.7%。

甲酸是化學工業的重要組成部分，用於生產多種產品，例如顏料、藥物和溶劑。這些行業的發展有助於部分滿足甲酸不斷成長的需求。甲酸被認為比其他幾種物質更環保。在可能成為更永續替代品的情況下，甲酸越來越受歡迎。

農業使用甲酸。農業使用甲酸。作為動物飼料中的抗生素和防腐劑，化學甲酸對於維持動物的健康和促進動物的生長至關重要。隨著世界人口的增加，食品消費量不斷增加，導致需要改進和提高農業生產方法，這反過來又增加了對甲酸的需求。

亞太地區是全球甲酸市場的成長地區之一，佔全球甲酸市場佔有率的1/3以上，亞太地區位於中國、印度等多個全球最大的農業經濟體。農業中常使用動物飼料防腐劑和甲酸等農藥。更多糧食生產和農業擴張的必要性推動了該地區的甲酸需求。

動力學

增加作為醫藥中間體的用途

在醫學上，使用85%濃度的甲酸治療尋常疣是一種成功、經濟、安全的選擇，副作用少，依從性高。因此，甲酸在多種藥物（包括醯胺比林、維生素 B 等）的生產中充當藥物中間體。全球麻疹疫情的爆發正在推動對醯胺比林藥物的需求。

根據聯合國兒童基金會最新資料，與2021年同期相比，2022年前兩個月全球麻疹病例增加。美國疾病管制與預防中心也預測，2021年將有5,760例、5,613例麻疹病例。索馬利亞、奈及利亞和印度有4,178 例麻疹病例。

因此，對醫藥中間體的需求不斷成長，以滿足對醯胺比林、維生素 B 等藥物的更高需求。預計甲酸消耗量將增加，這將推動未來幾年的市場擴張。

擴大皮革和紡織工業

由於這些特性，甲酸被用於染色、鞣製和其他製程。因此，它非常適合皮革和紡織業。紡織和皮革工業的擴張得益於紡織業外國投資增加以及新紡織和皮革生產設施建設等因素。

例如，孟加拉蒙拉出口加工區（EPZ）在中資企業喜和紡織科技孟加拉有限公司投資1,289萬美元的幫助下，很快將擁有服裝製造業。該項目將於2023年完成開發。

根據歐洲共同體國家製革商和修整商協會聯合會統計，歐盟也控制著全球約56%的皮革鞣製市場。由於皮革和紡織業的不斷增加，甲酸工業也在不斷成長。

變動原料成本

甲酸市場無疑受到原料成本波動的極大限制。甲酸的生產通常涉及甲醇羰基化過程，其中甲醇和一氧化碳作為主要原料。某些基本成分的成本會顯著影響甲酸的整體生產成本。

原料成本上漲可能會給甲酸生產商帶來維持有競爭力的價格的壓力，從而可能對其利潤率產生影響。價格對原物料價格變化的敏感度凸顯了供應鏈管理和成本削減策略在甲酸產業的重要性。

嚴格的規定

儘管甲酸已經控制了許多替代品的市場，但限制其使用的法規正在限制該行業的擴張。例如，甲酸是一種具有腐蝕性的化學物質，當它接觸到眼睛、肺部和其他器官時，可能會導致嚴重的健康問題。此外，根據歐盟 CLP00 統一分類和標籤系統，這種物質可能會導致嚴重的皮膚燒傷和眼睛損傷。

此外，該物質在 REACH 註冊中被公司歸類為食用危險、吸入有毒、損害器官、可燃和造成嚴重眼睛損傷。如果與硫酸混合，甲酸是導致一氧化碳中毒的非常致命的原因。因此，這些限制限制了甲酸市場的擴張。

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