The Global Industrial Sodium Formate (HCOONa) Market was valued at USD 322.8 Million in 2024 and is projected to reach USD 433.7 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period (2024–2029). This growth is being driven by increasing demand from the leather tanning, oil & gas drilling, and de-icing industries, as well as the accelerating adoption of environmentally friendly alternatives across chemical processing and construction sectors.

As the chemical industry evolves toward more sustainable operations and green manufacturing practices, the focus shifts to the key producers who are driving innovation, efficiency, and cleaner production pathways. In this blog, we profile the Top 10 Companies in the Industrial Sodium Formate (HCOONa) Industry—a mix of chemical majors, specialty producers, and sustainability pioneers shaping the future of this essential industrial chemical.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-Purity Sodium Formate, Technical Grade Sodium Formate

BASF is a world-leading chemical company and a major producer of sodium formate, leveraging its global production network and advanced chemical synthesis capabilities. The company supplies high-purity grades for demanding applications in pharmaceuticals and specialty chemicals, alongside industrial grades for de-icing and drilling fluids.

Sustainability Initiatives:

• Integration of renewable feedstocks in production processes

• Commitment to carbon-neutral growth by 2050

• Development of eco-friendly chemical solutions for industrial customers

Download FREE Sample Report: Industrial Sodium Formate (HCOONa) Market – View in Detailed Research Report

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9️⃣ 2. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: Sodium Formate Crystals, High-Purity Sodium Formate

Perstorp specializes in specialty chemicals and is a significant producer of high-quality sodium formate. The company focuses on value-added applications and maintains strong positions in European and Asian markets.

Sustainability Initiatives:

• Production from sustainable raw materials

• Zero waste and carbon-neutral production roadmaps

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8️⃣ 3. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, China
Key Offering: Industrial Grade Sodium Formate, 98% Purity Sodium Formate

Luxi Chemical is one of China’s largest chemical producers and a dominant player in the sodium formate market. The company benefits from integrated production and competitive cost structures.

Sustainability Initiatives:

• Energy-efficient manufacturing processes

• Significant exporter to global markets

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7️⃣ 4. Koei Chemical Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: High-Purity Sodium Formate, Pharmaceutical Grade Sodium Formate

Koei Chemical is a prominent Japanese chemical manufacturer with a strong focus on organic chemicals and intermediates. It has established a reputation for consistent quality and reliable supply.

Sustainability Initiatives:

• Investment in green chemistry R&D

• Adherence to stringent environmental standards

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6️⃣ 5. Vertellus Holdings LLC

Headquarters: Indianapolis, Indiana, USA
Key Offering: Sodium Formate Powder, Technical Grade Sodium Formate

Vertellus is a leading specialty chemicals company focused on agriculture, nutrition, and industrial markets. The company produces sodium formate as part of its diverse chemical portfolio.

Sustainability Initiatives:

• Development of bio-based chemical alternatives

• Resource optimization and waste reduction programs

Download FREE Sample Report: Industrial Sodium Formate (HCOONa) Market – View in Detailed Research Report

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5️⃣ 6. Kanoria Chemicals & Industries Ltd.

Headquarters: Kolkata, India
Key Offering: Sodium Formate for Leather Tanning, De-icing Sodium Formate

Kanoria Chemicals is a major Indian chemical manufacturer with significant sodium formate production capacity. The company serves domestic and export markets across multiple industrial sectors.

Sustainability Initiatives:

• Implementation of cleaner production technologies

• Water conservation and effluent treatment initiatives

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4️⃣ 7. ALDER S.p.A.

Headquarters: Milan, Italy
Key Offering: High-Quality Sodium Formate, Industrial Grade Sodium Formate

ALDER is an Italian chemical company specializing in organic intermediates and fine chemicals. It maintains a strong presence in European specialty chemical markets.

Sustainability Initiatives:

• Focus on energy-efficient manufacturing

• Compliance with EU environmental regulations

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3️⃣ 8. Asian Paints Limited

Headquarters: Mumbai, India
Key Offering: Sodium Formate for Multiple Applications

Asian Paints, primarily known for paints and coatings, also produces sodium formate for various industrial applications through its chemical divisions.

Sustainability Initiatives:

• Sustainable sourcing of raw materials

• Environmentally responsible manufacturing practices

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2️⃣ 9. Jost Chemical Co.

Headquarters: Saint Louis, Missouri, USA
Key Offering: High-Purity Sodium Formate, USP Grade Sodium Formate

Jost Chemical specializes in high-purity mineral salts and metal compounds. The company produces pharmaceutical-grade sodium formate for specialized applications.

Sustainability Initiatives:

• Production of ultra-pure sodium formate for critical applications

• Quality control systems meeting pharmaceutical standards

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1️⃣ 10. Hawkins Inc.

Headquarters: Minneapolis, Minnesota, USA
Key Offering: Sodium Formate for Industrial and Specialty Applications

Hawkins is a specialty chemical company serving industrial, water treatment, and agricultural markets. The company distributes sodium formate across North America.

Sustainability Initiatives:

• Distribution of environmentally preferred products

• Focus on safe handling and storage solutions

Get Full Report Here: https://www.24chemicalresearch.com/reports/227448/global-industrial-sodium-formate-hcoona-forecast-market-2023-2029-598

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🌍 Outlook: The Future of Industrial Sodium Formate Is More Sustainable and Diversified

The industrial sodium formate market is undergoing significant transformation with evolving regulatory landscapes and increasing demand for green alternatives. The industry is developing environmentally friendly applications, optimizing production processes, and expanding into new market verticals.

📈 Key Trends Shaping the Market:

• Growing adoption in biodegradable de-icing formulations

• Regulatory pressure to reduce environmental impact in leather and textile processing

• Expansion into pharmaceutical intermediates and high-purity applications

• Increasing use as a reducing agent in chemical synthesis processes

Get Full Report Here: Industrial Sodium Formate (HCOONa) Market – View in Detailed Research Report

The companies listed above are not only supplying essential industrial chemicals—they’re pioneering the transition toward more sustainable industrial processes across multiple sectors.