The Global Methanoic Acid Market was valued at USD 254.66 Million in 2023 and is projected to reach USD 314.86 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.60% during the forecast period (2024–2029). This steady growth is driven by rising demand from key end-use industries like agriculture, leather & textile processing, and rubber manufacturing, alongside the increasing adoption of formic acid as a sustainable preservative and acidifying agent.

As industries worldwide pivot towards more efficient and eco-friendly chemical solutions, the role of key methanoic acid producers becomes increasingly critical. In this blog, we profile the Top 10 Companies in the Methanoic Acid Industry—a group of chemical giants and specialized producers shaping the supply and innovation landscape for this versatile organic acid.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-purity Formic Acid (85%, 90%, 94%, 99%)

BASF is a global leader in the chemical industry and a major producer of methanoic acid. The company operates one of the world’s largest integrated production sites for formic acid, supplying a wide range of grades to meet diverse industrial requirements. Their global distribution network ensures reliable supply to customers across continents.

Innovation and Sustainability Initiatives:

• Investment in energy-efficient production technologies

• Development of sustainable applications in animal feed preservation

• Commitment to reducing carbon footprint across the value chain

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9️⃣ 2. Luxi Chemical Group Co., Ltd. (LUXI)

Headquarters: Liaocheng, Shandong, China
Key Offering: Formic Acid (85%, 90%), Derivative Chemicals

Luxi Chemical is one of China’s leading chemical enterprises with a significant production capacity for methanoic acid. The company has a strong domestic market presence and is expanding its global footprint, leveraging integrated production processes for cost competitiveness.

Innovation and Sustainability Initiatives:

• Expansion of production capacity to meet growing Asian demand

• Focus on wastewater treatment and emission control technologies

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8️⃣ 3. Eastan Chemical Inc.

Headquarters: Zhejiang, China
Key Offering: Industrial Grade Formic Acid, Technical Grade Formic Acid

Eastan Chemical specializes in the production and distribution of formic acid, serving both domestic Chinese and international markets. The company has built a reputation for consistent quality and competitive pricing, making it a key supplier for various industrial applications.

Innovation and Sustainability Initiatives:

• Quality control systems ensuring product consistency

• Strategic partnerships with distributors in emerging markets

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7️⃣ 4. Rashtriya Chemicals and Fertilizers Ltd. (RCF)

Headquarters: Mumbai, Maharashtra, India
Key Offering: Formic Acid for Agricultural and Industrial Use

RCF, a leading Indian public sector enterprise, is a significant producer of methanoic acid in South Asia. The company leverages its expertise in fertilizer production to serve the agricultural sector, where formic acid is used as a preservative and silage additive.

Innovation and Sustainability Initiatives:

• Development of agro-chemical formulations incorporating formic acid

• Initiatives to support sustainable farming practices

Download FREE Sample Report:
Global Methanoic Acid Market – View in Detailed Research Report

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6️⃣ 5. Tianyuan Group Co., Ltd.

Headquarters: Zibo, Shandong, China
Key Offering: Formic Acid, Sodium Formate, Other Formates

Tianyuan Group is a major Chinese chemical manufacturer with substantial production capabilities for methanoic acid and its derivatives. The company serves diverse industries including leather tanning, textile processing, and rubber production with its comprehensive product portfolio.

Innovation and Sustainability Initiatives:

• Vertical integration in formic acid derivative production

• Export-oriented growth strategy with global quality standards

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5️⃣ 6. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC)

Headquarters: Bharuch, Gujarat, India
Key Offering: Technical Grade Formic Acid, Agricultural Formulations

GNFC is a prominent Indian chemical and fertilizer company with significant methanoic acid production capacity. The company’s strategic location in Gujarat’s chemical hub provides logistical advantages for both domestic distribution and exports.

Innovation and Sustainability Initiatives:

• Implementation of cleaner production technologies

• Development of value-added formic acid applications

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4️⃣ 7. Feicheng Acid Chemicals Co., Ltd.

Headquarters: Feicheng, Shandong, China
Key Offering: Various Concentrations of Formic Acid

Feicheng Acid Chemicals is a specialized producer focused on organic acids, with methanoic acid as a key product line. The company has established itself as a reliable supplier in the competitive Chinese chemical market with consistent product quality.

Innovation and Sustainability Initiatives:

• Continuous process optimization for production efficiency

• Expansion of production capacity to capitalize on market growth

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3️⃣ 8. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: High-Purity Formic Acid, Specialized Derivatives

Perstorp is a leading specialty chemicals company with a strong presence in the European methanoic acid market. The company focuses on high-value applications and offers technical support for customers requiring specialized formulations.

Innovation and Sustainability Initiatives:

• Development of sustainable chemical solutions

• Focus on circular economy principles in chemical production

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2️⃣ 9. Shandong Rongyue Chemical Co., Ltd.

Headquarters: Zibo, Shandong, China
Key Offering: Industrial Grade Formic Acid, Chemical Intermediates

Shandong Rongyue Chemical has emerged as a significant player in China’s methanoic acid industry, with growing production capacity and market share. The company serves both domestic and international markets with competitive pricing and reliable quality.

Innovation and Sustainability Initiatives:

• Capacity expansion projects to meet increasing demand

• Investment in quality management systems

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1️⃣ 10. Chongqing Chuandong Chemical (Group) Co., Ltd.

Headquarters: Chongqing, China
Key Offering: Formic Acid, acetic acid, and other organic chemicals

Chongqing Chuandong Chemical is a key producer in Western China, with integrated production facilities for methanoic acid and related chemicals. The company’s strategic location supports its distribution network across China and into neighboring Asian markets.

Innovation and Sustainability Initiatives:

• Modernization of production facilities for improved efficiency

• Development of regional distribution partnerships

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Global Methanoic Acid Market – View in Detailed Research Report

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🌍 Outlook: The Future of Methanoic Acid Is Versatile and Sustainable

The methanoic acid market is evolving to meet the demands of a changing industrial landscape. While traditional applications continue to drive volume, the industry is increasingly focused on sustainable production methods and innovative applications that leverage formic acid’s unique properties.

📈 Key Trends Shaping the Market:

• Growing demand from the animal feed industry as a natural preservative

• Increasing adoption in leather tanning as an eco-friendly alternative

• Expansion of production capacity in Asia-Pacific regions

• Research into formic acid as a hydrogen carrier for energy storage

Get Full Report Here:
Global Methanoic Acid Market – View in Detailed Research Report

The companies listed above are not only supplying essential chemicals to global industries—they’re driving innovation and sustainability across multiple sectors, from agriculture to advanced materials.