The Global Anhydrous Formic Acid Market was valued at USD 25.8 Million in 2025 and is projected to reach USD 37.8 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period (2024–2034). This growth is primarily driven by escalating demand from the leather and textile industry, its expanding role as a preservative and antibacterial agent in animal feed, and increasing applications within the pharmaceutical and chemical synthesis sectors.

As industries worldwide seek efficient, high-purity chemical intermediates, anhydrous formic acid (containing less than 0.3% water) has emerged as a critical component. Its unique properties make it indispensable for processes requiring precision and minimal moisture interference. In this blog, we profile the Top 10 Companies in the Anhydrous Formic Acid Industry—a mix of global chemical giants and specialized manufacturers shaping the supply chain and driving technological advancements.

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🔟 1. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: High-Purity Anhydrous Formic Acid, Specialty Chemicals

Eastman is a leading global specialty materials company that produces a wide range of chemicals, including high-purity anhydrous formic acid. Their product is renowned for its consistency and is supplied to various industries, leveraging Eastman’s robust global distribution network and technical expertise.

Key Market Initiatives:

• Focus on sustainable production processes

• Strong R&D investment in chemical intermediates

• Strategic partnerships with downstream industries like pharmaceuticals and agrochemicals

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9️⃣ 2. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: Anhydrous Formic Acid, Feed Grade Formic Acid, Derivative Chemicals

Perstorp is a world-leading specialty chemicals company with a strong focus on niche segments. It is a major producer of formic acid and its derivatives, offering high-quality anhydrous grades tailored for specific customer applications in Europe and Asia.

Key Market Initiatives:

• Leading position in the European formic acid market

• Commitment to the “One Planet” sustainability framework

• Development of eco-friendly chemical solutions

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8️⃣ 3. Rashtriya Chemicals and Fertilizers Ltd. (RCF)

Headquarters: Mumbai, Maharashtra, India
Key Offering: Anhydrous Formic Acid, Fertilizers, Industrial Chemicals

RCF is a prominent Indian public sector undertaking and a key player in the domestic chemical market. The company manufactures anhydrous formic acid, serving the needs of the Indian leather tanning, textile, and pharmaceutical industries, and is integral to the country’s chemical self-sufficiency goals.

Key Market Initiatives:

• Expansion of production capacity to meet growing domestic demand

• Focus on serving the agricultural and industrial sectors

• Government-backed initiatives for chemical industry growth

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7️⃣ 4. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC)

Headquarters: Bharuch, Gujarat, India
Key Offering: Anhydrous Formic Acid, Fertilizers, Methanol

GNFC is a leading Indian integrated chemical company with a significant market share in formic acid production. The company’s anhydrous formic acid is a key product line, supplied to various end-use industries both within India and for export markets.

Key Market Initiatives:

• Backward integration for cost-effective production

• Strong distribution network across India

• Investment in technology for product quality enhancement

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Anhydrous Formic Acid Market – View in Detailed Research Report

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6️⃣ 5. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, Shandong, China
Key Offering: Anhydrous Formic Acid, Chemical Fertilizers, Coal Chemicals

Luxi Chemical Group is one of China’s largest chemical fertilizer enterprises and a significant producer of industrial chemicals, including anhydrous formic acid. The company leverages its large-scale production capabilities to serve the vast Asian market.

Key Market Initiatives:

• Large-scale, cost-competitive production facilities

• Dominant position in the Asia-Pacific chemical market

• Focus on energy-efficient and environmentally friendly manufacturing

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5️⃣ 6. Shandong Acid Technology Co., Ltd.

Headquarters: Shandong Province, China
Key Offering: High-Purity Anhydrous Formic Acid, Organic Acids

Shandong Acid Technology is a specialized manufacturer focused on the production of various organic acids. The company has carved a niche in producing high-purity anhydrous formic acid, catering to clients with stringent quality requirements in pharmaceuticals and specialty chemicals.

Key Market Initiatives:

• Specialization in high-purity acid production

• Growing export-oriented business model

• Investment in advanced purification technologies

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4️⃣ 7. Chongqing Chuandong Chemical (Group) Co., Ltd.

Headquarters: Chongqing, China
Key Offering: Anhydrous Formic Acid, Synthetic Ammonia, Methanol

Chongqing Chuandong Chemical is a major chemical producer in Southwest China. The company has a comprehensive product portfolio that includes anhydrous formic acid, serving regional industrial demand and contributing significantly to the local economy.

Key Market Initiatives:

• Strategic location serving the growing Western China market

• Integrated production from basic chemicals to derivatives

• Focus on operational safety and environmental compliance

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3️⃣ 8. Shijiazhuang Taihe Chemical Co., Ltd.

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Anhydrous Formic Acid, Pharmaceutical Intermediates

Shijiazhuang Taihe Chemical is a chemical manufacturer with a focus on products for the pharmaceutical and fine chemical industries. The company produces anhydrous formic acid that meets the high purity standards required by these sensitive applications.

Key Market Initiatives:

• Targeted supply to the pharmaceutical sector

• Emphasis on quality control and regulatory adherence

• Development of customized chemical solutions

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2️⃣ 9. Basel Chemie

Headquarters: Maharashtra, India
Key Offering: Anhydrous Formic Acid, Specialty Chemicals

Basel Chemie is an established Indian chemical supplier known for its range of industrial and specialty chemicals. The company is a reliable source of anhydrous formic acid within the Indian subcontinent, serving diverse industrial clients.

Key Market Initiatives:

• Strengthening distribution channels across India

• Building long-term relationships with industrial customers

• Ensuring consistent supply chain management

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1️⃣ 10. Tuba Enterprises

Headquarters: Mumbai, Maharashtra, India
Key Offering: Anhydrous Formic Acid, Chemical Distribution

Tuba Enterprises operates as a key distributor and supplier of chemicals, including anhydrous formic acid, in the Indian market. The company plays a vital role in connecting manufacturers with end-users in various industries, ensuring product availability and logistical support.

Key Market Initiatives:

• Extensive distribution and supply chain network

• Focus on customer service and technical support

• Adapting to dynamic market demands and regional requirements

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🌍 Outlook: The Future of Anhydrous Formic Acid is Application-Led and Sustainable

The anhydrous formic acid market is experiencing a steady evolution, moving beyond traditional applications into new, high-growth areas. While the leather and textile industry remains the largest consumer, the shift towards sustainable animal husbandry and green chemical synthesis is creating significant new opportunities.

📈 Key Trends Shaping the Market:

• Rising demand for natural preservatives in animal feed, replacing antibiotics

• Expansion in pharmaceutical API manufacturing, particularly in Asia

• Growing adoption in rubber and oilfield chemicals as an efficient acidifier

• Increased production capacity in China and India, making Asia-Pacific the dominant market

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Anhydrous Formic Acid Market – View in Detailed Research Report

The companies listed above are not only supplying a critical chemical intermediate—they are enabling innovation across multiple industries, from preserving our food supply to manufacturing life-saving drugs and high-quality materials.