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 robust growth trajectory is propelled by escalating demand from the leather and textile industry, its expanding role in animal feed preservation, and increasing applications within the pharmaceutical and chemical synthesis sectors, particularly in emerging economies.

As industries worldwide pivot towards more efficient and specialized chemical solutions, the production of high-purity anhydrous formic acid has become a critical niche. In this blog, we profile the Top 10 Companies in the Anhydrous Formic Acid Industry—globally recognized chemical giants and specialized producers who are setting the standards for quality, innovation, and supply chain reliability.

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🔟 1. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: High-Purity Anhydrous Formic Acid (Pharmaceutical & Industrial Grades)

Eastman is a leading global specialty materials company with a strong foothold in the acetic acid derivatives market, including formic acid. Their advanced production technologies ensure a consistent supply of high-purity anhydrous formic acid, catering to demanding applications in pharmaceuticals and fine chemicals.

Innovation & Market Strategy:

• Focus on high-value, specialty chemical applications

• Strong R&D capabilities for developing new derivatives and applications

• Global distribution network serving diverse industrial sectors

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9️⃣ 2. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: Anhydrous Formic Acid (Feed Grade, Industrial Grade)

Perstorp is a global leader in specialty chemicals, renowned for its high-quality formic acid production. The company has a significant market presence in Europe and Asia, with a focus on sustainable and efficient production processes for applications in animal nutrition and industrial preservatives.

Innovation & Market Strategy:

• Leading producer of formic acid-based animal feed preservatives (e.g., ProPhorce™)

• Commitment to sustainable production through the “Zero Carbon Footprint” roadmap

• Strategic investments in capacity expansion to meet growing global demand

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

Headquarters: Mumbai, Maharashtra, India
Key Offering: Anhydrous Formic Acid (Technical Grade, Agricultural Grade)

RCF is a prominent Indian public sector undertaking and a major producer of fertilizers and industrial chemicals. Its formic acid production is integral to serving the domestic agricultural and leather processing industries, with a growing export footprint.

Innovation & Market Strategy:

• Strategic focus on serving the price-sensitive Indian market

• Expansion of production capacity to reduce import dependency

• Development of applications for the domestic textile and leather sectors

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

Headquarters: Bharuch, Gujarat, India
Key Offering: Anhydrous Formic Acid (Technical & Feed Grades)

GNFC is one of India’s leading chemical and fertilizer companies, operating one of the country’s largest formic acid plants. The company leverages its integrated chemical complex to produce cost-competitive anhydrous formic acid for both domestic consumption and international markets.

Innovation & Market Strategy:

• Backward integration into key raw materials ensures cost leadership

• Strong distribution network across India and key export markets in Asia and Africa

• Focus on product quality and consistency for industrial customers

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6️⃣ 5. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, Shandong, China
Key Offering: Anhydrous Formic Acid (Various Grades for Industrial Use)

Luxi Chemical is a major Chinese chemical conglomerate with a diverse portfolio that includes fertilizers, methanol, and organic chemicals like formic acid. The company is a key supplier in the Asia-Pacific region, benefiting from large-scale, efficient production facilities.

Innovation & Market Strategy:

• Large-scale production capacity leveraging China’s chemical manufacturing infrastructure

• Competitive pricing strategy for bulk industrial buyers

• Expansion into downstream derivatives to capture more value

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Anhydrous Formic Acid Market – View in Detailed Research Report

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5️⃣ 6. Shandong Acid Technology Co., Ltd.

Headquarters: Zibo, Shandong, China
Key Offering: High-Purity Anhydrous Formic Acid (Pharmaceutical & Electronic Grades)

As a specialized producer, Shandong Acid Technology focuses on high-purity acid products, including premium-grade anhydrous formic acid. The company serves niche markets that require stringent quality control, such as pharmaceutical intermediates and electronics manufacturing.

Innovation & Market Strategy:

• Specialization in ultra-high-purity chemical production

• Focus on high-margin, specialty application segments

• Investment in advanced purification and quality assurance technologies

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

Headquarters: Chongqing, China
Key Offering: Anhydrous Formic Acid (Industrial and Feed Grades)

Chongqing Chuandong is a significant chemical producer in Southwest China, with a strong presence in the basic organic chemicals sector. The company’s formic acid production supports regional industries, including leather tanning and animal feed manufacturing.

Innovation & Market Strategy:

• Serves as a key regional supplier within China’s vast industrial landscape

• Strategic location provides logistical advantages for serving inland markets

• Continuous process optimization to enhance production efficiency

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3️⃣ 8. Shijiazhuang Taihe Chemical Co., Ltd.

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Anhydrous Formic Acid (Standard Industrial Grade)

Taihe Chemical is a well-established manufacturer of organic acids and other fine chemicals in Northern China. The company has built a reputation for reliable supply and consistent product quality, serving a broad base of industrial customers.

Innovation & Market Strategy:

• Reliable supply chain and consistent product quality for industrial users

• Focus on building long-term relationships with distributors and end-users

• Adaptation to evolving environmental and safety regulations in China

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2️⃣ 9. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-Purity Anhydrous Formic Acid (Specialty & Pharmaceutical Grades)

BASF, the world’s largest chemical producer, has a significant, albeit more specialized, role in the formic acid market. The company leverages its global scale and technological expertise to produce high-purity anhydrous formic acid for demanding applications, often as part of integrated value chains.

Innovation & Market Strategy:

• Focus on high-value specialty applications rather than bulk commodity markets

• Strong emphasis on sustainability and responsible product stewardship

• Utilization of its global R&D network to develop new applications and formulations

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1️⃣ 10. Other Key Regional Players

Composition: A collective of established chemical manufacturers across Europe, North America, and Asia.
Key Offering: Anhydrous Formic Acid for regional and niche markets.

Beyond the major global players, a crucial segment of the market consists of regional producers and specialty chemical companies. These firms often cater to specific local industries, provide custom formulations, or serve as secondary suppliers, ensuring market diversity and supply resilience.

Collective Market Role:

• Provide supply chain diversification and regional market expertise

• Often focus on customized solutions and smaller batch production

• Play a vital role in the overall competitiveness and dynamism of the global market

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Anhydrous Formic Acid Market – View in Detailed Research Report

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🧪 Outlook: The Future of Anhydrous Formic Acid is Specialized and Sustainable

The anhydrous formic acid market is evolving beyond its traditional roles. While its use in leather tanning and animal feed remains foundational, the industry is increasingly driven by innovation in green chemistry, pharmaceutical intermediates, and high-value industrial processes.

📈 Key Trends Shaping the Market:

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

• Expansion in pharmaceutical applications for drug synthesis and purification

• Increasing environmental regulations favoring formic acid as a “greener” alternative to harsher acids in various processes

• Technological advancements in production processes to improve yield and purity while reducing energy consumption

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Anhydrous Formic Acid Market – View in Detailed Research Report

The companies profiled above are not only supplying a critical industrial chemical—they are enabling advancements across multiple sectors by providing a versatile, high-purity building block for modern manufacturing and synthesis.

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