The Global Industrial Grade Formic Acid Market was valued at USD 281 Million in 2025 and is projected to reach USD 409 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period (2024–2030). This robust growth is fueled by rising demand from key sectors such as agriculture, where it is used as a preservative and antibacterial agent, and from the leather and textile industries, which rely on it for dyeing and tanning processes.

As global manufacturing and agricultural outputs continue to expand, the focus sharpens on the chemical producers who are driving innovation, efficiency, and sustainable production of this essential acid. In this blog, we profile the Top 10 Companies in the Industrial Grade Formic Acid Industry—a mix of global chemical giants and specialized manufacturers shaping the supply chains of numerous downstream sectors.

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🔟 1. BASF SE

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

BASF is a global leader in the chemical industry and a major producer of formic acid. The company leverages its integrated production sites and extensive research capabilities to supply high-quality industrial grade formic acid to a diverse range of customers worldwide. Their product is critical for applications in animal nutrition, silage preservation, and as a chemical intermediate.

Key Market Strengths:

• Integrated value chain from synthesis to distribution

• Strong focus on sustainable production processes

• Global supply network ensuring reliable delivery

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9️⃣ 2. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: Industrial Grade Formic Acid (85%, 90%)

Eastman is a prominent global specialty materials company that produces and markets formic acid. Its products are utilized in a variety of industrial applications, including leather tanning, textile processing, and as a pH adjuster in various formulations. Eastman’s strong technical support and commitment to quality make it a key supplier in the Americas and beyond.

Key Market Strengths:

• Diverse application expertise across multiple industries

• Strategic positioning in the North American market

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8️⃣ 3. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: Formic Acid 85%, High-purity grades

Perstorp is a leading specialty chemicals company with a strong focus on sustainable solutions. Their formic acid production is part of a broader portfolio of organic acids, serving the animal feed, agriculture, and chemical synthesis markets. Perstorp is known for its innovative approaches to reducing the environmental footprint of chemical production.

Key Market Strengths:

• Specialization in organic acids and feed preservatives

• Commitment to sustainability and circular economy principles

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

Headquarters: Mumbai, India
Key Offering: Formic Acid 85%

RCF is a leading Indian public sector enterprise and a significant producer of formic acid. The company caters primarily to the domestic agricultural and industrial markets, playing a vital role in India’s growing chemical sector. Its production is closely linked to the nation’s fertilizer and agro-chemical industries.

Key Market Strengths:

• Strategic importance in the Indian agricultural sector

• Government-backed initiatives supporting domestic production

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Industrial Grade Formic Acid Market – View in Detailed Research Report

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

Headquarters: Bharuch, Gujarat, India
Key Offering: Formic Acid 85%

GNFC is a major Indian chemical and fertilizer company with substantial formic acid production capacity. The company has a strong market presence in Asia and exports to various international markets. GNFC’s integrated manufacturing complex allows for efficient production and cost competitiveness.

Key Market Strengths:

• Large-scale, integrated chemical production facility

• Strong export orientation and global distribution network

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5️⃣ 6. Luxi Chemical Group Co., Ltd.

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

Luxi Chemical is one of China’s largest chemical producers and a key player in the global formic acid market. The company boasts significant production capacity and serves both domestic and international customers. Its scale and cost-efficiency make it a formidable competitor in the Asian market.

Key Market Strengths:

• Massive production scale and cost leadership

• Dominant position in the Asia-Pacific region

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4️⃣ 7. Shandong Acid Technology Co., Ltd.

Headquarters: Shandong, China
Key Offering: Various grades of Industrial Formic Acid

As the name suggests, Shandong Acid Technology specializes in the production of acids, with formic acid being a core product. The company focuses on technological advancement and quality control to meet the specific requirements of different industrial applications, from rubber coagulation to pharmaceutical intermediates.

Key Market Strengths:

• Specialized expertise in acid manufacturing technologies

• Flexible production for customized grade requirements

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3️⃣ 8. Chongqing Chuandong Chemical (Group) Co., Ltd.

Headquarters: Chongqing, China
Key Offering: Formic Acid 85%

Chongqing Chuandong Chemical is a significant chemical manufacturer in Western China. The company produces a range of basic chemicals, with formic acid being an important product line. It serves the growing industrial base in its region and contributes to China’s overall chemical output.

Key Market Strengths:

• Strategic location serving Western China’s industrial corridor

• Diversified chemical portfolio providing operational stability

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2️⃣ 9. Shijiazhuang Taihe Chemical Co., Ltd.

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Industrial Grade Formic Acid

Shijiazhuang Taihe Chemical is a specialized chemical producer with a focus on organic acids. The company has established itself as a reliable supplier in the domestic market and is expanding its international footprint. Its focus on quality and customer service underpins its market position.

Key Market Strengths:

• Established reputation for product quality and reliability

• Growing export business to Southeast Asia and other regions

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1️⃣ 10. Other Key Regional Players

Beyond the top nine, the market includes several other important regional players who contribute significantly to local and niche markets. These companies often cater to specific application segments or geographical areas, ensuring a diversified and competitive global supply landscape. Their agility and focus allow them to serve customer needs that may be overlooked by larger producers.

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🌍 Outlook: The Future of Industrial Grade Formic Acid Is Driven by Sustainability and Diversification

The industrial grade formic acid market is experiencing a significant transformation. While traditional applications in agriculture and leather tanning remain the volume drivers, the industry is increasingly influenced by sustainability mandates and the exploration of new, high-value applications.

📈 Key Trends Shaping the Market:

• Growing demand for organic acid-based preservatives as alternatives to antibiotics in animal feed

• Expansion of the rubber industry in Asia, driving demand for formic acid as a coagulant

• Increasing use in pharmaceutical intermediates and specialty chemical synthesis

• Technological advancements in production processes aimed at improving yield and reducing environmental impact

Get Full Report Here:
Industrial Grade Formic Acid Market – View in Detailed Research Report

The companies listed above are not only supplying a critical industrial chemical—they are enabling the growth and innovation of a wide array of global manufacturing sectors.