The Global Sodium Formate Market was valued at USD 330 Million in 2023 and is projected to reach USD 409.3 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period (2024–2030). This steady growth is driven by rising demand from key end-use industries, including textiles, leather processing, and de-icing, alongside increasing applications in the production of sodium dithionite and oxalic acid.

As the global push for eco-friendly and efficient chemical solutions intensifies, the sodium formate market is witnessing significant strategic shifts. In this blog, we profile the Top 10 Companies in the Sodium Formate Industry—a combination of long-established chemical giants and specialized producers who are innovating production processes and expanding their global footprint.

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🔟 1. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, Shandong, China
Key Offering: High-Purity Sodium Formate, Technical Grade Sodium Formate

Luxi Chemical is a leading Chinese chemical conglomerate and one of the world’s largest producers of sodium formate. The company leverages its extensive integrated chemical production complex to manufacture sodium formate efficiently, serving a diverse global clientele. Its strong position in the Asia-Pacific region provides a significant competitive advantage.

Key Market Strengths:

• Vertically integrated production from basic chemicals

• Large-scale manufacturing capacity and cost leadership

• Strong distribution network across Asia and Europe

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9️⃣ 2. Koei Chemical Co., Ltd.

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

Koei Chemical is a prominent Japanese specialty chemical company known for its high-quality standards and advanced production techniques. The company supplies sodium formate primarily to the pharmaceutical and fine chemical industries, where purity and consistency are paramount. Its focus on niche, high-value applications sets it apart in the global market.

Key Market Strengths:

• Specialization in high-purity and pharmaceutical-grade products

• Strong R&D focus on developing new applications

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8️⃣ 3. Kanoria Chemicals & Industries Ltd.

Headquarters: Kolkata, West Bengal, India
Key Offering: Sodium Formate Crystals, Industrial Grade Sodium Formate

Kanoria Chemicals is a major Indian chemical manufacturer with a formidable presence in the chlor-alkali and derivative sectors. The company produces sodium formate as a key derivative, supplying it to the domestic and international markets for use in leather tanning, textile processing, and as a reducing agent.

Key Market Strengths:

• Integrated chlor-alkali operations ensuring reliable feedstock

• Established brand reputation in the Indian subcontinent and Middle East

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7️⃣ 4. Asian Paints Limited (APL)

Headquarters: Mumbai, Maharashtra, India
Key Offering: Sodium Formate for De-icing Applications

While primarily known as a paint manufacturer, Asian Paints has a significant chemicals division that produces sodium formate, mainly utilized in its own de-icing fluid formulations and sold to other industrial users. The company’s vast distribution network provides a unique route to market for its chemical products.

Key Market Strengths:

• Strong internal consumption for value-added products like de-icers

• Extensive pan-India and international distribution infrastructure

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6️⃣ 5. Hawkins, Inc.

Headquarters: Roseville, Minnesota, USA
Key Offering: Sodium Formate-based De-icing Fluids, Industrial Chemicals

Hawkins is a leading specialty chemical and food ingredient distributor and manufacturer in the United States. The company is a key distributor and blender of sodium formate, particularly for the aviation and roadway de-icing markets in North America, where environmentally friendly de-icers are increasingly favored.

Key Market Strengths:

• Dominant position in the North American de-icing chemical market

• Focus on blended, application-ready chemical solutions

Download FREE Sample Report: Sodium Formate Market – View in Detailed Research Report

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5️⃣ 6. Hubei Yihua Chemical Industry Co., Ltd.

Headquarters: Yichang, Hubei, China
Key Offering: Industrial Grade Sodium Formate, Feed Grade Sodium Formate

Hubei Yihua is another major Chinese chemical producer with substantial capacity for sodium formate. The company benefits from its large-scale coal chemical operations, which provide cost-effective raw materials. It serves a broad range of industries, including animal feed preservation, where sodium formate is used as an additive.

Key Market Strengths:

• Competitive pricing derived from integrated coal chemistry

• Diversified application base reducing market dependency

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4️⃣ 7. Anhui Dongfeng Chemical Co., Ltd.

Headquarters: Huainan, Anhui, China
Key Offering: Sodium Formate Powder, Sodium Formate for Leather Tanning

Anhui Dongfeng Chemical specializes in the production of formic acid and its salts, including sodium formate. The company has carved out a strong position as a reliable supplier to the leather processing industry, a major consumer of sodium formate for deliming and tanning processes.

Key Market Strengths:

• Specialization in formic acid derivatives

• Deep expertise in serving the leather and textile sectors

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3️⃣ 8. Dongying Shuntong Chemical Co., Ltd.

Headquarters: Dongying, Shandong, China
Key Offering: Technical Grade Sodium Formate

Dongying Shuntong Chemical is a key manufacturer located in one of China’s major petrochemical hubs. The company focuses on producing sodium formate for industrial applications, including oil drilling fluids and as a precursor in chemical synthesis, leveraging its proximity to raw material sources.

Key Market Strengths:

• Strategic location in a key industrial zone

• Focus on industrial and oilfield applications

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2️⃣ 9. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: High-Quality Sodium Formate, Sustainable Chemical Solutions

Perstorp is a global specialty chemicals leader with a strong focus on sustainability. The company produces high-purity sodium formate and is actively involved in developing eco-friendly production pathways. Its products are used in niche applications requiring high performance and environmental compliance, particularly in Europe and North America.

Key Market Strengths:

• Strong commitment to sustainability and green chemistry

• Reputation for high-quality, reliable specialty chemicals

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1️⃣ 10. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Sodium Formate for Various Industrial Applications

As one of the world’s largest chemical companies, BASF produces sodium formate as part of its extensive portfolio of basic and intermediate chemicals. The company’s global production network and strong R&D capabilities allow it to serve diverse markets and develop innovative applications for sodium formate, particularly in animal nutrition and industrial processes.

Key Market Strengths:

• Unmatched global scale and distribution reach

• Significant investment in research and application development

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🔬 Outlook: Innovation and Sustainability Drive the Sodium Formate Market Forward

The sodium formate market, while mature, is evolving in response to global trends. The industry is increasingly focused on green production methods and expanding into high-growth applications such as biodegradable de-icers and animal feed preservatives, moving beyond traditional uses.

📈 Key Trends Shaping the Market:

• Shift towards bio-based production routes to reduce carbon footprint

• Growing demand for environmentally friendly de-icing agents in aviation and transportation

• Expansion of applications in the oil and gas industry as a non-corrosive additive

• Increasing regulatory scrutiny driving the need for high-purity, safe products in feed and food applications

Get Full Report Here: Sodium Formate Market – View in Detailed Research Report

The companies profiled are not just suppliers of a basic chemical; they are pivotal players enabling sustainable industrial processes and innovative product formulations across the globe.