DUBLIN, May 8, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/rpwcpn/formic_acid) has announced the addition of the "Formic Acid Market by Types, Application & Geography - Global Trends, Forecasts to 2019" report to their offering.
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The European region is the most active market in terms of strategic initiatives, owing to their emerging and mature market demands respectively. The animal feed global market is estimated to be around $16,183.0 million in 2012 and is estimated to reach $20,333.2 million in the next 5 years with the CAGR of 3.8%.
The important formic acid manufacturers include BASF SE (Germany), BASF SE (Germany), Feicheng Acid Chemicals Co. Ltd. (China), Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (India), Perstorp AB (Sweden), and Taminco Corporation (Belgium), and others.
The global formic acid market, along with its end products, witnessed a significant growth in the past few years and this growth is estimated to continue in the coming years. Quality, readily degradable nature & effective substitute to other acids, an upsurge in the demand for these products and innovative techniques developed for its use will be the key influencing factors for the global market with the increased emphasis on its different types and their applications.
Currently, the Asia-Pacific region is the largest consumer in the industry. Among all the countries in the region, China and India lead the formic acid market, with the largest share in the regional volumetric consumption in 2012. The market volume of these products is comparatively low in the ROW region, but is estimated to grow with a moderate CAGR from 2014 to 2019.
Almost 45% of the total formic acid demand was for the agriculture sector in 2012, with silage preservation and animal feed application as the fastest growing end-user segment. As an end-user, agriculture is the largest segment of the industry, primarily due to its high penetration in all the regions and the ban of antibiotics promotion growth by the European Union in its applications.
Key Topics Covered:
1 Introduction
2 Executive Summary
3 Premium Insights
4 Global Formic Acid Market Assessment, 2012
5 Market Overview
6 Market Assessment, By Grade
7 Market Assessment, By Applications
8 Market Assessment, By Geography
9 Competitive Landscape
10 Company Profiles
For more information visit http://www.researchandmarkets.com/research/rpwcpn/formic_acid
Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net
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