From GlobeNewswire: 2024-11-14 01:30:00

Custom Market Insights released a report on the Formic Acid Market, projecting growth from USD 2,310 million in 2024 to USD 5,240 million by 2033, with a CAGR of 9.53%. Demand is driven by animal feed preservation, rubber industry expansion, agricultural use, pharmaceutical applications, and eco-friendly initiatives.

Thermo Fisher Scientific partnered with BRIN to enhance research capabilities in Indonesia, while PETRONAS Chemicals Group acquired Perstorp to strengthen its specialty chemicals market presence. Incipio Group collaborated with Eastman Chemical for sustainable materials, and Nitto Group focused on ESG management, aiming for carbon neutrality by 2022 with the production of carbon-negative formic acid.

The report covers market sizes, growth rates, key segments, regions, and buying options for customized research needs. Explore revenue estimations, company profiles, competitive landscape, growth factors, and recent trends in the Formic Acid Market. Request a free sample or inquire for a tailored copy to stay informed on industry developments and opportunities. North America: The Formic Acid market in North America is driven by its use in livestock feed, agriculture, leather, and textile industries. The region’s shift towards eco-friendly chemicals and growth in pharmaceutical and food processing sectors contribute to market growth.

Europe: In Europe, the Formic Acid market benefits from demand in agriculture, leather, textiles, and regulations favoring sustainable products. Ongoing research and development efforts to enhance production efficiency also drive market expansion in the region.

Asia-Pacific: The Formic Acid market in Asia-Pacific is supported by various trends. The demand for formic acid in agriculture, leather, and textile industries is on the rise due to its use in feed preservation, pest control, and antibacterial agents. Its green alternative status, along with regulatory support and technological advancements, are driving market growth in the Asia-Pacific region.

In Latin America, the Middle East, and Africa, the formic acid market is expanding thanks to increasing industrial applications in agriculture and leather, growing demand for preservatives and antibacterial agents, and advancements in production technologies. Government initiatives promoting sustainable agricultural practices are also contributing to market expansion.

Key players in the formic acid market include BASF SE, Celanese Corporation, Eastman Chemical Company, and Yara International ASA. The market offers a free sample report, comprehensive coverage, maximum market tables and figures, subscription-based options, customization, post-sale service assistance, discounts, and personalized market briefs. Visit the link for more information: https://www.custommarketinsights.com/report/formic-acid-market/ 1. The stock market hit record highs today, with the S&P 500 reaching a new peak of 3,700 points. Investors are optimistic about the economy’s recovery and the prospect of additional stimulus measures from the government.

2. A new study found that wearing two masks can significantly reduce the transmission of COVID-19. Researchers at Stanford University discovered that double-masking can block more than 90% of respiratory droplets.

3. The unemployment rate dropped to 6.3% in January, with the economy adding 49,000 jobs. While this is a positive sign of recovery, economists warn that the job market still has a long way to go before returning to pre-pandemic levels.

4. Tesla announced plans to build a new gigafactory in Texas, which will manufacture electric vehicles and batteries. The factory is expected to create thousands of jobs and further solidify Tesla’s position as a leader in the electric vehicle market.

5. The FDA approved the Johnson & Johnson COVID-19 vaccine for emergency use, making it the third vaccine available in the United States. The single-dose vaccine has shown to be highly effective in preventing severe illness and death from the virus. 1. In a recent study, researchers found that the average global temperature has increased by 1.2 degrees Celsius since the pre-industrial era. This alarming trend is attributed to human activities such as burning fossil fuels and deforestation.

2. The World Health Organization has declared the ongoing COVID-19 pandemic as a global health emergency. With over 100 million confirmed cases worldwide and a death toll exceeding 2 million, countries are urged to implement strict public health measures to curb the spread of the virus.

3. Tesla, the electric car company founded by Elon Musk, has surpassed a market value of $800 billion. This milestone makes Tesla the most valuable car company in the world, surpassing traditional giants like Toyota and Volkswagen.

4. The United Nations has reported that over 168 million people will need humanitarian assistance in 2021, a 40% increase from the previous year. Conflicts, natural disasters, and the COVID-19 pandemic have exacerbated global poverty and food insecurity, leading to a surge in humanitarian needs. 1. The stock market hit a record high today, with the S&P 500 reaching 3,000 for the first time. This milestone comes as investors are optimistic about the upcoming earnings season and potential interest rate cuts by the Federal Reserve.

2. In other news, a new study has revealed that over 50% of Americans are not saving enough for retirement. The study found that many people are not taking advantage of employer-sponsored retirement plans, leading to a potential crisis in the future.

3. On the international front, tensions between the US and Iran continue to escalate as Iran seizes a British oil tanker in the Strait of Hormuz. The US has condemned the action as a violation of international law and is considering potential retaliatory measures.

4. In technology news, Apple has announced a new credit card in partnership with Goldman Sachs. The Apple Card will offer cash back rewards and unique features such as a daily cash payout option. The card is set to launch later this summer.

5. Lastly, a heatwave is sweeping across Europe, with temperatures reaching record highs in several countries. The extreme heat has caused power outages, wildfires, and health concerns. Authorities are urging residents to stay hydrated and take precautions to avoid heat-related illnesses.



Read more at GlobeNewswire: [Latest] Global Formic Acid Market Size/Share Worth USD