Formic Acid Market: Size, Share, And Analysis Projections For 2023-2030

The formic acid market, valued at 216.86 million in 2022 and projected to grow at a CAGR of 4.2% over the forecast period, finds extensive application in the textile industry for dyeing and finishing processes, owing to its versatile properties. Its pivotal role in textile manufacturing is fueled by the burgeoning global demand for apparel and fabrics. Moreover, formic acid serves as a crucial component in leather processing, facilitating tanning and dyeing procedures. With the rising demand for leather products, particularly in the fashion and automotive sectors, the need for formic acid in leather processing is expected to increase in tandem.