FORMIC ACID MARKET ANALYSIS
Production of formic acid needs strictly controlled conditions to maintain quality and safety standards. Fluctuating prices of raw materials used in formic acid production adds to the challenges of cost control and business viability. Environmental regulations governing industrial emissions are becoming more stringent over time in many countries, requiring investments in abatement technology. Transport and storage of formic acid also requires specialized equipment and safety protocols due to its corrosive nature.
Opportunities: Growing demand for preservatives and animal feed applications
Demand for preservatives and animal feed applications is increasing with rising global meat consumption. Additionally, new applications in leather tanning and textile dyeing industries are expanding as well. As a platform chemical, it is seeing increased research into derivatives and end products with broader industrial uses. Efforts to make production technologies more efficient and improve waste handling can help tackle environmental issues and boost
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