Formic Acid Market Analysis, Trends, Forecast Up to 2030
The global formic acid market is expected to reach USD 3.85 Billion by 2030, at a CAGR of 4.6% during the forecast period 2022 to 2030. The formic acid market has grown due to the increasing demand for preservatives in animal feed. Formic acids possess antibacterial properties, making them a perfect fit for animal feed to be used as a preservative. The increasing demand for formic acid as a preservative propels the growth of the formic acid market in the coming years.