Formic Acid Market Size, Share, and Forecast During Period Of 2021 – 2030

May 24, 2023 ⚊ 1 Min read ⚊ Views 34 ⚊ BUSINESS

The market segmentation, based on Production Method, includes Oxalic Acid and Carbonylation of Methanol. The Carbonylation of the Methanol segment may dominate the market. In this process, carbon monoxide and methanol are reacted in the presence of a catalyst to produce formic acid. This method offers several advantages, including higher yield, lower production costs, and more environmentally friendly compared to traditional methods of formic acid production, such as oxidation of formaldehyde.

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Tags: Formic Acid Market

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