Ammonium Formate Market Report 2024 (Global Edition)

Global Ammonium Formate Market Report 2024 Market Size Split by Grade (EP/LR Grade, AR/GR Grade), by Application (Pharmaceutical Industry, Chemical Industry, Fertilizer Industry, Others)

Ammonium Formate Market Report Description

We have various report editions of Ammonium Formate Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Ammonium Formate Market Insights Video

Competitive Landscape of the Ammonium Formate Market

The competitive landscape of the Ammonium Formate Market is characterized by the presence of several key players striving to enhance their market share through strategies such as product development, mergers and acquisitions, and geographical expansion. Some of the prominent players in the market include BASF SE, Eastman Chemical Company, Merck KGaA, and Perstorp Holding AB, among others.

In September 2022, Merck invests over €130 million in Molsheim, France, bolstering manufacturing capabilities. This substantial commitment underscores Merck's dedication to enhancing production and innovation in the region.

(Source:https://www.merckgroup.com/en/annualreport/2022/_assets/downloads/gpi-group-information-merck-ar22.pdf)

In August 2020, BASF SE expanded its footprint in China with a successful acquisition of production assets of alkoxylates from Sinopec Shanghai Petrochemical Company. BASF bought property, assets, and structures of Sinopec Shanghai Petrochemical.

(Source: https://www.basf.com/in/en/media/news-releases/asia-pacific/2020/08/jinshan_china_alkoxylation.html)

Top Companies Market Share in Ammonium Formate Industry: (In no particular order of Rank)

• Avachemicals
• Krishna Chemicals
• AB Enterprises
• Kamdhenu Chemicals
• Nikava Pharmaceutical Industries
• Tiancheng Chemical
• Feicheng Acid Chemicals
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Ammonium Formate Market

Which Region Dominates the Ammonium Formate Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America is the dominant region in the Ammonium Formate Market primarily due to several key factors. Firstly, the region has a well-established chemical industry with advanced manufacturing capabilities, allowing for efficient production of ammonium formate. Secondly, North America has a strong focus on research and development, leading to continuous product innovations and advancements in the market. Additionally, the region's stringent regulations regarding chemical manufacturing ensure high-quality standards, enhancing the trust of consumers and industries in ammonium formate products.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the Ammonium Formate market due to several compelling reasons. The region's rapid industrialization and urbanization have led to increased demand for chemicals, including ammonium formate, in various industries such as pharmaceuticals, textiles, and agriculture. Additionally, the availability of raw materials and cost-effective labor in countries like China and India has made production more economical, driving market growth. Furthermore, the expanding population and rising disposable incomes in Asia Pacific have led to increased consumption of goods, further boosting the demand for ammonium formate in the region.

 

The current report Scope analyzes Ammonium Formate Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Ammonium Formate

According to Cognitive Market Research, the global Ammonium Formate market size was estimated at USD XX Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031.

• In North America, the Ammonium Formate Market exhibits a robust growth trajectory driven by several factors. Regional analysis indicates a significant demand for ammonium formate across various industries, including pharmaceuticals, chemicals, and agriculture.
• Segmentation analysis reveals that the market is diversified based on grade and application. In terms of grade, both EP/LR Grade and AR/GR Grade ammonium formate products are in demand, catering to different industry requirements.
• In conclusion, the North American Ammonium Formate Market demonstrates promising growth prospects driven by the region's strong pharmaceutical and chemical industries.
• According to Cognitive Market Research, the US had a major share in the Ammonium Formate market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 1.0% during the forecast period. The demand is amplified by the nation's strong pharmaceutical and chemical industries propel consistent growth.
• The Canada Ammonium Formate market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. Canada's robust technological advancements to increased usage of Ammonium Formate.
• The Mexico Ammonium Formate market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD XX million in 2024.

Europe Ammonium Formate

According to Cognitive Market Research, the global Ammonium Formate market size was estimated at USD XX Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.5% from 2024 to 2031.

• In Europe, the Ammonium Formate Market exhibits a promising outlook driven by various factors. Regional analysis indicates a steady demand for ammonium formate, particularly in countries with strong pharmaceutical and chemical industries, such as Germany, France, and the UK. These countries are major consumers of ammonium formate for use in pharmaceuticals, chemicals, and other industrial applications.
• Segmentation analysis reveals that the market is segmented based on grade and application. In terms of grade, both EP/LR Grade and AR/GR Grade ammonium formate products are prevalent in the region, catering to diverse industry requirements.
• In conclusion, the Europe Ammonium Formate Market is poised for growth, supported by strong demand from key industries. As the region continues to focus on sustainable practices and technological advancements, the market is expected to witness further expansion.
• The United Kingdom Ammonium Formate market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. In the UK, Ammonium Formate sales witness an upswing due to the nation's stringent regulations regarding product quality and safety.
• The France Ammonium Formate market is projected to witness growth at a CAGR of 0.7% during the forecast period with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the Germany Ammonium Formate market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 1.7% during the forecast period. In Germany, Ammonium Formate sales surge due to the nation's technological advancements. The Italy Ammonium Formate market is projected to witness growth at a CAGR of 0.9% during the forecast period with a market size of USD XX million in 2024.
• The Russia Ammonium Formate market is projected to witness growth at a CAGR of 0.5% during the forecast period with a market size of USD XX million in 2024.
• The Spain Ammonium Formate market is projected to witness growth at a CAGR of 0.6% during the forecast period with a market size of USD XX million in 2024.
• The Luxembourg Ammonium Formate market is projected to witness growth at a CAGR of 1.6% during the forecast period with a market size of USD XX million in 2024.
• The Portugal Ammonium Formate market is projected to witness growth at a CAGR of 1.3% during the forecast period with a market size of USD XX million in 2024.
• The Greece Ammonium Formate market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD XX million in 2024.
• Rest of Europe Ammonium Formate market is projected to witness growth at a CAGR of 0.2% during the forecast period with a market size of USD XX million in 2024.

Asia Pacific Ammonium Formate

According to Cognitive Market Research, the global Ammonium Formate market size was estimated at USD XX Million out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

• In the Asia Pacific region, the Ammonium Formate Market shows promising growth prospects, driven by several factors. Regional analysis reveals that countries like China, India, Japan, and South Korea are key contributors to market expansion. These countries exhibit a strong presence in industries such as pharmaceuticals, chemicals, and agriculture, which are significant consumers of ammonium formate.
• Segmentation analysis indicates that the market is segmented based on grade and application. In terms of grade, both EP/LR Grade and AR/GR Grade ammonium formate products are prevalent in the region, catering to diverse industry requirements.
• In conclusion, the Asia Pacific Ammonium Formate Market is expected to witness significant growth, driven by the region's expanding industrial base and increasing demand for high-quality products.
• According to Cognitive Market Research, the China Ammonium Formate market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Ammonium Formate sales surge in China due to the nation's expanding industrial base and increasing demand for high-quality products.
• The Japan Ammonium Formate market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD XX million in 2024.
• The India Ammonium Formate market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. The demand is augmented by India's focus on product development and strategic partnerships.
• The South Korea Ammonium Formate market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD XX million in 2024.
• The Australia Ammonium Formate market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD XX million in 2024.
• The South East Asia Ammonium Formate market is projected to witness growth at a CAGR of 6.0% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Asia Pacific Ammonium Formate market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD XX million in 2024.

South America Ammonium Formate

According to Cognitive Market Research, the global Ammonium Formate market size was estimated at USD XX Million out of which Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.

• In Latin America, the Ammonium Formate Market exhibits a steady growth trajectory, driven by several key factors unique to the region. The agriculture sector in Latin America, particularly in countries like Brazil and Argentina, drives demand for ammonium formate-based fertilizers, further propelling market growth.
• Segmentation analysis reveals that the market is segmented based on grade and application. Both EP/LR Grade and AR/GR Grade ammonium formate products are prevalent in the region, catering to various industrial needs.
• In conclusion, the Ammonium Formate Market in Latin America is poised for significant growth, driven by the region's strong industrial base and increasing agricultural activities.
• According to Cognitive Market Research, the Brazil Ammonium Formate market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Ammonium Formate sales flourish in Brazil due to the nation's strong industrial base and increasing agricultural activities.
• The Argentina Ammonium Formate market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. The demand is augmented by Argentina's product innovation and strategic partnerships.
• The Colombia Ammonium Formate market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD XX million in 2024.
• The Peru Ammonium Formate market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD XX million in 2024.
• The Chile Ammonium Formate market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Latin America Ammonium Formate market is projected to witness growth at a CAGR of 1.5% during the forecast period with a market size of USD XX million in 2024.

Middle East and Africa Ammonium Formate

According to Cognitive Market Research, the global Ammonium Formate market size was estimated at USD XX Million out of which Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.

• In the Middle East and Africa (MEA) region, the Ammonium Formate Market demonstrates promising growth prospects, fueled by several region-specific factors.
• Regional analysis indicates that countries like Saudi Arabia, the United Arab Emirates, South Africa, and Nigeria are pivotal players in driving market expansion. These nations boast thriving chemical and pharmaceutical sectors, where ammonium formate finds extensive applications in various processes such as synthesis, catalysis, and pH regulation.
• Segmentation analysis reveals that the MEA market for ammonium formate is segmented based on grade and application. Both EP/LR Grade and AR/GR Grade ammonium formate products are prevalent in the region, catering to diverse industrial requirements.
• In conclusion, the Ammonium Formate Market in the Middle East and Africa region is poised for steady growth, driven by the region's burgeoning industrial sectors and increasing agricultural activities.
• The GCC Countries Ammonium Formate market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD XX million in 2024. Ammonium Formate sales flourish due to the region's focus on innovation and strategic alliances.
• The Egypt Ammonium Formate market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD XX million in 2024.
• The South Africa Ammonium Formate market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD XX million in 2024. Ammonium Formate sales flourish in the South Africa due to the region's increasing agricultural activities.
• The Turkey Ammonium Formate market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD XX million in 2024.
• The Nigeria Ammonium Formate market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD XX million in 2024.
• The Rest of MEA Ammonium Formate market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD XX million in 2024.

Ammonium Formate Market Analysis

Ammonium Formate Market Grade Segment Analysis

According to Cognitive Market Research, the dominant category is the AR/GR Grade, which stands for Analytical Reagent/General Reagent Grade. This category is widely used in various industries, including pharmaceuticals, chemicals, and research laboratories. AR/GR Grade ammonium formate is preferred for its high purity and precise composition, making it suitable for analytical and research applications where accuracy is paramount. Additionally, the growing demand for AR/GR Grade ammonium formate is driven by the increasing emphasis on quality control and compliance with stringent regulatory standards in these industries.

The fastest-growing category in the Ammonium Formate Market is the EP/LR Grade, which refers to Extra Pure/Laboratory Reagent Grade. This category is experiencing rapid growth due to its expanding applications in the pharmaceutical and biotechnology sectors. EP/LR Grade ammonium formate is characterized by its exceptional purity and low impurity levels, making it suitable for use in critical laboratory processes and pharmaceutical formulations.

• EP/LR Grade 
• AR/GR Grade

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Ammonium Formate Industry. Request a Free Sample PDF!

Ammonium Formate Market Application Segment Analysis

According to Cognitive Market Research, the dominant application category is the Pharmaceutical Industry. Ammonium formate finds extensive use in pharmaceutical manufacturing processes, particularly in the synthesis of various active pharmaceutical ingredients (APIs) and intermediates. It serves as a versatile reagent and provides numerous benefits such as high purity, excellent solubility, and compatibility with other pharmaceutical excipients. Additionally, the pharmaceutical industry's stringent quality standards and regulatory requirements necessitate the use of high-quality chemicals like ammonium formate to ensure the safety and efficacy of pharmaceutical products.

The fastest-growing application category in the Ammonium Formate Market is the Chemical Industry. Ammonium formate is increasingly being utilized in various chemical processes and reactions, including organic synthesis, catalysis, and as a reducing agent. The versatility of ammonium formate makes it a preferred choice for chemical manufacturers seeking environmentally friendly and cost-effective solutions Moreover, advancements in chemical synthesis techniques and the growing demand for specialty chemicals are driving the adoption of ammonium formate in the chemical industry.

• Pharmaceutical Industry 
• Chemical Industry 
• Fertilizer Industry 
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion