Prediction of investment prospects in the formic acid market

Today, I would like to discuss with everyone the basic organic chemical raw material - formic acid!

Formic acid was first obtained by decomposing oxalic acid by J. -L. Guy-Lussac, widely used in industries such as pesticides, leather, dyes, pharmaceuticals, and rubber. Formic acid can be directly used in fabric processing, tanning, textile printing and dyeing, and storage of green fodder. It can also be used as a metal surface treatment agent, rubber auxiliaries, and industrial solvents. Used in organic synthesis to synthesize various formate esters, acridine dyes, and formamide series of pharmaceutical intermediates.

Formic acid is the only carboxylic acid that can undergo an addition reaction with olefins. Formic acid reacts rapidly with olefins to form formate esters under the action of acids (such as sulfuric acid and hydrofluoric acid). However, side reactions similar to the Koch reaction can also occur, with the product being a higher level carboxylic acid. Formic acid is colorless, has an irritating odor, and is corrosive. After contact with human skin, it can blister and become red and swollen. Formic acid has the properties of both acids and aldehydes.

Since the 1980s, new methods for the synthesis of methyl formate have been continuously developed and studied, especially for the industrial production of methyl formate by methanol carbonylation and methanol dehydrogenation, which has greatly reduced the cost of producing methyl formate and also promoted the continuous expansion of the application field of methyl formate. In 2019, the pharmaceutical sector accounted for 27% of the global methyl formate market, while pesticides accounted for 23%.

If you are interested in our formic acid and methyl formate, please contact us, we will have professional technicians to discuss with you.