Formic acid, salts and esters market in Germany

Earlier Report Observations

The market for formic acid, salts and esters in Germany showed considerable movement from 2018 to 2024. Starting at 180.1 million US dollars in 2018, the market size contracted over the following two years, reaching 118.8 million by 2020. The decline in 2020 was primarily influenced by the COVID-19 pandemic, which caused global supply chain disruptions, affecting raw material availability and logistics for the industry.

A strong recovery unfolded from 2021, with the market expanding to 188.1 million US dollars by 2022. This growth was driven by heightened demand for formic acid in agriculture as a substitute for antibiotics, spurred by stricter food safety regulations. Concurrent investments in sustainable production technologies and political support for decarbonizing the chemical sector further fueled the market's expansion during this period.

By 2024, the market size had decreased to 136.3 million US dollars. During that year, BASF secured funding from the German Federal Ministry for Economic Affairs and Climate Action to construct a large-scale industrial heat pump, a significant step aimed at drastically reducing greenhouse gas emissions in formic acid production, highlighting the ongoing industry shift toward sustainable manufacturing.

Production formic acid, salts and esters in Germany

In value, 2017-2020, M $ US

Production of formic acid, salts and esters in Germany declined for the second year in a row. In 2020, output was valued at 142.6 million US dollars, marking a moderate year-on-year decrease of 3.7%. From 2017 to 2020, production fell by 13%, which translates to an annualized decline of 4.5%. The highest production value was recorded in 2018 at 208.6 million US dollars, representing a 27.2% increase from the previous year. The sharpest drop occurred in 2019, with a 29.0% decrease.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

Exports formic acid, salts and esters from Germany

Exports in kind, t

Exports of formic acid, salts and esters from Germany declined for the second consecutive year. In 2020, shipments abroad totaled 63 673 tonnes, showing a moderate 5.1% decrease compared to 2019. Between 2017 and 2020, exports fell by 3.6%, with a compound annual growth rate of -1.2%. The peak export volume was reached in 2018 at 70 762 tonnes, which was a 7.2% increase from 2017. The largest decline occurred in 2019, with a 5.2% drop.

Annual dynamics of product's exports from Germany in kind, 2017-2020, t

From 2017 to 2020, the export structure for formic acid, salts and esters remained highly fragmented. The top three destinations—the Netherlands (11.9% of export volume), Italy (9.8%), and France (9.5%)—collectively accounted for just 31.2% of total exports, with no single country holding a dominant share.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, K $ US

Germany's exports of formic acid, salts and esters declined for the second year running. In 2020, export value amounted to 47 248 thousand US dollars, a significant 13.3% decrease from the previous year. Over the period from 2017 to 2020, exports dropped by 12%, equivalent to an annualized decline of 4.2%. The highest export value was recorded in 2018 at 68 917 thousand US dollars, reflecting a 28.4% increase. The sharpest fall occurred in 2019, with a 20.9% decrease.

Annual dynamics of product's exports from Germany in value, 2017-2020, K $ US

Between 2017 and 2020, Germany's formic acid, salts and esters were exported to a wide range of markets. The top three destinations by value—France (10.1% of export value), Italy (9.7%), and the Netherlands (9.4%)—together accounted for only 29.2% of total exports. The remaining 70.8% was distributed among numerous smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports formic acid, salts and esters to Germany

Imports in kind, t

After rising for two years, imports of formic acid, salts and esters into Germany declined. In 2020, imports stood at 38 657 tonnes, a sharp 30.5% decrease compared to 2019. From 2017 to 2020, imports fell by 22.4%, which corresponds to an annualized decline of 8.1%. The highest import volume was recorded in 2019 at 55 598 tonnes. The largest increase occurred in 2018, with a 7.7% rise.

Annual dynamics of product's imports to Germany in kind, 2017-2020, t

From 2017 to 2020, the Netherlands (27.0% of import volume), Sweden (24.7%), and Finland (17.9%) were the main suppliers of formic acid, salts and esters to Germany. Together, these three countries accounted for 69.6% of total imports in volume terms.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, K $ US

Germany's imports of formic acid, salts and esters declined for the second consecutive year. In 2020, import value totaled 23 362 thousand US dollars, a substantial 36.8% decrease from 2019. Over the period from 2017 to 2020, imports dropped by 23.6%, with a compound annual growth rate of -8.6%. The peak import value was recorded in 2018 at 40 434 thousand US dollars, representing a 32.2% increase. The largest decline occurred in 2020, following the 2019 peak.

Annual dynamics of product's imports to Germany in value, 2017-2020, K $ US

Between 2017 and 2020, the Netherlands (26.2% of import value), Sweden (22.7%), and Finland (17.8%) led as the primary suppliers of formic acid, salts and esters to Germany. Their combined share reached 66.8% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020