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Sodium Formate Market
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Sodium Formate Market

Author: Vineet Pandey - Business Consultant, Report ID - DS1301070, Published - February 2025

Segmented in Production Methods (Sodium Hydroxide Method, Carbon Monoxide Method, Sodium Carbonate Method), Applications (Leather Processing, Road De-icing, Fuel Cell Catalyst, Animal Feed, Drilling fluids), End Use Industry and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Sodium Formate Market Outlook

The market, for Sodium formate was estimated at $390.6 million in 2024; and it is anticipated to increase to $592.8 million by 2030 with projections indicating a growth to around $839.2 million by 2035. This expansion represents a compound annual growth rate (CAGR) of 7.2% over the forecast period. The rapid expansion of the sodium formate market can be credited to major factors driving its growth momentum! Its importance in a range of industrial uses has attracted a broader customer base and consequently spurred an uptick in demand for it! The shifts within the chemical industry brought about by advancements and the rise of eco friendly alternatives are propelling the market expansion for sodium formate as well! Additionally the sustained importance of sodium formate, in advancing eco manufacturing processes is further propelling market growth momentum!


there has been a surge in the popularity of sodium formate as a chemical compound known for its user friendly nature and high solubility in water while being environmentally safe as well. Its primary uses include fabric care products and food preservation along with being a deicing agent which are driving factors for its increasing demand in the market. The growing trend towards eco alternatives and bio based materials has sparked more interest, in the applications of sodium formate.


Market Size Forecast & Key Insights

2019
$390M2024
2029
$782M2034

Absolute Growth Opportunity = $392M

The Sodium Formate market is projected to grow from $390.6 million in 2024 to $782 million in 2034. This represents a CAGR of 7.2%, reflecting rising demand across Leather Tanning, Textile and Concrete and Deicing Industry.

The Sodium Formate market is set to add $392 million between 2024 and 2034, with manufacturer targeting Road De-icing & Fuel Cell Catalyst Applications projected to gain a larger market share.

With Increased use in leather tanning, and Industrial application growth, Sodium Formate market to expand 100% between 2024 and 2034.

Opportunities in the Sodium Formate Market

Fostering Strategic Collaborations

In today's world where successful industries thrive on partnerships and alliances play a crucial role in defining success levels for businesses Sodium formate suppliers have the opportunity to team up with major players, in related sectors.

Exploring the De-Icing Industry and Capitalizing Sustainable Leather Tanning Techniques

The deicing industry has potential for sodium formate utilization as the need for effective and environmentally friendly solutions continues to rise due to ongoing weather challenges faced globally by various sectors such, as industrial and commercial applications.

The increasing worldwide demand for eco industrial practices has led to a growing interest in using sodium formate in the environmentally conscious leather tanning industry. By incorporating sodium formate into the tanning process than relying on traditional methods it is possible to minimize environmental impact while also providing a superior quality and cost efficient option. Nations with established leather sectors like Italy, China and India show potential, for significant expansion by adopting sodium formate technology in their operations.

Growth Opportunities in North America and Europe

Europe Outlook

In Europe like in North America's market demands are fueled by the urgent search for new and eco friendly de icing solutions that work effectively and sustainably. Especially for the aviation sector. Sodium formate is becoming increasingly popular in this field for its top notch performance and eco friendliness. Furthermore the rising opportunities in animal farming industry poultry farming are boosting the need for sodium formate as a preservative, in animal feed.

North America Outlook

North America is a thriving market for sodium formate with a focus on the oil and gas sector where it is used as a deicer and drilling fluid due to theindustry'sshift towards eco solutions driven by sustainability concerns. A detailed chemical industry in North America is also contributing to the increased demand for sodium formate, in applications. In the face of competition from both local and global rivals its become clear that innovation and quality are essential for success. A breakthrough has been made with this product finding an use in creating formic acid, a developmentthat'smaking waves in the region. Sodium formate is now seen as an more effective alternative compared to traditional approaches. This innovative use has led to possibilities in important industries, fuelingsignificant growth, in the regional market.

North America Outlook

North America is a thriving market for sodium formate with a focus on the oil and gas sector where it is used as a deicer and drilling fluid due to theindustry'sshift towards eco solutions driven by sustainability concerns. A detailed chemical industry in North America is also contributing to the increased demand for sodium formate, in applications. In the face of competition from both local and global rivals its become clear that innovation and quality are essential for success. A breakthrough has been made with this product finding an use in creating formic acid, a developmentthat'smaking waves in the region. Sodium formate is now seen as an more effective alternative compared to traditional approaches. This innovative use has led to possibilities in important industries, fuelingsignificant growth, in the regional market.

Europe Outlook

In Europe like in North America's market demands are fueled by the urgent search for new and eco friendly de icing solutions that work effectively and sustainably. Especially for the aviation sector. Sodium formate is becoming increasingly popular in this field for its top notch performance and eco friendliness. Furthermore the rising opportunities in animal farming industry poultry farming are boosting the need for sodium formate as a preservative, in animal feed.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, China, India, Germany, Brazil are expected to grow at 4.7% to 6.9% CAGR

2

Emerging Markets : Vietnam, Indonesia, Brazil are expected to grow at 8.3% to 9.9% CAGR

Market Analysis Chart

A thorough analysis of the sodium formate market indicates key factors driving its trend and factors limiting its full potential growth trajectory. The increasing need in industries like deicing and leather is boosting market expansion significantly as sodium formate plays a crucial role as a deicing agent and is gaining prominence, in the market.

Recent Developments and Technological Advancement

December 2024

BASF SE shared that they are boosting sodium formate production to meet the growing needs of industries, like leather tanning and deicing on a global scale.

October 2024

The Dow Chemical Company has launched a range of eco friendly products made with sodium formate. These products make use of its ability to absorb moisture and act as a buffer in applications, like animal feed and food preservation.

August 2024

Perstorp Holding AB introduced a novel assessment method, for sodium formate to enhance the precision and dependability of monitoring its quality throughout production.

In the era with a growing emphasis on environmentally friendly and effective solutions in various sectors like oil drilling and food production, among others sodium formate has become increasingly sought after being a versatile substance mainly originating from formic acid.

Impact of Industry Transitions on the Sodium Formate Market

As a core segment of the C&M industry, the Sodium Formate market develops in line with broader industry shifts. Over recent years, transitions such as Adaptation to Greener Alternatives and Rise of the Leather Industry have redefined priorities across the C&M sector, influencing how the Sodium Formate market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Adaptation to Greener Alternatives:

There has been a change in recent times towards the adoption of environmentally friendly products across different sectors of industry. One prime example of this transformation can be seen in the field of deicing operations. Sodium formate has emerged as an eco friendly substitute for conventional deicing agents and is gaining popularity, in airport runway deicing procedures. The high density and non corrosive properties of sodium formate enable it to penetrate ice and effectively prevent re freezing while enhancing overall safety measures. In light of this change in the industry landscape numerous companies have begun to allocate resources, towards the manufacturing of sodium formate thus contributing to the expansion of the market.

2

Rise of the Leather Industry:

A crucial shift in the sodium formate sector is its demand within the leather industry where it is essential for processes like removing excess hair from animal hides and adjusting the pH levels of leather during tanning activities. The market demand for sodium formate has been notably affected by the popularity of leather goods, as luxury items and the rising purchasing power of consumers in times.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the C&M industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the C&M industry cascade into the Sodium Formate market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Increased Use in Leather Tanning, and Development in Formate-based Drilling Fluids

In the leather tanning industry sodium formate plays a role as a key chemical. It helps chromium penetrate and absorb into the leather thereby improving its quality. With the growth of leather production the need for sodium formate is also expected to surge accordingly. Its ability to enhance quality ensures its continued importance, in the industry.
The oil and gas sector has also begun to embrace formate infused drilling fluids for their improved efficiency and reduced environmental footprint. By incorporating sodium formate into these fluids the lubrication is also enhanced formation damage is also minimized. Temperature sensitive areas are also stabilized.
The expanding use of sodium formate in industries indicates further development ahead. Its ability to deice surfaces has also proven to be highly valuable in areas like using it for deicing airport runways ensures safe and efficient operations there The expansion of the aviation sector and the urgent requirement for effective deicing agents are also expected to positively impact the sodium formate market It provides a less corrosive and eco friendly substitute, for conventional deicing salts which gives it an advantage in this field.

Restraint: High Manufacturing Cost

The manufacturing of sodium formate undergoes methods like dry processing and wet processing along with oxidation processes which demand significant resource allocation and time investment. It frequently leads to production expenses that pose a notable hurdle, in the industry sector. The escalated manufacturing costs ultimately drive up the market price of sodium formate making it challenging for cost industries to embrace it. This pattern dissuades players from entering the market landscape and dampens competitive forces while limiting market expansion. Thus it poses a challenge that must be tackled in order to maintain the stability of the sodium formate market.

Challenge: Stringent Environmental Regulations

The strict environmental regulations worldwide also play a role in the sodium formate markets dynamics. Sodium formate is widely used across industries but comes with environmental risks that need to be managed effectively. The production process could lead to waste disposal challenges that require attention. Moreover there are concerns from organizations regarding the potential groundwater contamination, from these substances.

Supply Chain Landscape

Raw Material Procurement

Perstorp

BASF

Intermediate Processing

Eastman Chemical Company

Kemira

Production
Perstorp / ADDCON / Shandong Pulisi
End Use Industry
Leather Tanning / De-Icing / Drilling Fluids
Raw Material Procurement

Perstorp

BASF

Intermediate Processing

Eastman Chemical Company

Kemira

Production

Perstorp

ADDCON

Shandong Pulisi

End Use Industry

Leather Tanning

De-Icing

Drilling Fluids

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Leading Providers and Their Strategies

Application AreaIndustryLeading Providers / ConsumersProvider Strategies
Leather Tanning
Leather Industry
Eastman Chemical Company
Focus on renewable feedstock utilization for sustainable production of sodium formate
De-icing Agent
Aviation and Road-maintenance Industry
Perstorp Holding AB
Clear goal of expanding application areas to increase market coverage
Preservative and Antibacterial Agent
Food and Beverage Industry
Zibo Aiheng New Material Co., Ltd.
Continuous research and development activities to provide high-quality sodium formate.
Catalyst for Production of Sodium Hydrosulfite
Chemical Industry
Loba Chemie Pvt. Ltd.
Improving catalytic efficiency and exploring the scope of sodium formate in various industrial applications

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Sodium Formate market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Sodium Formate in Textile, Leather Tanning and Concrete and Deicing Industry

Textile Industry

The textile sector often uses sodium formate in its dye and print operations for enhancing color vibrancy in fabric designs and ensuring high quality results with vibrant colors on textiles, like Textile Chemist & Colorist does to achieve superior fabric quality and vivid color rendering through its treatment processes.

Leather Tanning Industry

In the leather tanning sector sodium formate is widely employed. It serves as both a shield and a preservative mainly ensuring the longevity and flexibility of leather goods. Its significance lies in its ability to contribute to the production of enduring leather. Key players in the industry like Lanxess AG and TFL make use of sodium formate in their operations acknowledging its value, for conditioning leather.

Concrete and Deicing Industry

Another important use of sodium formate is in the deicing sectors where it plays a crucial role. It speeds up the process of setting concrete by acting as an accelerator, which reduces the time needed for both final setting of cement making it easier to work with. Moreover sodium formate is widely employed as a deicing substance for airports and highways. Market leaders such, as BASF SE and Perstorp focus on manufacturing sodium formate for these purposes capitalizing on its strong qualities to ensure dependable concrete work and safe deicing operations.

Sodium Formate vs. Substitutes:
Performance and Positioning Analysis

Sodium formate stands out among alternatives like calcium formate and potassium formate due to its wide-ranging applications, affordable cost, and environmental friendliness. Its unique market positioning and its potential for growth are backed by rising industrial and environmental trends. These Alternatives specially Potassium Formate has experienced a rapid growth as detailed in our latest report.

Sodium Formate
  • Potassium Formate /
  • Calcium formate /
  • Magnesium formate
    Sodium formate is highly efficient, environmentally friendly
    Its hygroscopic nature can lead to handling difficulties, potential for elevated
    High versatility, efficient performance
    Expensive, less environmentally friendly

Sodium Formate vs. Substitutes:
Performance and Positioning Analysis

Sodium Formate

  • Sodium formate is highly efficient, environmentally friendly
  • Its hygroscopic nature can lead to handling difficulties, potential for elevated

Potassium Formate / Calcium formate / Magnesium formate

  • High versatility, efficient performance
  • Expensive, less environmentally friendly

Sodium formate stands out among alternatives like calcium formate and potassium formate due to its wide-ranging applications, affordable cost, and environmental friendliness. Its unique market positioning and its potential for growth are backed by rising industrial and environmental trends. These Alternatives specially Potassium Formate has experienced a rapid growth as detailed in our latest report.

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Research Methodology

This market research methodology defines the Sodium Formate market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the C&M ecosystem, we analyze Sodium Formate across Leather Processing, Road De-icing, and Fuel Cell Catalyst Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:


We benchmark competitors such as Perstorp Holding AB, Addcon, and BASF SE by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Procurement, Intermediate Processing, and Production. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global C&M revenues to estimate the Sodium Formate segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Procurement (Perstorp, BASF), Intermediate Processing (Eastman Chemical Company, Kemira), and Production. Our parallel substitute analysis examines Potassium Formate, Calcium formate, and Magnesium formate, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Perstorp Holding AB, Addcon, and BASF SE, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Sodium Formate market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Sodium Formate Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 418 million
Revenue Forecast in 2034USD 782 million
Growth RateCAGR of 7.2% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 2024390 million
Growth OpportunityUSD 392 million
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD million and Industry Statistics
Market Size 2024390 million USD
Market Size 2027481 million USD
Market Size 2029553 million USD
Market Size 2030592 million USD
Market Size 2034782 million USD
Market Size 2035839 million USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredProduction Methods, Applications, End Use Industry
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledPerstorp Holding AB, Addcon, BASF SE, Kemira Oyj, Shandong Head Co. Ltd., NASi, Chongqing Chuandong Chemical (Group) Co. Ltd., Prathista Industries Ltd., Zibo Aiheng New Material Co. Ltd., Weifang Huabo Chemical Co. Ltd., Helm AG and Feicheng Acid Chemicals Co. Ltd.
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Sodium Formate Market Size, Opportunities & Strategic Insights, by Production Methods

4.1Sodium Hydroxide Method
4.2Carbon Monoxide Method
4.3Sodium Carbonate Method
Chapter 5

Sodium Formate Market Size, Opportunities & Strategic Insights, by Applications

5.1Leather Processing
5.2Road De-icing
5.3Fuel Cell Catalyst
5.4Animal Feed
5.5Drilling fluids
Chapter 6

Sodium Formate Market Size, Opportunities & Strategic Insights, by End Use Industry

6.1Leather & Textile
6.2Oil & Gas
6.3Energy Production
6.4Animal Feed Industry
Chapter 7

Sodium Formate Market, by Region

7.1North America Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.1.1U.S.
7.1.2Canada
7.2Europe Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.2.1Germany
7.2.2France
7.2.3UK
7.2.4Italy
7.2.5The Netherlands
7.2.6Rest of EU
7.3Asia Pacific Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.3.1China
7.3.2Japan
7.3.3South Korea
7.3.4India
7.3.5Australia
7.3.6Thailand
7.3.7Rest of APAC
7.4Middle East & Africa Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.4.1Saudi Arabia
7.4.2United Arab Emirates
7.4.3South Africa
7.4.4Rest of MEA
7.5Latin America Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.5.1Brazil
7.5.2Mexico
7.5.3Rest of LA
7.6CIS Sodium Formate Market Size, Opportunities, Key Trends & Strategic Insights
7.6.1Russia
7.6.2Rest of CIS
Chapter 8

Competitive Landscape

8.1Competitive Dashboard & Market Share Analysis
8.2Company Profiles (Overview, Financials, Developments, SWOT)
8.2.1Perstorp Holding AB
8.2.2Addcon
8.2.3BASF SE
8.2.4Kemira Oyj
8.2.5Shandong Head Co. Ltd.
8.2.6NASi
8.2.7Chongqing Chuandong Chemical (Group) Co. Ltd.
8.2.8Prathista Industries Ltd.
8.2.9Zibo Aiheng New Material Co. Ltd.
8.2.10Weifang Huabo Chemical Co. Ltd.
8.2.11Helm AG
8.2.12Feicheng Acid Chemicals Co. Ltd.