Pro
Chemicals & Materials
Bio-lubricants Market End-use Industry, By Others
| Label | North America | United States | Canada |
|---|---|---|---|
| 2014 | 106.48 USD Mn | 69.14 USD Mn | 37.34 USD Mn |
| 2015 | 107.37 USD Mn | 69.79 USD Mn | 37.58 USD Mn |
| 2016 | 108.33 USD Mn | 70.49 USD Mn | 37.84 USD Mn |
| 2017 | 109.98 USD Mn | 71.64 USD Mn | 38.34 USD Mn |
| 2018 | 112.37 USD Mn | 73.27 USD Mn | 39.10 USD Mn |
| 2019 | 115.54 USD Mn | 75.42 USD Mn | 40.12 USD Mn |
| 2020 | 119.54 USD Mn | 78.11 USD Mn | 41.43 USD Mn |
| 2021 | 124.44 USD Mn | 81.40 USD Mn | 43.04 USD Mn |
| 2022 | 130.35 USD Mn | 85.35 USD Mn | 45.00 USD Mn |
| 2023 | 137.37 USD Mn | 90.04 USD Mn | 47.33 USD Mn |
| 2024 | 145.65 USD Mn | 95.57 USD Mn | 50.09 USD Mn |
| 2025 | 155.38 USD Mn | 102.05 USD Mn | 53.32 USD Mn |
| 2026 | 166.75 USD Mn | 109.63 USD Mn | 57.11 USD Mn |
| 2027 | 180.02 USD Mn | 118.48 USD Mn | 61.54 USD Mn |
Data Source: Wantstats Repository
Growth Outlook
- The 2027] by North America portion of the Global Formic Acid market [2014 market is on a steady long-term growth path. Segment value stands at roughly USD 333 Mn in 2026 and is projected to reach USD 360 Mn by 2027 — a gain of about 8% over the forecast period, translating to a CAGR in the high single digits.
- United States accounted for the larger market share in 2015 in the North America formic acid market, and is expected to reach USD 118. 48 Million in 2027 from USD 69.
- What the regional split looks like (2026): North America leads, holding roughly 50% of segment value — the single largest regional share. United States is the second-largest contributor. Canada make up the remainder, in descending order.
- By 2027, North America alone is expected to reach USD 180 Mn, with United States at USD 118 Mn.
Market Dynamics
United States accounted for the larger market share in 2015 in the North America formic acid market, and is expected to reach USD 118.48 Million in 2027 from USD 69.79 Million in 2015.This market is projected to grow at a CAGR of 4.83% during the forecast period from 2016 - 2027. animal feed segment accounted for the largest market share in 2015, this market is expected to reach USD 55.03 Million in 2027 from USD 31.19 Million in 2015. This market is projected to grow at a CAGR of 5.17% during the forecast period from 2016 - 2027. However, animal feed segment is the fastest growing market, which is expected to grow at a CAGR of 5.17% during the forecast period 2016 - 2027. carbonylation of methanol segment accounted for the larger market share in 2015, this market is expected to reach USD 124.34 Million in 2027 from USD 74.45 Million in 2015. This market is projected to grow at a CAGR of 4.69% during the forecast period from 2016 - 2027. However, oxalic acid segment is the fastest growing market, which is expected to grow at a CAGR of 4.80% during the forecast period 2016 - 2027.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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