Global Methyl Formate Market Size is expected to attain USD 982.6 Million by 2035 | CAGR of 5.8%
Category: Chemicals & MaterialsGlobal Methyl Formate Market Size is expected to attain USD 982.6 Million by 2035
According to a Research Report Published by Spherical Insights & Consulting, The Global Methyl Formate Market Size is anticipated to Grow from USD 528.4 Million in 2024 to USD 982.6 Million by 2035, at a CAGR of 5.8% during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "Global Methyl Formate Market Size, Share, and COVID-19 Impact Analysis, By Source of Production (Synthetic Production and Biobased Production), By Application (Solvent in Chemical Processes, Intermediate in Esters Production, Agricultural Chemicals, Pharmaceuticals, Plasticizers, and Others), By End-Use (Chemicals Industry, Agriculture, Pharmaceuticals, Automotive, Textiles, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/methyl-formate-market
Methyl formate is a colorless, volatile, and highly flammable ester that functions as an essential chemical intermediate and eco-friendly solvent. It is primarily used in producing formic acid and N, N-dimethylformamide (DMF). Its application as a low-global-warming blowing agent in polyurethane foams for construction and automotive sectors highlights its environmental benefits. Market expansion is driven by demand for sustainable solvents in coatings, adhesives, and cleaning products, alongside growth in pharmaceuticals and agrochemicals. Emerging opportunities include its use in lithium-ion batteries as a specialized solvent and electrolyte. Additionally, advances in bio-based production methods and the push for zero-GWP solutions further stimulate global demand across industrial and high-tech applications. The methyl formate market is challenged by high production costs due to fluctuating methanol and carbon monoxide prices.
The synthetic production segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the source of production, the methyl formate market is divided into synthetic production and biobased production. Among these, the synthetic production segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Synthetic methods offer precise control over reactions and yields, meeting increasing demand from polymers, coatings, and agrochemicals. Ongoing investments in facilities and sustainable technologies keep synthetic production the primary source of high-quality methyl formate globally.
The solvent in chemical processes segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the methyl formate market is divided into solvent in chemical processes, intermediate in esters production, agricultural chemicals, pharmaceuticals, plasticizers, and others. Among these, the solvent in chemical processes segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Methyl formate’s use in coatings, adhesives, and chemical intermediates enhances its market presence. Its effectiveness in reactions and blending, along with rising sustainable formulations, drives continued demand for this versatile solvent globally.
The chemicals industry segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end-use, the methyl formate market is divided into chemicals industry, agriculture, pharmaceuticals, automotive, textiles, and others. Among these, the chemicals industry segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Methyl formate’s adaptability to large-scale production and eco-friendly formulations boosts its importance. Expanding industrial chemical output and focus on cleaner synthesis reinforce the sector’s leading role, driving widespread methyl formate usage.
Asia Pacific is expected to hold the majority share of the global methyl formate market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global methyl formate market during the forecast period. Asia Pacific is expected to dominate the market due to rapid industrialization, expanding chemical, pharmaceutical, and agrochemical sectors, increasing adoption of sustainable solvents, strong infrastructure development, and supportive government regulations, with countries like China, India, and Japan driving significant regional growth.
North America is anticipated to grow at the fastest pace in the global methyl formate market during the forecast period. North America is expected to grow rapidly in the market due to rising demand for eco-friendly solvents, expansion of pharmaceutical and chemical industries, strict environmental regulations, and increased adoption of low-VOC and sustainable chemical solutions.
Major vendors in the global methyl formate market are BASF SE, Eastman Chemical Company, Mitsubishi Gas Chemical Company, Rao A. Group, Trivella Chemicals, Jiangsu Sopo (Group) Co., Ltd., Chevron Chemical Company, LyondellBasell, Sigma-Aldrich, Tradex Corporation, UBE Industries, Ltd., Shandong, Jinling Chemical Co., Ltd., Dayang Chem (Hangzhou) Co., Ltd., Rashtriya Chemicals & Fertilizers Ltd, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In February 2025, Mitsubishi Gas Chemical Company (MGC), Methanol Reformer S.L., and Element 1 Corp. signed a Memorandum of Understanding to collaborate on developing and commercializing hydrogen solutions using innovative methanol reforming technology, aiming to advance sustainable energy applications and strengthen the adoption of methanol-to-hydrogen systems globally.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the methyl formate market based on the below-mentioned segments:
Global Methyl Formate Market, By Source of Production
- Synthetic Production
- Biobased Production
Global Methyl Formate Market, By Application
- Solvent in Chemical Processes
- Intermediate in Esters Production
- Agricultural Chemicals
- Pharmaceuticals
- Plasticizers
- Others
Global Methyl Formate Market, By End-Use
- Chemicals Industry
- Agriculture
- Pharmaceuticals
- Automotive
- Textiles
- Others
Global Methyl Formate Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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