Yes, our Multi-Surface Paint Touch Up will work for this application. Because formica is so smooth, we recommend that you gently scuff and/or sand the spot first (this will allow for best adhesion), and of course you will also want to wash and thoroughly dry the area, to remove any dirt, dust, grease, water, etc., for best results (our Shop Cleaner + Degreaser or our Multi-Surface Spray Cleaner work well for this, and they are available in five sophisticated scents as well as unscented). We also recommend at least two coats, and you may want to do several coats, letting dry between applications, for maximum durability.
If the damaged area is not very deep, that is all you may need to do. If there is an indentation or groove, the paint will visually cover the spot, but won't fill the indentation, so you may wish to use a filler such as Soto's Appliance + Porcelain 8-piece Epoxy Repair Kit to fill in the spot, and then cover with the paint to hide the defect.
