Formic Acid (HCOOH) is a chemical compound comprising a carboxylic acid group attached to its base atom. It is also known as methanoic acid, which is the simplest acid that occurs naturally and is commonly found in ant stings or the venom of bees.

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The boiling and melting point of methanoic acid measures around 100.8° C and 8.6° C, respectively. It is a fluid with a pungent odor and is soluble in water, ethyl alcohol, and benzene. It is also slightly corrosive in nature and is an organic synthetic reagent that is efficiently used as an intermediate in several chemical synthesis processes.

The key importing countries that import Formic Acid are India, the Netherlands, and Brazil. On the other hand, the key exporting countries for the same are Germany, Belgium, and China.

Key Details About the Formic Acid Price Trend:

Formic acid, a vital organic compound with diverse industrial applications, is witnessing intriguing price trends influenced by a myriad of factors. From its role as a preservative and antibacterial agent in animal feed and silage to its significance in leather tanning, textile dyeing, and rubber production, formic acid holds a pivotal position in multiple industries. Recent trends in formic acid prices reflect the interplay of factors such as raw material availability, production capacity, demand-supply dynamics, and evolving regulatory landscapes.

Furthermore, its utility in eco-friendly processes, such as biofuels production and waste treatment, adds an additional layer of complexity to its price trajectory. As industries continue to explore sustainable alternatives and embrace green technologies, the demand for formic acid is poised to witness further evolution, shaping its pricing dynamics in the coming years.

Industrial Uses Impacting Formic Acid Price Trend:

Formic Acid, which is also known as methanoic acid, acts as a crucial intermediate in several chemical synthesis processes. It is primarily used as an antibacterial and preservative agent for producing livestock feeds. Due to its antibacterial properties, it is sprayed over fresh hays or silage, which helps the feed retain its nutritional values for longer.

Moreover, the pharmaceutical industry uses Formic Acid as foaming paste, local stimulation drugs, and astringent. It is also used as a raw material in manufacturing chemicals like camphor, caffeine, analgin, aminophylline, toluene imidazole drugs, vitamin B1, carbamazepine, and aminopyrin drugs. In the leather industry, Formic Acid is used as a leather depilation, ash removal, and soft and expansion agent, which is used in disinfection and dyeing.

Formic Acid is used in various applications, where it is used as a raw material in textile, chemical, pharmaceutical, medical, agricultural, electroplating, and leather industries.

Key Players:

  • Feicheng Acid Chemicals Co. Ltd
  • Taminco Corporation
  • Perstorp AB

News & Recent Development

  • Date: May 12, 2023- A study conducted by Tobias Erb, resulted in the development of an artificial metabolic pathway to produce formaldehyde, which is an intermediary product for artificial photosynthesis, using Formic Acid.

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