Formic Acid Price
Formic Acid
Formic acid’s chemical formula is HCOOH, making it the simplest carboxylic acid. It is composed of a single carbon atom, bonded to a hydroxyl group (-OH) and a hydrogen atom. Here’s why this simplicity matters: its small structure gives the acid unique reactivity, making it useful in chemical reactions like reduction and acidification.
Some key chemical characteristics include:
- Molar Mass: 46.03 g/mol
- Melting Point: 8°C
- Boiling Point: 101°C
- Acidity: It has a pKa of 3.75, signifying its strength as a weak acid.
Its reactivity allows it to be used as both an oxidizing and reducing agent in industrial processes. This dual nature makes formic acid versatile for applications ranging from material synthesis to biochemical research.
For further information, you can explore PubChem’s entry on Formic Acid or ScienceDirect’s overview of Formic Acid.
Carbon Dioxide
In some modern methodologies, carbon dioxide is used as a feedstock for synthesizing formic acid. Carbon dioxide is captured and reacted with hydrogen to produce this essential acid, aligning with initiatives to reduce greenhouse gas emissions. This method showcases an evolving trend in green chemistry.
If you’re curious about using carbon dioxide as a raw material, explore this process on ScienceDirect.
| Year | Average Price (CNY/ton) | Remarks |
|---|
| 2020 | ~3000 | Prices fluctuated due to the impact of the pandemic. |
| 2021 | ~3200 | Market recovery led to a slight increase in prices. |
| 2022 | ~3500 | Tight supply caused prices to rise. |
| 2023 | ~3300 | Prices slightly dropped as the market stabilized. |
| 2024 | ~2850 | Recent price drop as the market adjusts. |
Formic acid import and export situation and price in China
According to the latest market data, on January 13, 2024, the average market transaction price of 85% formic acid was 2,850 yuan/ton, down 150 yuan/ton from the previous working day, a drop of 5%.
From January to August 2023, China’s formic acid exports were 190,013.57 tons, the export value was US$116,727,600, and the average export price was about US$61.72/ton. During the same period, the import volume was 11.09 tons, the import value was US$653,100, and the average import price was about US$5,889.91/ton.
From the perspective of import sources, China mainly imports formic acid from the United States, Czech Republic, Spain, Germany, Finland, France, Japan, Israel, Switzerland, Belgium and other places.
From the perspective of export destinations, China’s formic acid is mainly exported to the Netherlands, India, Turkey, Norway, Vietnam, Italy, Brazil, Spain, Russia, Pakistan and other places.
Please note that the above data is as of August 2023, and the actual import and export situation may change.
Global import and export situation:
According to international trade statistics, the main producers and exporters of formic acid include China, the United States, Germany, India and Russia.
China is one of the major producers and exporters of formic acid in the world, and its export volume accounts for a large share of the global market.
In terms of imports, the main importers include Japan, South Korea, Brazil and South Africa.
Formate Salts
Formate salts, such as sodium or calcium formate, can also serve as intermediates in formic acid production. These compounds are either used as feedstocks or by-products that are reintroduced into the supply chain, ensuring minimal waste and maximum efficiency.
- Advantages of Formate Salts:
- Easy to handle and store.
- Provide a stable source of carbon and oxygen.
Understanding the exact role of these salts further contextualizes the science behind formic acid’s production methods. Review detailed insights on Wikipedia.
Catalysts
Although not classified as raw materials, catalysts like palladium or nickel play a significant role in enhancing production processes. They lower the energy required for chemical reactions, making the process more sustainable and economical.
By focusing on these core raw materials, manufacturers optimize production outcomes while mitigating environmental and economic risks. As formic acid continues to find applications across diverse industries, refining these inputs will define its future production costs and market trends.
Formic Acid Price Trends in January 2025
In January 2025, the formic acid market demonstrated relative stability despite ongoing global economic challenges. Prices averaged 2,950 RMB/ton in China, as reported on SunSirs, showcasing minimal fluctuations compared to December 2024. Such stability is crucial for industries reliant on formic acid, including agriculture, leather, and chemical manufacturing. Below, we dive deeper into price trends, regional variations, and the underlying factors shaping the market.
Price Stability and Historical Context
January 2025 upheld a trend of pricing steadiness in the formic acid market. Comparing data from January 2024, where prices hovered around 3,150 RMB/ton, we notice a 6.35% decrease in the current year. While this decline reflects a lower cost base, it’s worth mentioning that the price rose slightly—by 0.85%—from December 2024 levels (2,925 RMB/ton).
Key contributors to this stability include:
- Stable methanol costs: Methanol, a key raw material in formic acid production, maintained consistent prices.
- Controlled production: Manufacturers adjusted output to prevent surplus.
- Sluggish downstream demand: Industries like rubber and pharmaceuticals exhibited modest purchasing activity.
Given these factors, the market’s stability is unsurprising. However, indicators from sources like Procurement Resource suggest that minor price adjustments may occur if global supply or demand dynamics shift.
Global Price Variations
Price trends for formic acid vary significantly across regions, influenced by freight costs, local demand, and economic conditions. For instance:
- China: Prices remained steady at 2,950 RMB/ton. Proximity to key raw materials and production hubs helps maintain lower costs.
- Europe: In Western Europe, prices are generally higher due to increased environmental regulations and manufacturing standards.
- United States: Prices are influenced by import costs and supply volatility, often reflecting seasonal fluctuations.
Why do these differences matter? Freight costs and import/export taxes often make up a sizable portion of the final price. For manufacturers, understanding these nuances is essential to stay competitive globally. A detailed analysis of historical prices can be found via the Formic Acid Price Index.
Key Factors Influencing Current Prices
Several primary factors shaped formic acid pricing in January 2025:
- Raw Material Costs
Methanol prices remained stable, bolstering price consistency for formic acid. However, fluctuations in related feedstocks like carbon monoxide could alter this balance in the future. - Downstream Demand
Sectors such as agriculture, where formic acid functions as a preservative, showed steady but uninspiring demand. Similarly, the leather and rubber industries reported no significant uptick in purchasing activity. - Market Stock Levels
With moderate inventory levels, manufacturers avoided price hikes driven by scarcity. This strategy helps maintain buyer confidence and averts long-term volatility.
While the market may remain stable in the short term, any shifts in these factors could ripple across global supply chains. To better understand historical and current drivers, visit Intratec’s Formic Acid Pricing Database.
By closely monitoring these elements, stakeholders can make more informed decisions in procurement and pricing strategies.
Production Methods and Market Dynamics
Understanding how formic acid is produced and traded globally provides valuable insights into its pricing. From innovative production techniques to global market growth, every aspect impacts its value and availability.
Industrial Production Processes
The production of formic acid has evolved significantly, moving from traditional methods to more advanced industrial technologies. Today, the most common methods include:
- Methanol Carbonylation: A highly efficient and widely adopted modern approach. Methanol reacts with carbon monoxide, producing methyl formate, which is then hydrolyzed into formic acid. This method is both cost-effective and scalable, making it a favorite for industrial use. Learn more about the process on Wikipedia.
- Hydrolysis: Another popular method involves hydrolyzing formate esters derived from methanol activation. This technique is preferred where renewable raw materials are prioritized but requires careful conditions to achieve high yields.
- Older Methods: Historically, formic acid was made through sulfuric acid’s interaction with sodium formate. While largely phased out for being less efficient, it set the stage for modern advancements. Older methods served niche purposes and are still relevant in some industrial setups. Dive deeper into the evolution of these techniques in this detailed report.
The industry keeps innovating, introducing processes like carbon dioxide recycling, which align with sustainability goals. Each method impacts costs, production capacities, and environmental compatibility, influencing market trends.
Global Market Growth
The global formic acid market has been growing steadily. Estimated at $2.32 billion in 2024, it’s expected to hit $3.78 billion by 2034, climbing at an average 3.3% annual growth rate, according to Precedence Research.
Key contributors to this growth include:
- Major Producing Countries: China stands as the largest producer, thanks to its robust manufacturing infrastructure and abundant raw materials. Europe also plays a considerable role, especially in niche, high-purity production.
- Import and Export Markets: Asia-Pacific dominates global exports, while North America and the European Union serve as major importers. Demand is fueled by agriculture, leather, and pharmaceutical applications.
- Expanding Applications: Uses in eco-friendly products and as a feedstock in green chemistry are driving demand. Read more on these market dynamics in Market Research Future’s comprehensive report.
These trends underscore the growing importance of formic acid in diverse industries, shaping its pricing and availability globally.
Storage and Transportation
The handling of formic acid requires careful attention to safety and storage protocols. Its corrosive nature poses challenges that must be addressed during shipping and storage.
Key considerations include:
- Storage Guidelines:
- Containers: Use tightly sealed, corrosion-resistant materials—typically plastic with self-venting caps.
- Conditions: Store in cool, dry, well-ventilated spaces, avoiding exposure to direct sunlight and incompatible substances.
Detailed safety recommendations can be found in this Material Safety Data Sheet.
- Transportation Challenges:
- Hazards: Formic acid is highly reactive. Special sealed containers and proper labeling are essential to prevent leaks or spills.
- Regulatory Compliance: Transport is subject to strict regulations to prevent accidents and environmental damage.
With proper measures, formic acid can be safely stored and transported, ensuring its availability in markets worldwide. Explore more about handling protocols here.
Understanding these logistical dynamics allows suppliers and buyers to minimize risks and optimize distribution strategies.
Future Outlook for Formic Acid Prices
The future of formic acid prices remains a focal point for industries worldwide. Shifts in production, trade flows, and economic conditions are likely to influence the price trajectory in both the short- and long-term. Below, we’ll discuss the short-term expectations and global import/export dynamics that play critical roles in shaping future pricing.
Short-Term Outlook: Focus on expected price stability and monitoring of market conditions
In the immediate future, formic acid pricing is expected to remain relatively stable. This stability hinges on consistent costs for raw materials like methanol and steady supply-demand dynamics in downstream markets such as agriculture and rubber manufacturing. Why is this important? Price predictability allows businesses to manage their procurement strategies effectively, avoiding unnecessary cost escalations.
Key factors to watch in the short term include:
- Raw Material Pricing: Methanol prices are expected to hold steady, serving as a stabilizing force for formic acid manufacturing.
- Moderate Demand: While sectors like leather processing and agriculture remain steady users, no sudden surges in demand are anticipated.
- Global Manufacturing Trends: Formic acid producers are likely to regulate output to prevent oversupply, ensuring price consistency.
However, potential uncertainties could emerge. Changes in economic conditions, raw material shortages, or energy price spikes might shift this expectation. Reports such as Chemanalyst’s Formic Acid Price Trend provide real-time updates on pricing, essential for businesses tracking fluctuations.
Formic acid import and export situation around the world
Formic acid’s trade flows contribute significantly to its overall pricing. Export-heavy nations, like China and Germany, dominate global supply, while import-reliant regions, such as North America and parts of Europe, create demand-driven pricing pressures.
Top Exporters
China leads the pack as the largest exporter, with shipments valued at over $208 million in 2022. Other notable exporters include:
- Germany: A major supplier for high-purity formic acid.
- Finland: Known for its eco-friendly production methods.
- Netherlands and the US: Adding to the export competitiveness.
For a detailed breakdown, check OEC’s report on formic acid trade.
Top Importers
Regions like India, Vietnam, and Russia dominate import markets due to heavy industrial needs. Their collective demand drives global trade. For instance, India alone imported over 28,795.75K USD worth of formic acid in 2021. Learn more about these trade patterns on WITS Database.
Global Trade Trends
Trade flows often get swayed by geopolitical events and regulatory changes. Trade barriers or fluctuating freight costs could quickly reshape patterns, ultimately influencing local and global prices. For example, the Netherlands and European Union gain an edge as hubs for both import and export due to their well-developed infrastructure. Explore recent stats on these dynamics via TrendEconomy.
Understanding export-import flows allows businesses to anticipate pricing shifts better and adjust sourcing strategies efficiently. Formic acid’s global trade is not just about numbers but also about how these flows align with demand cycles across regions. Keep an eye on volatility—it’s often a sign of major market development
