Formic acid is a simple organic acid with the chemical formula HCOOH. It is a colorless liquid with a strong pungent odor and is widely used in many fields such as industry, agriculture and laboratories.
Formic acid has important industrial applications. For example, it is often used as a solvent, dissolving a wide range of organic and inorganic substances. Due to its excellent solubility, formic acid is widely used in the manufacturing of dyes, coatings, rubber, and plastics. Formic acid also acts as a reducing agent in certain chemical reactions.
In agriculture, formic acid is used as a feed additive to improve animal feed utilization. Its antimicrobial properties can inhibit the growth of certain harmful microorganisms, thereby improving animal health and production performance. Formic acid can also be used to improve soil and promote plant growth.
Formic acid is primarily used in the textile industry as a dye additive. It helps dyes penetrate fibers better, improving dyeing uniformity and color durability. Formic acid can also be used to treat fabrics, increasing their durability and wrinkle resistance.
The commodity market analysis system shows that the price of formic acid has been on the rise recently. As of August 4, the domestic 85% industrial-grade formic acid increased by 29.17% month-on-month and increased by 13.76% compared with the same period last year.
Both supply and demand are driving price increases.
Supply: Manufacturers’ continued control over production has tightened supply, resulting in a current market shortage.
Demand: Export demand is increasing, and the market is currently in an export cycle, leading to tight inventory.
Methanol, a raw material, is experiencing volatile trading.
The domestic methanol market is showing signs of recovery. Northwest olefins plants are increasing external procurement. Coupled with favorable factors such as ongoing maintenance at some units and low inventories, upstream companies are holding prices high, with downstream companies passively following suit.
Formic acid is currently in a tight supply market, but there is still upward momentum. Further price increases are expected, but market trends remain a priority.
Post time: Aug-05-2025