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Formic Acid prices inch up in Mumbai market | |
Formic acid prices in the Mumbai market were sharply up today. The price, which was previously at Rs. 62/kg, increased by Re.1/kg today, reaching Rs. 63/kg The incline is attributed to strong upstream demand, particularly from leather processing, textiles, and rubber chemicals, as well as stable to improved domestic supply levels. Formic acid (HCOOH) is a colorless, pungent-smelling carboxylic acid, commonly used in: Leather tanning and preservation, Textile dyeing and finishing, Rubber coagulants, Crop protection chemicals (as a silage preservative)and Pharmaceutical intermediates. Key Indian Manufacturers: Rashtriya Chemicals & Fertilizers (RCF), Laxmi Organic Industries and Clean Science & Technology Ltd. International Suppliers: BASF – Germany (leading global producerPerstorp Holding AB – Sweden Eastman Chemical – USA Feicheng Acid Chemicals – China. India imports a moderate quantity of formic acid, largely from China and Europe, especially when domestic production dips or for high-purity grades. Market Outlook & CAGR The global formic acid market was valued at USD 1.5 billion in 2023 and is expected to grow at a CAGR of 4.8% from 2024 to 2029. Growth is driven by the expanding agriculture, leather, and rubber industries, especially in emerging economies. In India, growth is steady, but seasonal demand from the rubber and crop protection sectors may influence pricing patterns in Q2 2025, Formic acid Prices In India, Indian Formic acid Prices, Indian Prices Formic acid, Indianpetrochem. #Formicacidpricesinindia #IndianFormicacidprices #IndianpricesFormicacid #Indianpetrochem | |
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| Target State: All States Target City : Delhi, Ahamdabad and Mumbai Last Update : 01 May 2025 7:37 PM Number of Views: 5 | Item Owner : indianpetrochem Contact Email: Contact Phone: (None) |
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2025-05-01 (0.935 sec)