Latest Formic Acid Prices, Price Trend, Supply & Demand Data

North America Formic Acid Prices Movement Last Quarter:

Formic Acid Prices in the United States:

In Q2, formic acid prices in the United States fluctuated significantly, reaching $830 per metric ton by the end of the quarter. The price increase was primarily driven by strong manufacturing activity and rising seasonal demand from key industries, such as preservatives and adhesives, which rely heavily on formic acid. Low inventory levels in the market further intensified upward price pressure, as suppliers struggled to meet the consistent demand. Despite global economic challenges, steady methanol supplies from neighboring regions, including Mexico, provided some relief, preventing sharper price spikes. By the close of the quarter, the market began to stabilize as inventory levels improved and demand normalized, reflecting a balance between supply and consumption dynamics.

APAC Formic Acid Prices Movement Last Quarter:

Formic Acid Prices in Japan:

During Q2, formic acid prices in Japan experienced a notable decline, settling at $460 per metric ton by the end of the quarter. This downward trend was largely attributed to reduced industrial activity during the warmer season, which curtailed demand from key sectors such as adhesives and textiles. The market also faced an oversupply of methanol, a critical feedstock, which exerted additional pressure on prices. Buyers adopted a cautious approach, limiting their stock acquisitions amid uncertainty in the market, further weakening demand. These factors combined to create a challenging environment for the formic acid market, leading to sustained price reductions and highlighting the sensitivity of the sector to shifts in industrial and purchasing dynamics.

MEA Formic Acid Prices Movement Last Quarter:

Formic Acid Prices in Saudi Arabia:

In Q2, formic acid prices in Saudi Arabia saw a significant decline, settling at $580 per metric ton by the end of the quarter. The drop was primarily attributed to overstocking, as high inventory levels from previous production cycles led to an oversupplied market. Weak demand from key sectors, such as textiles and adhesives, further exacerbated the situation, as reduced industrial activity curtailed the need for formic acid. Seasonal factors also played a role, with lower production activity during the warmer months dampening consumption rates. Additionally, falling crude oil prices contributed to a decrease in production costs, which placed additional downward pressure on formic acid prices. These combined factors created a challenging market environment, with prices continuing to reflect the imbalance between supply and demand throughout the quarter.

South America Formic Acid Prices Movement Last Quarter:

Formic Acid Prices in Brazil:

In Q2, formic acid prices in Brazil declined to $765 per metric ton, reflecting a challenging market environment driven by oversupply, weak demand, and seasonal factors. Key sectors, including textiles, exhibited cautious purchasing behaviour, with companies avoiding large stock acquisitions due to subdued market conditions. The oversupply of formic acid, compounded by limited trading activity, added further pressure to prices, while seasonal slowdowns reduced industrial demand. This combination of factors created a bearish market sentiment, leading to significant price reductions and highlighting the difficulties faced by the formic acid industry in Brazil during the quarter.

How the IMARC Pricing Database Can Help

The latest IMARC Group study, "Formic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data 2024 Edition," presents a detailed analysis of Formic Acid price trend, offering key insights into global Formic Acid market dynamics. This report includes comprehensive price charts, which trace historical data and highlights major shifts in the market.

The analysis delves into the factors driving these trends, including raw material costs, production fluctuations, and geopolitical influences. Moreover, the report examines Formic Acid demand, illustrating how consumer behavior and industrial needs affect overall market dynamics. The price report uncovers critical factors influencing current and future prices by exploring the intricate relationship between supply and demand.

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