Formic Acid Price Trend

Formic Acid Trend, Index and Forecast

Track the latest insights on formic acid price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Formic Acid Prices Outlook Q2 2025

• USA: US$ 970/MT
• Japan: US$ 416/MT
• India: US$ 830/MT
• Saudi Arabia: US$ 575/MT
• Brazil: US$ 695/MT

Formic Acid Price Chart

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During the second quarter of 2025, the formic acid prices in the USA reached 970 USD/MT in June. Formic acid prices in the USA this quarter were primarily influenced by shifts in feedstock methanol costs, which were affected by natural gas availability and refinery output variations. Demand patterns from the leather tanning and agriculture sectors were impacted by fluctuating downstream consumption trends. Transportation bottlenecks in key logistics corridors disrupted regional supply consistency. Additionally, limited domestic production capacity adjustments, combined with import dependency, made pricing more sensitive to international market movements and port-side inventory dynamics.

During the second quarter of 2025, formic acid prices in Japan reached 416 USD/MT in June. Japanese prices of formic acid this quarter were influenced by a combination of upstream methanol cost trends, domestic production fluctuations, and international trade dynamics. Feedstock methanol witnessed variable import costs due to currency exchange rate movements and freight rate adjustments, directly affecting production expenses. Additionally, output levels among local producers were impacted by scheduled maintenance activities. On the demand side, purchasing volumes from the textile and rubber industries remained steady, while the agricultural sector showed periodic surges tied to seasonal pesticide usage. Meanwhile, import offers from neighboring Asian countries exerted pressure on local price negotiations, particularly as buyers explored lower-cost regional alternatives.

During the second quarter of 2025, the formic acid prices in India reached 830 USD/MT in June. Formic acid pricing in India was significantly influenced by fluctuations in methanol input costs, which were affected by variations in global crude benchmarks and shipping freight charges. Demand from the rubber and agricultural sectors experienced seasonal variation, while regional logistic disruptions slowed distribution to northern and eastern markets. Import flows were also constrained by port congestion and changing customs clearance timelines. These factors collectively exerted pressure on the procurement costs for domestic buyers and distributors.

During the second quarter of 2025, the formic acid prices in Saudi Arabia reached 575 USD/MT in June. In Saudi Arabia, the pricing of formic acid this quarter was affected by changes in methanol feedstock availability, driven by upstream production schedules and refinery throughput. Demand from the livestock feed preservation and leather processing industries remained steady. Export-oriented supply dynamics also influenced domestic availability, as producers responded to external market opportunities. Transport cost changes within the GCC region and fluctuations in utility input expenses further shaped production economics and overall price movements.

During the second quarter of 2025, the formic acid prices in Brazil reached 695 USD/MT in June. Formic acid prices in Brazil were impacted by cost variability in imported methanol, influenced by international shipping delays and currency depreciation. The agricultural sector, particularly in silage and pesticide formulations, sustained robust demand. Local production remained limited, causing dependence on imports from Asia and Europe. Port strikes and logistical inefficiencies across key south-eastern terminals disrupted supply chains. These conditions, coupled with rising warehousing and compliance costs, intensified procurement challenges for regional buyers.

Formic Acid Prices Outlook Q2 2024

• United States: US$ 830/MT
• Japan: US$ 460/MT
• Saudi Arabia: US$ 580/MT
• Brazil: US$ 765/MT

The formic acid prices in the United States for Q2 2024 reached 830 USD/MT in June. The price of formic acid in the United States fluctuated significantly, rising gradually due to stronger manufacturing and seasonal demand. The growing activity in the preservative and adhesives industries supported demand despite global economic difficulties. This increased trend was aided by low levels of inventory and consistent methanol transfers from nearby locations, such as Mexico, with pricing stabilizing toward the end of the quarter.

The price trend for formic acid in Japan for Q2 2024 settled at 460 USD/MT in June. Due to decreased industrial activity during the warmer season, the formic acid market in Japan saw notable price changes in Q2 2024. The decreasing trend was exacerbated by an oversupply of methanol and decreased demand from downstream industries, such as adhesives and textiles. Price reductions persisted throughout the quarter as a result of buyers' cautious approach to purchases.

In Saudi Arabia, the formic acid prices for Q2 2024 reached 580 USD/MT in June. Due to overstocking and weak demand, formic acid prices in Saudi Arabia experienced significant drops in Q2 2024. This fall was caused by seasonal factors as well as decreased activity in industries like textiles and adhesives. Production costs were driven down by plentiful stockpiles and falling crude oil prices, which furthered the formic acid market's downward trend in the region.

The price trend for formic acid in Brazil for Q2 2024 settled at 765 USD/MT in June. Brazil's formic acid market was under a lot of downward pressure due to a surplus of supply and low demand. In sectors like textiles, cautious buying and limited demand exacerbated the price decline. Limited trading and seasonal conditions reflected the general pessimism that pervaded the Latin American market.

Formic Acid Prices Outlook Q4 2023

• USA: US$ 842/MT
• China: US$ 498/MT
• Germany: US$ 820/MT
• Saudi Arabia: US$ 673/MT
• Brazil: US$ 822/MT

The formic acid prices in the United States for Q4 2023 reached 842 USD/MT in December. The market continued to decline, marked by reduced demand and sluggish purchasing activities. Buyers remained cautious, limiting bulk purchases, and leading to increased inventories. This imbalance in supply and demand pressured prices downward, reflecting the broader economic challenges and subdued manufacturing output across the region.

The price trend for formic acid in China for Q4 2023, reached 498 USD/MT in December. The market showed a flat trend with limited purchasing activity. Ample inventory levels and cautious buying behavior from downstream industries kept the market stable but sluggish. Despite discounts from suppliers to encourage sales, the overall market sentiment remained reserved, maintaining a steady but slow trading environment without significant price movements.

The price trend for formic acid in Germany for Q4 2023, reached 820 USD/MT in December. The market faced sluggish demand and subdued trading activity. With sufficient supply and minimal downstream interest, prices remained low. Market players continued to navigate a challenging environment, with exports increasingly directed to the Middle East, attempting to stabilize the domestic market amidst fluctuating demand and cautious economic outlooks.

The price trend for formic acid in Saudi Arabia for Q4 2023, reached 673 USD/MT in December. The market witnessed reduced demand, with stable to low offers reflecting a cautious trading environment. Ample stock levels and decreased manufacturing rates contributed to a subdued market. Despite some cost pressures from upstream influences, the market remained weak, with suppliers focused on managing inventories amid uncertain demand.

The price trend for formic acid in Brazil for Q4 2023, reached 822 USD/MT in December. The market in Brazil experienced a downturn, influenced by weak demand and cautious market sentiment. With ample stock levels and minimal buying interest from downstream sectors, prices remained pressured. The market conditions reflect broader economic uncertainties and high interest rates, prompting producers to adjust production rates to balance the oversupplied market.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the formic acid prices.

Global Formic Acid Price Trend

The report offers a holistic view of the global formic acid pricing trends in the form of formic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of formic acid, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed formic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Formic Acid Price Trend

Q2 2025:

As per the formic acid price index, European prices maintained high levels due to finite supplies. Production output was hampered by maintenance plans at refineries. Overall consumption did not significantly increase in spite of these supply-side issues, especially in the agricultural input segment. The market remained solid due to stable usage and limited availability. As a result, sustained supply pressures and steady downstream demands supported the formic acid market's steady trajectory throughout the time frame.

Q2 2024:

Higher methanol costs and supply chain restrictions were the main drivers of the small increase in formic acid prices in Europe during the second quarter of 2024. Feedstock costs kept rising, while logistical problems most notably, Red Sea interruptions and shipping capacity limitations—strained supply and drove up prices in June. Due to growing manufacturing costs, producers maintained their price stance even while textile and adhesive demand remained modest. The most obvious price swings occurred in Germany, where demand is usually increased by rise in industrial activities during summers. Overall, the quarter saw a steady and slow rise, reflecting market optimism.

Q4 2023:

In Europe, the formic acid market faced a sluggish quarter with trading activities primarily conducted on an immediate basis. Muted demand and minimal purchases pressured producers to maintain stable pricing, occasionally offering discounts to stimulate interest. Despite the incentives, overall market activity remained low, with no significant offers or bids emerging from suppliers. The German market, in particular, witnessed prices reach their lowest levels of the year, with subdued demand from downstream sectors like preservatives and adhesives. The adequate supply levels across Europe have kept demand suppressed, with German exports increasingly diverted to Middle Eastern markets, adding to the subdued trading atmosphere.

This analysis can be extended to include detailed formic acid price information for a comprehensive list of countries.

North America Formic Acid Price Trend

Q2 2025:

As per the formic acid price index, in North America, the market was influenced by fluctuations in methanol feedstock costs, which were shaped by natural gas market dynamics and domestic refinery throughput rates. Demand remained steady across the agriculture, textile, and rubber sectors, though regional weather patterns impacted seasonal purchasing volumes. Logistical constraints, including truck driver shortages and intermodal congestion, affected delivery timelines. Additionally, trade-related uncertainties surrounding chemical imports contributed to cost variability, particularly for buyers dependent on overseas suppliers.

Q2 2024:

Prices for formic acid in North America fluctuated throughout the second quarter of 2024, going from a decline in April to a spike in demand in June. At first, the market saw price drops as buyers were wary and there were fewer derivative orders in the preservative industry. Moreover, requirements from the textile sector also declined. However, demand increased in June as a result of downstream markets like dye and adhesives intermediates stabilizing. Stable methanol prices, reinforced by transactions in nearby regions, provided a strong basis for this upward change. Low inventory levels and increased international trading further supported prices.

Q4 2023:

In North America, the formic acid market experienced a decline in prices this quarter compared to the previous one. The market's sluggishness continued as demand remained weak, with a noticeable dip in manufacturing activities. Buyers hesitated to make bulk purchases, leading to increased stock levels, and putting pressure on producers to clear their inventories by year-end. The market imbalance, caused by an oversupply of formic acid, has resulted in a continued downward pricing trend. As supplies increased, demand did not follow, causing prices to steadily drop across the region, reflecting the ongoing challenges faced by suppliers in adjusting to the sluggish market conditions.

Specific formic acid historical data within the United States and Canada can also be provided. 

Middle East and Africa Formic Acid Price Trend

Q2 2025:

As per the formic acid price chart, prices in the Middle East and Africa, particularly in Saudi Arabia, were shaped by stable demand from the livestock preservation, textile processing, and leather treatment industries. Feedstock methanol pricing experienced variation due to upstream refinery adjustments and domestic fuel policy changes. Export activity remained high, limiting regional availability. Freight fluctuations within the GCC and North Africa added to procurement costs. Additionally, water and utility expenses influenced production margins, particularly for integrated chemical facilities.

Q2 2024:

Prices for formic acid fell significantly across the Middle East and Africa in Q2 2024, mostly as a result of excess inventories and poor demand. Even though import quotations increased marginally in April, the market stayed mostly unchanged because there were few requests from downstream industries like adhesives and textiles. In May, reduced import prices from big exporters and excessive stockpiles among large producers further depressed prices. The gloomy trend continued as lower crude oil prices also resulted in lower costs of production. The region's downward pricing tendency was maintained in Saudi Arabia, which had the biggest swings due to seasonality and limited purchasing power.

Q4 2023:

The Middle Eastern formic acid market faced a challenging quarter, with Saudi Arabia's market advantage diminishing amidst stable to low offers reflecting regional trends. Concerns over adequate supply levels surfaced as manufacturing firms reduced production rates. The market witnessed moderate trading of German imports, influenced by end-user demand, despite reduced inflows from China due to holiday disruptions. Even with upstream cost pressures from geopolitical tensions, the market remained weak, with ample inventories and subdued fundamentals. Commodity markets were hesitant, balancing conflicting supply and demand concerns. As a result, manufacturers lowered production rates to manage existing stock levels amid an uncertain economic environment.

In addition to region-wise data, information on formic acid prices for countries can also be provided. 

Asia Pacific Formic Acid Price Trend

Q2 2025:

In the Asia Pacific region, formic acid pricing was impacted by high variability in methanol feedstock prices, driven by changes in crude oil benchmarks and domestic energy regulations. Demand remained firm across the textile, electronics, and rubber industries, with seasonal agricultural consumption adding to the upward pull. Plant turnarounds in key producing nations disrupted supply consistency. Port delays, container shortages, and rising intra-Asia freight rates further contributed to regional pricing pressures and uneven inventory distribution.

Q2 2024:

During Q2 2024, the Asia Pacific area saw a steady decline in formic acid prices, mostly due to a surplus of methanol and a decline in downstream demand. Due to a lack of inquiries from industries including adhesives and textiles, the overall trend remained restrained even though import quotes increased marginally in April. This declining trend was made worse by logistical difficulties and global economic uncertainty, while cautious consumer behavior led to a reduction in purchase activity. Demand in Japan was impacted by price changes brought on by seasonal declines in industrial interest during the hot months.

Q4 2023:

The formic acid market in the Asia Pacific region witnessed a bearish trend this quarter. Prices weakened due to ample inventory levels and a subdued feedstock market, particularly for sulphuric acid and methanol. Downstream sectors, including pharmaceuticals, rubber, leather, and pesticides, mostly engaged in on-demand buying, resulting in flat market transactions and inventory pressure. Market participants offered discounts to move stock, but overall trade activity remained stagnant. Buyers in the region maintained a cautious approach, contributing to a lack of aggressive market moves. The stable but restrained trading environment reflected a general wait-and-see stance by businesses, balancing their purchases with ongoing market uncertainties.

This formic acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Formic Acid Price Trend

Q2 2025:

In Latin America, especially Brazil, formic acid pricing was impacted by imported methanol cost volatility, exacerbated by exchange rate depreciation and extended ocean freight transit times. Domestic demand remained high in the agricultural and pesticide formulation sectors. Local production was limited, driving greater reliance on suppliers from Asia and Europe. Inland transportation delays due to fuel distribution disruptions and regional labor strikes constrained delivery timelines. Inventory restocking cycles also influenced procurement strategies across major industrial hubs.

Q2 2024:

Due to abundant supply and weak demand, especially in the food and beverage and textile industries, the formic acid market in Latin America had a significant decline in Q2 2024. Due to the imbalance in supply and demand caused by the regional excess, prices were further pressured. The situation was subsequently made worse by cautious buying and slack trade, which led to ongoing price drops. The most noticeable changes occurred in Brazil specifically, where they mirrored seasonal cycles and regional tendencies. The general mood stayed gloomy, and the little trade activity highlighted the difficulties the Latin America formic acid market faces.

Q4 2023:

In Latin America, particularly in Brazil, the formic acid market showed a decline in purchasing activity in the last quarter of 2023. The market remained weak due to low demand from downstream sectors and reduced spot purchasing. An influx of imports of China and USA, coupled with a cautious economic outlook and high-interest rates, has pressured prices further. Producers responded by decreasing production rates to clear out excess inventory, aiming to stabilize the market amidst these challenging conditions.

This comprehensive review can be extended to include specific countries within the region. 

Formic Acid Price Trend, Market Analysis, and News

IMARC's latest publication, “Formic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the formic acid market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of formic acid at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed formic acid prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting formic acid pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Formic Acid Market Analysis

The global formic acid market size reached 944.41 Kilo Tons in 2024. By 2033​, IMARC Group expects the market to reach 1,232.24 Kilo Tons, at a projected CAGR of 2.85% during 2025-2033.

• The growing product demand in the animal feed preservation is propelling the market. According to research held by the IMARC GROUP, the global feed additives market has reached US$ 518.4 Billion in 2023 and is projected to reach US$ 674.7 Billion by 2032, expanding at a CAGR of 2.9% during 2024-2032. Formic acid acts as a crucial additive in the animal feed owing to its antimicrobial properties, thereby extending the shelf life and safety of the feed. Additionally, the growing population is fueling the need to enhance livestock productivity in order to cater to the demand for animal products such as eggs, milk, and meat. On account of the aforementioned factor, farmers are seeking feed preservation techniques in order to maintain nutritional quality and safety of the animal feed, thus driving the formic acid market.
• The formic acid is widely used in the oil and gas industry, particularly in production improvement activities and well stimulation. According to a report published by the INDIA BRAND EQUITY FOUNDATION (IBEF), the oil demand in India is expected to grow twice, in order to reach 11 million barrels per day by 2045. The formic acid acts as an acidizing agent in well stimulation operations, where it is used to dissolve formation damage and improve the permeability of oil-bearing formations. Other than this, the acid is highly adopted in drilling fluid formulations where is acts as a pH adjuster and corrosion inhibitor. These are the most common factors influencing the adoption of formic acid in the oil and gas industry.
• Furthermore, the wide product application in the rubber and textile industries globally is creating a positive market outlook for formic acid. Numerous published reports highlight the steady growth of the rubber and textile industries. For instance, according to the IMARC GROUP, the global rubber market is exhibiting a growth rate of 4.5% during 2024-2032, whereas the global textile market us exhibiting a growth rate of 3.8%. Formic acid in the rubber industry is used in the manufacturing procedures of rubber goods, particularly synthetic rubber. Besides this, in the textile industry the high rates of product adoption can be accredited to its wide utilization in dyeing and finishing procedures.

Formic Acid News

The report covers the latest developments, updates, and trends impacting the global formic acid industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in formic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the formic acid price trend.

Latest developments in the formic acid industry:

• In January 2022, Ingenza announced its collaboration with Johnson Matthey. The two companies have developed novel, better approaches for manufacturing industrially relevant enzymes, such as cytochrome P450.
• In May 2023, IIT Guwahati announced its development of a catalyst used to produce sustainable green hydrogen fuel. This procedure will further produce formic acid as a by-product.

Product Description

Formic acid commonly known as methanoic acid is a colorless liquid, with the chemical formulation, HCOOH. The acid possesses a pungent smell similar to that of vinegar. It is a common carboxylic acid which occurs naturally in numerous organisms including ants.

Formic acid is mainly procured by the catalytic oxidation of methanol. This procedure includes the reaction of methanol with carbon monoxide in the presence of a catalyst, such as palladium or rhodium. Besides this, this acid is also produced through the hydrolysis of methyl formate which is collected from methanol and carbon monoxide.

Formic acid is widely used in numerous industrial applications. Some of the most common industries where formic acid is put to use include leather tanning, rubber and textile industries, oil and gas industry, and preservation of animal feed. In the leather tanning industry, formic acid acts as a coagulant in chrome tanning procedures in order to precipitate collagen fibers and convert raw hides in leather.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of formic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting formic acid price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The formic acid price charts ensure our clients remain at the forefront of the industry.