Mumbai market: Sharp jump in Formic acid prices (Business Opportunities - Marketing & Sales)
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Mumbai market: Sharp jump in Formic acid prices | |
Formic acid prices in the Mumbai market were sharply up today. The price, which was previously at Rs. 935/kg, increased by Rs.2/kg today, reaching Rs. 937/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 producer), Perstorp Holding AB – Sweden, Eastman Chemical – USA and 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 rubber and crop protection sectors may influence pricing patterns in Q2 2025, Indian Formic acid prices, Formic acid prices in India, Indian Formic acid price, Indian price Formic acid, Indianpetrochem. #IndianFormicacidprices #Formicacidpricesinindia #IndianFormicacidprice #IndianpriceFormicacid #Indianpetrochem | |
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| Target State: All States Target City : Delhi, Ahamdabad and Mumbai Last Update : Apr 21, 2025 6:28 AM Number of Views: 28 | Item Owner : indianpetrochem Contact Email: Contact Phone: (None) |
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2025-04-25 (0.384 sec)