Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
Formic Acid Price Trend Analysis 2026: Price Drivers, Market Insights, Historical Prices, Latest News & Supply Demand Analysis
Written ByUdeesha Tomar
Formic Acid Latest Prices Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Formic Acid | China | FOB | USD 342.16/MT | July 2026 |
| Formic Acid | India | CIF | USD 449.16/MT | July 2026 |
| Formic Acid | USA | CIF | USD 529.16/MT | July 2026 |
| Formic Acid | Germany | CIF | USD 476.16/MT | July 2026 |
| Formic Acid | Canada | CIF | USD 539.16/MT | July 2026 |
| Formic Acid | China | FOB | USD 374.76/MT | June 2026 |
| Formic Acid | India | CIF | USD 462.76/MT | June 2026 |
| Formic Acid | USA | CIF | USD 529.76/MT | June 2026 |
| Formic Acid | Germany | CIF | USD 495.76/MT | June 2026 |
| Formic Acid | Canada | CIF | USD 529.76/MT | June 2026 |
Stay updated with the latest Formic Acid prices, historical data, and tailored regional analysis
Formic Acid Price Trend Q2 2026
- Global formic acid prices diverged during Q2’26. Excess supply and weak purchasing caused a late-quarter decline, whereas elevated production costs supported Western markets.
- Methanol, energy, and logistics costs increased production expenses. In Asia, large inventories and ready availability outweighed feedstock pressure.
- Demand from leather, pharmaceuticals, pesticides, rubber, and other industries remained weak. Buyers maintained requirement-based purchasing and avoided inventory accumulation.
Asia
In the Chinese markets, monthly average prices of formic acid were about USD 375/MT in June (FOB). For India, the commodity averaged around USD 463/MT during June (CIF). Asian formic acid prices declined during Q2 2026. Supply remained ample in the initial part of the quarter, while buyers avoided restocking because essential demand was weak. Maintenance at major units briefly tightened supply and supported a recovery during May. However, high inventories and cautious demand limited the price rise. In June, the slight decline in prices. Low operating rates in leather, pharmaceutical, pesticide and rubber production further reduced consumption during the seasonal lull. Competition for limited orders then pushed the market sharply lower by quarter-end.
Europe
Across the German market, Formic Acid was assessed near USD 496/MT for June (CIF). European formic acid price trend witnessed a fluctuating trajectory during the quarter. Euro-area industrial producer prices increased 0.6% month on month in April, while intermediate-goods prices rose 1.8%, showing higher costs across chemical chains. Middle East disruption lifted petrochemical, energy and logistics expenses. Stronger methanol contracts also raised costs for plants using the methyl-formate route for manufacturing. However, weak consumption prevented producers from passing through the full increase.
North America
In the USA, monthly average prices came in at roughly USD 530/MT in June (CIF). North American formic acid prices likely stayed firm during early and mid-Q2. Formic acid prices in North America remained stable, oscillating in a narrow range in Q2'26. The price increase for US basic organic chemicals was 6.1% in April and 9.0% in May due to higher costs of production amid the logistical disruptions. Increases in methanol, fuel, electricity, and transport costs helped support offers, while purchasers resisted the price increase and showed need-based buying patterns.
Analyst Insight
According to Procurement Resource, Asian prices may remain soft until producer inventories decline. European and North American markets should stay firm, though weak downstream procurement will restrict further increases.
Related Report
Need Latest Formic Acid Prices?
Get real-time price assessments, periodic trends, forecasts and price driver insights across key global markets.
Our Clients
Procurement Resource Database
Turn price intelligence into action with the Procurement Resource Database. Log in or subscribe to unlock live price trends, historical charts, supplier databases, cost curves, and analyst-backed insights across chemicals, agriculture, energy, packaging, and more. Use these tools to benchmark your contracts, plan budgets with confidence, and stay ahead of market moves on every product you buy.
0
+Products
0
+Regions
0
+Subscriptions
- Global Formic Acid prices showed a mixed trend during Q1’26 as higher feedstock costs and geopolitical freight disruptions offset moderate downstream demand.
- Methanol volatility, elevated energy prices, and shipping disruptions linked to the Iran conflict and Strait of Hormuz supported production and import costs globally.
- Demand from leather tanning, animal feed preservatives, textiles, agriculture, and rubber chemicals improved gradually in Asia, while Europe and North America remained comparatively stable.
Asia
The Asian Formic Acid market recovered gradually during Q1’26 after a softer start to the quarter. In China, rising methanol costs, tighter producer inventories, and lower operating rates supported firmer pricing toward March. Demand from leather, textile, feed preservative, and rubber industries improved steadily, while export inquiries from Southeast Asia and India remained active. In India, higher import costs and elevated freight charges due to shipping disruptions through the Strait of Hormuz further strengthened market sentiment.
Europe
European Formic Acid prices remained elevated during Q1’26 due to high energy costs, expensive imports, and logistical disruptions. Weak manufacturing and textile demand limited strong spot buying initially, but rising freight charges and shipping uncertainty linked to the Iran conflict increased replacement costs. Higher methanol and natural gas prices also pressured regional producers, while delayed cargo movements kept supply conditions tight.
North America
North American Formic Acid prices followed a mixed-to-firm trend during Q1’26, supported by higher methanol costs and elevated transportation expenses. Demand from agriculture, de-icing chemicals, and rubber processing remained stable, although sufficient inventories prevented sharper price increases. Global shipping disruptions and rising crude oil prices further increased import and logistics costs across the regional chemical sector.
About Formic Acid
Formic acid is a colourless liquid with a pungent odour. It is corrosive in nature and miscible in water. It has its application in the dyeing and tanning industries and is also used as a reducing agent.
Formic Acid Product Detail
HS Code
29151100
Chemical Formula
CH2O2
CAS Number
64-18-6
Molecular Weight
46.03 g/mol
Industrial Uses
Pharmaceuticals, food additives, pesticides, textile industry, tanning, leather industry
Synonyms
Methanoic acid
Supplier Database
BASF SE, Feicheng Acid Chemicals Co. Ltd, Taminco Corporation, Perstorp AB
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Formic Acid Production Processes
Formic acid is produced by the direct hydrolyzation of carbon monoxide or reacting with alcohol. The obtained formic acid then goes through distillation to give crude formic acid.
Our Price Analysis Methodology
About the Author
Schedule A Demo
Experience how Procurement Resource transforms raw material price data into clear, decision ready intelligence. Optimise your performance with reliable, expert market data and analysis. Schedule your demo today to experience a live walk-through where our experts will showcase interactive price charts, forecasted prices, and insights driving the prices for your key commodities, tailored to your workflows. Contact us now!
Our Team will be happy to assist you
We are just a text away
Still Need Help?
Unlock full access to Procurement Resource's price databases, interactive charts, and short-term forecasts for thousands of commodities. Elevate your sourcing decisions by comparing prices across regions, downloading historical data, and layering in analyst-backed insights, all with our flexible plans that scale as your portfolio grows.
Still have any Questions
Contact Us
Price Trend Dashboard - What's Included
Price trends across a diverse portfolio of categories and products, spanning board to niche chemicals
Coverage extendable to grade-specific chemicals based on procurement requirements
Regular price tracking supported by robust historical datasets
News, policy updates, and key market drivers impacting price movements
Short-term and long-term price outlooks and forecasts
Supply–demand dynamics and capacity-driven market analysis
Why Procurement Database
Commodity Market Intelligence
Track prices, market movements, supply-demand dynamics, and industry developments across hundreds of commodities through a centralized intelligence platform built for informed procurement decisions.
Price Forecasts & Market Outlooks
Understand market fluctuations using analyst-backed forecasts, historical pricing patterns, and evolving industry trends to strengthen sourcing strategies and budget planning.
Cost & Procurement Optimization
Leverage cost models, pricing benchmarks, and procurement insights to evaluate purchasing opportunities, improve negotiations, and enhance operational efficiency.
Global & Regional Market Insights
Access region-specific price trends, trade activities, capacity changes, and supply chain developments influencing commodity markets worldwide.
1/4