sodium formate Pricing Assessment

Markets Covered:

United States

China

Mexico

Vietnam

India

Spain

Taiwan

Saudi Arabia

Sodium Formate Price Trend, Analysis and Forecast

In the first half of 2024, Sodium Formate prices surged due to supply constraints and rising geopolitical tensions, disrupting trade routes. China remains the largest exporter, with Spain and Saudi Arabia also contributing significantly to the market. These factors have led to increased costs and potential shortages, affecting manufacturers and buyers alike.

In Q1 of 2024, Sodium Formate prices declined globally, largely due to trade route disruptions and rising geopolitical tensions in the Middle East, including increasing attacks on cargo vessels in the Red Sea by Houthi rebels. The Asian market saw a decrease of 2%, while Europe experienced a more significant drop of 9%, and the Middle East recorded a decline of 6.7%. These shifts highlight the ongoing impact of geopolitical instability on market dynamics and pricing trends.

In Q2 of 2024, the Chinese market experienced a 2% decline due to falling exports, creating fluctuations that affected the broader Asian market. In the MEA region, prices dropped by 8.25%, driven by negative sentiments from ongoing trade route disruptions and cargo attacks. Conversely, the European region saw a modest 1.6% increase, spurred by rising demand from the textile sector, which contributed to a slight market share growth.

In Q3 of 2024, the Chinese market has experienced a decline of 6.9%, while the MEA region followed a similar trend with a 5.6% drop. These decreases are attributed to declining demand and falling formic acid prices in the Asian region. In contrast, the European market is exhibiting stability, maintaining a balanced demand and supply equilibrium.

In Q4 2024, Sodium Formate prices are expected to stabilize due to modest demand recovery in the textile and pharmaceutical sectors. Supply chain adjustments may alleviate constraints, but geopolitical tensions could create volatility. Overall, prices are likely to remain stable yet sensitive to ongoing market developments.

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is your trusted resource for tracking global sodium formate price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the sodium formate market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, keeps you fully informed of market dynamics.

In addition, provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With , you gain a competitive edge in understanding all the elements that influence sodium formate prices worldwide. Stay ahead of the curve with ’s reliable, accurate, and timely sodium formate market data.

Track 's sodium formate price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Historically, several events have caused significant fluctuations in sodium formate prices

2023 Geopolitical Conflicts: Ongoing conflicts and trade route disruptions, especially related to Middle Eastern tensions, further impacted supply and pricing dynamics.

Global Recovery and Demand Surge (2021-2022): Post-pandemic recovery in various sectors, particularly textiles and pharmaceuticals, drove up demand, leading to significant price increase.

COVID-19 Pandemic (2020): The pandemic caused widespread supply chain disruptions, resulting in both shortages and increased prices as demand fluctuated across industries.

These events underscore the Sodium Formate market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.

Methodology and Specifications

sodium formate Pricing Assessment Research Methodology

Data Collection and Sources

Real-Time Market Data: aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions.

On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major Sodium Formate production hubs. This ground-level intelligence is crucial for understanding localized market dynamics.

Supply Chain Monitoring: We track the entire Sodium Formate supply chain, from raw material availability (e.g., naphtha, ethane) to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis

Geopolitical Tensions: continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact Sodium Formate prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing.

Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on Sodium Formate production facilities, particularly in vulnerable regions like the U.S. Gulf Coast. These events are factored into our price forecasts and supply outlooks.

Economic Shifts: evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., automotive, packaging), to predict shifts in Sodium Formate demand and corresponding price movements.

Production Capacity and Supply Analysis

Current Production Monitoring: We maintain a comprehensive database of global Sodium Formate production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately.

Future Capacity Projections: Our research includes detailed forecasts of upcoming Sodium Formate production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization.

Demand Forecasting

Sectoral Demand Analysis: provides in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments.

Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global Sodium Formate pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations.

Pricing Model Development

Dynamic Pricing Models: utilizes advanced econometric models to forecast Sodium Formate prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power.

Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations.

Ongoing Support: offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice.

This research methodology ensures that delivers the most accurate, timely, and actionable Sodium Formate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.

Specifications

Molecular Weight[g/mol]

68.01 g/mol

CAS No

141-53-7

HS Code

29151210

Molecular Formula

HCOONa

sodium formate

Sodium Formate (HCOONa) is a key industrial chemical used in textiles, leather processing, and as a precursor to formic acid. It is mainly produced by reacting Sodium hydroxide with Formic acid, which is derived from methanol—sourced from natural gas or petroleum. Sodium Formate serves as both a buffering agent and reducing agent in a variety of applications.

Packaging Type

25 KG NET POLYSODIUM FORMATE BAGS

Grades Covered

96%, 98%

Incoterms Used

FOB Saudi Arabia, FOB Shanghai, CIF Manzanillo_China, CIF Haiphong _Vietnam, CIF Houston (China, Spain), CIF Nhava Sheva_China, FOB Barcelona, FOB Kaohsiung, FOB Jeddah Port

Synonym

Sodium Methanoate

Quotation Terms:

25-28 MT 10-15 MT (India)

Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.

Appearance	Crystalline Powder
Assay (%)	98.0 min
NaOH (%)	0.5 max
Na2CO3 (%)	1.0 max
NaCl (%)	0.2 max
Na2S	0.03 max
Water (%)	0.6 max

Appearance	White Powder
Assay (%)	96.0 min
Water	0.2 max

Applications

Sodium Formate is a versatile compound widely used in various industries. In the textile industry, it serves as a buffering agent during dyeing to maintain pH levels, while in leather tanning, it enhances the penetration of tanning agents as a pickling agent. Additionally, Sodium Formate is employed as a less corrosive de-icing agent for roads and can function as a food preservative or flavouring agent in some cases. It also acts as a source of formic acid in chemical production and is utilized in biogas generation processes as a substrate. In laboratories, it plays a role in biochemical studies as a buffer for proteins and nucleic acids, and in agriculture, it can be used as a feed additive or soil amendment to improve nutrient availability.

Disclaimer

Sodium Formate price provided by is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for sodium formate. disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

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Frequently asked questions

What factors influence the pricing of Sodium Formate? +

The pricing of Sodium Formate is influenced by several key factors, including raw material costs, production methods, supply chain logistics, and demand in various industries such as textiles, leather tanning, and food processing. Additionally, fluctuations in global market trends and geopolitical factors can also impact pricing. For procurement heads, understanding these variables can help in budgeting and forecasting expenses related to Sodium Formate purchases.

What are the key quality standards for Sodium Formate? +

Key quality standards for Sodium Formate typically include specifications for purity (usually above 96%), moisture content, and the presence of impurities. Suppliers should provide a Certificate of Analysis (COA) to confirm that their product meets industry standards, especially for applications in textiles, leather, and food processing. Ensuring compliance with these standards is crucial for maintaining product performance.

How can I ensure a consistent supply of Sodium Formate? +

To ensure a consistent supply of Sodium Formate, procurement heads should establish long-term contracts with reliable suppliers, maintain open communication, and monitor inventory levels regularly. Diversifying suppliers can also mitigate supply chain risks.