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Sodium Formate Price Trend and Forecast

UNSPC: 85151701

sodium formate Price Trends by Country

usUnited States
cnChina
mxMexico
vnVietnam
inIndia
esSpain
twTaiwan
saSaudi Arabia

sodium formate Pricing Trends in India: 

  • Northern India sodium formate market price trend
  • Southern India sodium formate market price trend
  • Central India sodium formate market price trend

Global sodium formate Price Trend, Analysis and Forecast​

According to the PriceWatch, the Sodium Formate market in Q2 2025 saw price adjustments across various regions. In Saudi Arabia, prices decreased slightly by 0.43% to 340 USD per metric ton, driven by stable downstream demand from textiles and chemicals, though minor fluctuations in feedstock prices played a role.

In China, a more significant drop of 4.55% occurred, bringing prices down to 315 USD per metric ton, influenced by reduced demand from key CIF countries like Mexico, the USA, and Vietnam, along with volatile feedstock costs. Spain also experienced a price decline of 8.12%, with prices falling to 318 USD per metric ton, largely due to sluggish demand from the USA, its primary CIF market.

Taiwan saw a 3.47% decrease, with prices dropping to 325 USD per metric ton, as weaker demand from downstream industries led to a dip in the price trend. The overall market trend reflected adjustments across these regions, impacted by demand shifts and feedstock changes.

Sodium Formate Price Trend Analysis: Q2 2025

According to the PriceWatch, the Sodium Formate market in Q2 2025 saw price adjustments across various regions. In Saudi Arabia, prices decreased slightly by 0.43% to 340 USD per metric ton, driven by stable downstream demand from textiles and chemicals, though minor fluctuations in feedstock prices played a role.

In China, a more significant drop of 4.55% occurred, bringing prices down to 315 USD per metric ton, influenced by reduced demand from key CIF countries like Mexico, the USA, and Vietnam, along with volatile feedstock costs.

Spain also experienced a price decline of 8.12%, with prices falling to 318 USD per metric ton, largely due to sluggish demand from the USA, its primary CIF market. Taiwan saw a 3.47% decrease, with prices dropping to 325 USD per metric ton, as weaker demand from downstream industries led to a dip in the price trend. The overall market trend reflected adjustments across these regions, impacted by demand shifts and feedstock changes.

Sodium Formate Price Trend Analysis: Q1 2025

In Q1 2025, regional Sodium Formate markets moved in different directions amid changing seasonal and economic dynamics. Spain saw a steep 17.93% price drop to $346/MT, following winter demand declines and easing energy costs, which helped normalize local supply chains. China experienced a notable 10.11% decrease to $329/MT, largely due to post-holiday oversupply and sluggish demand recovery from key sectors like tanning and pharmaceuticals.

In contrast, Saudi Arabia recorded a mild 1.79% price increase to $341/MT, supported by stable domestic consumption and precautionary stockpiling amid uncertainty over future freight costs. The quarter highlighted diverging regional trends influenced by seasonality and trade flows.

Sodium Formate Price Trend Analysis: Q4 2024

In Q4 2024, Sodium Formate prices exhibited mixed trends across regions, reflecting varying demand patterns and cost factors. In Saudi Arabia, prices saw a modest rise of 1.11% to $336/MT, driven by a rebound in industrial activity and ongoing freight challenges in the Red Sea, which kept logistics tight.

China experienced a similar increase of 1.43%, reaching $367/MT, supported by seasonal demand from the de-icing, leather, and textile industries, along with government-imposed production restrictions for environmental compliance. In Spain, prices surged by 12.85% to $422/MT, mainly due to rising energy costs in Europe and strong demand in the construction and chemical sectors.

Sodium Formate Price Trend Analysis: Q3 2024

In Q3 2024, the Chinese market has experienced a decline of 3.94%, while the MEA region followed a similar trend with a 6.84% 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.

Sodium Formate Price Trend Analysis: Q2 2024

In Q2 of 2024, the Chinese market experienced an 8.87% decline due to falling exports, creating fluctuations that affected the broader Asian market. In the MEA region, prices dropped by 8.13%, driven by negative sentiments from ongoing trade route disruptions and cargo attacks. Conversely, the European region saw a modest 1.38% increase, spurred by rising demand from the textile sector, which contributed to a slight market share growth.

Sodium Formate Price Trend Analysis: Q1 2024

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 remained flat, while Europe experienced a more significant drop of 8.80%, and the Middle East recorded a decline of 6.85%. These shifts highlight the ongoing impact of geopolitical instability on market dynamics and pricing trends.

India sodium formate Price Trend, Analysis and Forecast

Sodium Formate Price Trend Analysis: Q1 2025

In Q1 2025, Sodium Formate CIF Nhava Sheva prices dropped sharply by 9.38% to $381/MT, marking the most significant quarterly decline of the year. The fall was driven by oversupply in the Chinese domestic market following the Lunar New Year, coupled with subdued demand from global buyers. Chinese exporters, facing sluggish domestic consumption and aggressive competition, cut prices to maintain overseas market share.

For India, the decline was timely, helping cushion the impact of a depreciating Rupee. However, subdued demand from key end-use sectors in India, particularly leather and industrial chemicals, meant that the price drop had limited short-term market impact.

Sodium Formate Price Trend Analysis: Q2 2025

According to the PriceWatch, In Q2 2025, India’s CIF prices for Sodium Formate decreased to 373 USD per metric ton, a 2.29% decline from Q1 2025, which had already fallen by 9.38%. This reduction was driven by lower demand from India’s downstream industries, particularly in textiles and chemicals. The price trend for India shows this downward trend, reflecting reduced industrial activity in Q2.

Additionally, feedstock prices in China, India’s main supplier, remained stable with minor fluctuations, influencing the overall pricing. The price trend indicates a steady decline over the past two quarters. Despite this, the market remains competitive, and prices are expected to stabilize as demand recovers in the coming months. The decline in prices is expected to continue to be influenced by demand dynamics and feedstock price stability from

Sodium Formate Price Trend Analysis: Q1 2024

In Q1 2024, Sodium Formate prices imported from China to India increased by 4.47% to $451/MT, driven by higher upstream raw material costs and a surge in demand from Indian buyers following the depletion of year-end inventories. Additionally, slight congestion at Chinese ports and rising container freight rates further pushed up costs.

As the Indian market relies heavily on Chinese imports for this commodity, the impact was more pronounced due to a slight depreciation of the INR against the USD, which further raised landed prices. Strong demand from India’s leather processing and de-icing chemical sectors also helped sustain the elevated import prices during this quarter.

Sodium Formate Price Trend Analysis: Q2 2024

In Q2 2024, Sodium Formate prices CIF Nhava Sheva dropped by 7.17% to $418/MT, as Chinese suppliers adjusted prices in response to easing feedstock costs and declining global demand. The price correction was also influenced by improved vessel availability and freight normalization, which brought down overall shipping costs.

Indian importers benefited from the reduced international pricing, though the impact was slightly offset by currency volatility. Lower demand from India’s downstream sectors, such as leather and pharmaceuticals during the early monsoon buildup, also contributed to reduced procurement activity, aligning with the broader downtrend in global chemical consumption during the quarter.

Sodium Formate Price Trend Analysis: Q3 2024

Q3 2024 saw a relatively stable pricing environment for Sodium Formate, with CIF Nhava Sheva prices easing only slightly by 0.86% to $415/MT. This near-flat movement reflects a market in balance, with adequate supply from China and muted seasonal demand in India. While global chemical markets experienced some volatility, stable freight rates and consistent output from Chinese producers prevented sharp price swings.

In India, buyers continued cautious procurement strategies, maintaining low inventory levels amid uncertain macroeconomic signals and fluctuating INR-USD exchange rates. The minimal price shifts this quarter indicated a wait-and-watch approach across both ends of the supply chain.

Sodium Formate Price Trend Analysis: Q4 2024

In Q4 2024, Sodium Formate CIF Nhava Sheva prices increased marginally by 1.42% to $421/MT, as demand picked up ahead of year-end manufacturing cycles in India. Seasonal restocking by downstream industries, including de-icing chemicals and leather processing, placed slight upward pressure on import prices.

Chinese exporters also faced tighter environmental regulations ahead of winter, which temporarily constrained output and added to global price support. Despite relatively stable freight costs, the continued weakness of the Indian Rupee against the USD marginally increased landed prices for Indian buyers, making imports slightly more expensive even with modest international price increases.

Global sodium formate Supply Chain

Upstream
  • Carbon Monoxide
  • Sodium Hydroxide
Downstream
  • Enzyme stabilizer in detergents.
  • Leather tanning
  • Printing processes
  •  Production of other chemicals (Sodium hydrosulfate and Formic acid)
Major supplying countries
  • China
  • Spain
  • Taiwan
  • Saudi Arabia
Major importing countries
  • Mexico 
  • India 
  • USA 
  • Vietnam 

India sodium formate Supply Chain

Upstream
  • Carbon Monoxide
  • Sodium Hydroxide
Downstream
  • Enzyme stabilizer in detergents.
  • Leather tanning
  • Printing processes
  •  Production of other chemicals (Sodium hydrosulfate and Formic acid)
Major supplying countries
  • China
  • Spain
  • Taiwan
  • Saudi Arabia
Major importing countries
  • Mexico
  • India
  • USA
  • Vietnam

Technical Specifications of Sodium Formate Price Trends

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 Bag

Sodium Formate 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

PriceWatch 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 

Sodium Formate Industrial 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.

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.

Why PriceWatch?

PriceWatch 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, PriceWatch keeps you fully informed of market dynamics.

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

Track PriceWatch'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.

Data Collection and Sources​

  • Real-Time Market Data: PriceWatch 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: PriceWatch 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: PriceWatch 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: PriceWatch 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: PriceWatch 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: PriceWatch 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 PriceWatch delivers the most accurate, timely, and actionable Sodium Formate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.

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 Bag

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

PriceWatch 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.

Sodium Formate Market Price Trend provided by PriceWatch 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. PriceWatch 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.

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.

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.

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.

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