Formic acid has broad application in the leather market as it helps lower the pH while preventing any bacteria from growing. In the textile industry, it can help penetrate dye into fibres. It is also used as a disinfectant and preservative in a few cleaning solutions.
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Furthermore, in the manufacturing industry, it is employed for making natural rubber latex as a coagulating agent, used as a reducing agent to make various medications, and as an animal feed preservative to get rid of bacteria and extend the shelf life of the meal. Also, it finds application in the oil and gas industry for removing scale and other deposits from pipelines and other equipment.
Key Details About the Formic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Formic acid price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The formic acid price trend, including India Formic acid price, USA Formic acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Formic Acid Price Trend:
Formic acid (HCOOH) or methanoic acid is a colourless and smelly liquid. It is one of the most basic carboxylic acids, which is a key part of ant venom and causes a serious sting. The highly reactive chemical is hazardous and can cause serious burns and damage in case of improper handling; hence proper precautionary and handling measures are necessary. It has a molecular weight of 46.03 g/mol and a density of 1.22 g/cm³. Its respective melting and boiling points are 8.4°C (47.1°F) and 100.8°C (213.4°F). It is soluble in water, ether, and ethanol. The weak acid has a 2.5 pH and can be extremely caustic and toxic.
Key Players:
- BASF SE
- Feicheng Acid Chemicals Co. Ltd
- Taminco Corporation
- Perstorp AB
News & Recent Development
- 12th May 2023- In the latest synthetic metabolic pathways for the fixation of carbon dioxide, the content of CO2 gas in the atmosphere cannot just be reduced but can also substitute traditional chemical production processes with carbon-neutral, biological processes to produce pharmaceuticals and active ingredients. A recent study found that a process can turn CO2 into a valuable material in the biochemical industry using formic acid.
Read Also: https://cityoftips.com/2023/06/08/price-trends-of-formalin/
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