Formalin (CH2O) is a colorless chemical liquid that has a strong and irritating odor, which is due to the presence of formaldehyde in the compound. With a neutral pH, it can be used as a reducing agent that is used to reduce other chemicals and produce formic acid. The melting and boiling point of Formalin measure around -19° C and -92° C, respectively.
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Formalin, with a high content of formaldehyde in it, can be highly flammable in nature. It is a water-based saturated solution comprising formaldehyde gas and stabilizers such as methanol, which helps avoid polymerization of the aldehyde present in the compound.
The key importing countries for Formalin are India, Vietnam, and Indonesia. On the other hand, the key exporting countries for the same include the United States, Vietnam, and India.
Key Details About the Formalin 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 formalin price forecast 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 Formalin Price chart, including India Formalin price, USA Formalin 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 Formalin Price Trend:
Formalin, also known as formaldehyde solution, is a vital chemical used across various industries, with its primary applications in manufacturing, healthcare, and laboratories. The price trends of formalin can be influenced by several factors related to its industrial uses:
Manufacturing: Formalin serves as a key ingredient in the production of various materials such as plastics, resins, adhesives, and textiles. Fluctuations in demand for these manufactured goods can directly impact the demand for formalin, thus affecting its price. For example, during periods of increased construction activity, demand for formalin-based adhesives and resins used in wood products can rise, leading to an uptick in formalin prices.
Healthcare and Pharmaceuticals: Formalin is commonly used in healthcare settings as a disinfectant and preservative for biological specimens. In pharmaceuticals, it's utilized in the production of certain medications. Changes in healthcare policies, advancements in medical technology, and shifts in pharmaceutical manufacturing practices can influence the demand for formalin in these sectors, thereby impacting its price.
Laboratories and Research: Formalin is indispensable in laboratories for specimen preservation and as a fixative in histology and pathology. Research activities, academic funding, and advancements in life sciences can drive fluctuations in formalin demand, thus affecting its price.
Environmental Regulations: Formalin is subject to strict regulations due to its potential health and environmental hazards. Changes in regulations governing its production, handling, or disposal can impact the cost of compliance for manufacturers, which may, in turn, affect formalin prices.
Feedstock Costs: The primary feedstock for formalin production is methanol, derived mainly from natural gas or coal. Fluctuations in the prices of these feedstocks, driven by factors such as supply disruptions, changes in energy markets, or geopolitical tensions, can influence formalin prices.
Global Economic Conditions: Economic factors such as GDP growth, industrial output, and consumer spending can affect the overall demand for formalin-containing products, thus influencing its price on the global market.
Supply Chain Disruptions: Any disruptions in the supply chain, such as transportation bottlenecks, trade restrictions, or natural disasters affecting production facilities, can lead to short-term fluctuations in formalin prices.
Understanding these industrial uses and their associated factors can provide insights into the trends and fluctuations observed in the formalin market. Additionally, factors like technological advancements, substitution possibilities, and market competition can further shape the dynamics of formalin pricing.
Key Players:
BASF SE
3M
Bayer AG
Celanese Corporation
DuPont
Dynea AS
Georgia-Pacific Chemicals
Huntsman International LLC
Merck KGaA
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