Formalin Price Trend and Forecast

Formalin Regional Price Overview

Get the latest insights on price movement and trend analysis of Formalin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Formalin Price Trend for the Second Half of 2023

Formalin prices continued to follow the price trend of its feedstock materials, formaldehyde and methanol, during the second half of the year 2023. Quarter three saw some good jumps in the price graph as the raw material costs upsurged the production rates and drove the price graph upward. A rise in energy rates also influenced the inclination during this time period.
 

Formalin Price Chart

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However, as the fourth quarter began, the price trend started experiencing a reverse momentum, with the energy and raw material costs plummeting. An ocean freight crisis because of the Red Sea issues hurdled the offshore trade as well. Market demands from various cosmetic and disinfectant industries also dipped, pushing down the formalin price graph in the fourth quarter. Overall, mixed market sentiments were experienced.

Analyst Insight

According to Procurement Resource, the Formalin price trends are expected to fluctuate going forward in the coming months. The gap between supply and demand outlooks is projected to lessen moving ahead.
 

Formalin Price Trend for the First Half of 2023

Formalin is a chemical that is extensively used in pharma, cosmetics, and as a preservative in biology labs and other wet labs to preserve specimens. It is a 37% diluted version of formaldehyde obtained by diluting formaldehyde in water in the presence of methanol. So, the market prices for Formalin depend greatly on its feedstock formaldehyde and methanol market.

During the first half of 2023, Formalin observed mixed price trend as the prices both rose and fell within the discussed timeline. As China was trying to come out of its lockdown phase, fresh demands from consuming sectors pushed the Formalin prices up. But the inventories filled up very quickly and started getting oversupplied as the demands didn’t grow in the same manner. So, the Formalin prices took a downturn, and a dip in price trend was observed. Similarly, dull market sentiments were observed in the European and American markets.

Analyst Insight

According to Procurement Resource, the price trend for Formalin are expected to fluctuate further, given the unstable supply-demand dynamics owing to overflowing inventories and bearish demands.

Procurement Resource provides latest prices of Formalin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.