LowPCF formic acid now available on BASF’s eAuction platform in China
- Enabling customers in China to submit bids and track auction progress, enhancing transparency and simplifying purchasing experience
- Allows BASF to engage directly with customers and gain valuable market insights
- BASF FA’s cradle-to-gate product carbon footprint (PCF) is demonstrably lower than market average for fossil-based equivalent products
BASF’s formic acid (FA) is now available on its eAuction digital platform, designed to streamline the procurement process for customers, currently in China. This platform allows customers to submit bids and monitor the progress of ongoing auctions.
“eAuction is a user-friendly and efficient digital auction platform, which accelerates procurement processes, increases efficiency, and enhances the ordering experience by providing real-time information to our customers. This platform allows us to welcome more customers to engage with us directly, while gaining valuable market insights via identifying customers’ behavior and demand patterns. This aligns with our vision to be the preferred partner for sustainable intermediates,” said Michael Becker, Senior Vice President, Intermediates Asia Pacific at BASF.
FA is used in animal nutrition to preserve animal feed and ensures efficient coagulation in the extraction of latex. Potassium formate, a salt of FA, is a highly efficient de-icing agent for roads, commercial buildings and airport runways. FA and potassium formate are also used in the oilfield industry and in shale gas exploration. FA is also a highly effective decalcifier and disinfectant and is used in leather processing. With a global production capacity of 300,000 metric tons per year, BASF produces FA at its Verbund sites in Nanjing, China; Ludwigshafen, Germany; and Geismar, Louisiana, the USA. Its cradle-to-gate PCF is demonstrably lower than the market average for fossil-based equivalent products1.
About BASF Intermediates
BASF's Intermediates division is a global leader in the development, manufacture and marketing of chemical intermediates and we aim to become the preferred partner for sustainable intermediates for our customers. With more than 600 products in our portfolio, including amines, diols, polyalcohols, acids and specialties, we offer innovative solutions for a wide range of industries, from coatings and plastics to pharmaceuticals and crop protection. Our intermediates can improve the properties of end products and increase the efficiency of production processes. With our focus on CO2 management, recycled and bio/renewable products, we offer our customers solutions and products which support them in achieving their sustainability goals. As an ISO 9001 certified division, we operate a global network of production sites in Europe, Asia and North America.
About BASF
At BASF, we create chemistry for a sustainable future. Our ambition: We want to be the preferred chemical company to enable our customers’ green transformation. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises, as core businesses, the segments Chemicals, Materials, Industrial Solutions, and Nutrition & Care; our standalone businesses are bundled in the segments Surface Technologies and Agricultural Solutions. BASF generated sales of €65.3 billion in 2024. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com.
