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Canada - Formic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Formic Acid, Its Salts and Esters in Canada - 2023
Contents:
- Price for Formic Acid, Its Salts and Esters in Canada (FOB) - 2023
- Price for Formic Acid, Its Salts and Esters in Canada (CIF) - 2022
- Exports of Formic Acid, Its Salts and Esters in Canada
- Imports of Formic Acid, Its Salts and Esters in Canada
Price for Formic Acid, Its Salts and Esters in Canada (FOB) - 2023
The average export price for formic acid, its salts and esters stood at $9,037 per ton in October 2023, jumping by 84% against the previous month. Over the period under review, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in February 2023 an increase of 416% month-to-month. As a result, the export price reached the peak level of $28,549 per ton. From March 2023 to October 2023, the the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From October 2022 to October 2023, the rate of growth in terms of prices for the United States amounted to +5.0% per month.
Price for Formic Acid, Its Salts and Esters in Canada (CIF) - 2022
In 2022, the average import price for formic acid, its salts and esters amounted to $1,200 per ton, picking up by 9.4% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for formic acid, its salts and esters increased by +59.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 46% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($2,150 per ton), while the price for Spain ($715 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Formic Acid, Its Salts and Esters in Canada
For the fourth consecutive year, Canada recorded growth in shipments abroad of formic acid, its salts and esters, which increased by 24% to 2.3K tons in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 182%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of formic acid, its salts and esters declined to $16M in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 636%.
Export of Formic Acid, Its Salts and Esters in Canada (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Norway | N/A | 9.3 | 4.7 | 8.6 | -3.8% |
United States | 1.2 | 0.8 | 2.5 | 3.9 | 48.1% |
United Kingdom | N/A | N/A | 9.6 | 3.1 | -67.7% |
Singapore | N/A | N/A | 0.2 | 0.1 | -50.0% |
Oman | N/A | N/A | N/A | 0.1 | 0% |
China | N/A | N/A | N/A | 0.1 | 0% |
Thailand | N/A | N/A | N/A | 0.1 | 0% |
Cuba | 0.2 | N/A | N/A | N/A | 0% |
Others | N/A | N/A | 0.2 | N/A | 0% |
Total | 1.4 | 10.1 | 17.3 | 16.0 | 125.2% |
Top Export Markets for Formic Acid, Its Salts and Esters from Canada in 2022:
- Norway (669.6 tons)
- United Kingdom (588.6 tons)
- United States (556.8 tons)
- Oman (184.5 tons)
- Thailand (170.9 tons)
- Singapore (39.6 tons)
- China (39.6 tons)
Imports of Formic Acid, Its Salts and Esters in Canada
After two years of decline, overseas purchases of formic acid, its salts and esters increased by 123% to 12K tons in 2022. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of formic acid, its salts and esters surged to $15M in 2022. Over the period under review, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Import of Formic Acid, Its Salts and Esters in Canada (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 4.9 | 1.8 | 2.4 | 6.4 | 9.3% |
China | 1.9 | 1.7 | 2.8 | 4.2 | 30.3% |
Turkey | 1.3 | 1.8 | 0.1 | 2.2 | 19.2% |
Germany | 0.2 | 0.1 | 0.2 | 0.9 | 65.1% |
Netherlands | 0.4 | 0.2 | 0.2 | 0.7 | 20.5% |
Sweden | N/A | 0.3 | 0.1 | 0.3 | 0.0% |
Spain | 1.0 | 0.7 | 0.1 | 0.1 | -53.6% |
Others | 0.2 | 0.1 | 0.2 | 0.1 | -20.6% |
Total | 9.8 | 6.8 | 6.1 | 14.9 | 15.0% |
Top Suppliers of Formic Acid, Its Salts and Esters to Canada in 2022:
- United States (5.6K tons)
- China (3.0K tons)
- Turkey (2.3K tons)
- Germany (0.6K tons)
- Netherlands (0.3K tons)
- Sweden (0.3K tons)
- Spain (0.2K tons)
This report provides an in-depth analysis of the market for formic acid, its salts and esters in Canada. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143250 - Formic acid, its salts and esters
Country coverage:
- Canada
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Canada
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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