U.S. - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Formaldehyde Price in U.S. Soars 37% to $918 per Ton
U.S. Formaldehyde Export Price per Ton July 2022
In July 2022, the formaldehyde price per ton stood at $918, with an increase of 37% against the previous month. Overall, export price indicated a prominent increase from January 2022 to July 2022: its price increased at an average monthly rate of +6.4% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, formaldehyde export price increased by +42.9% against May 2022 indices. The export price peaked at $920 per ton in March 2022; however, from April 2022 to July 2022, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($3,696 per ton), while the average price for exports to the UK ($448 per ton) was amongst the lowest.
From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Formaldehyde Exports
In July 2022, approximately 697 tons of formaldehyde were exported from the United States; which is down by -17.5% compared with June 2022 figures. Overall, exports, however, recorded a perceptible increase. The most prominent rate of growth was recorded in March 2022 with an increase of 178% against the previous month. As a result, the exports reached the peak of 1.8K tons. From April 2022 to July 2022, the growth of the exports failed to regain momentum.
In value terms, formaldehyde exports reached $640K (IndexBox estimates) in July 2022. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in March 2022 with an increase of 268% month-to-month. As a result, the exports attained the peak of $1.6M. From April 2022 to July 2022, the growth of the exports remained at a lower figure.
U.S. Formaldehyde Exports by Country
Canada (445 tons) was the main destination for formaldehyde exports from the United States, with a 64% share of total exports. Moreover, formaldehyde exports to Canada exceeded the volume sent to the second major destination, Mexico (108 tons), fourfold. the UK (31 tons) ranked third in terms of total exports with a 4.4% share.
From January 2022 to July 2022, the average monthly growth rate of volume to Canada amounted to +3.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+6.3% per month) and the UK (+17.0% per month).
In value terms, Canada ($354K) emerged as the key foreign market for formaldehyde exports from the United States, comprising 55% of total exports. The second position in the ranking was taken by Mexico ($58K), with a 9% share of total exports. It was followed by Hong Kong SAR, with an 8.5% share.
From January 2022 to July 2022, the average monthly rate of growth in terms of value to Canada stood at +12.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+6.6% per month) and Hong Kong SAR (+3.3% per month).
This report provides an in-depth analysis of the formaldehyde market in the U.S.. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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