Belarus: Formaldehyde Market 2022

Formaldehyde Market Size in Belarus

In 2021, the Belarusian formaldehyde market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a deep reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Formaldehyde Production in Belarus

In value terms, formaldehyde production rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep setback. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Formaldehyde Exports

Exports from Belarus

In 2021, after nine years of growth, there was significant decline in shipments abroad of formaldehyde, when their volume decreased by -X% to X tons. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2020, and then reduced notably in the following year.

In value terms, formaldehyde exports dropped dramatically to $X in 2021. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

Ukraine (X tons) was the main destination for formaldehyde exports from Belarus, with a X% share of total exports. Moreover, formaldehyde exports to Ukraine exceeded the volume sent to the second major destination, Poland (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ukraine totaled +X%.

In value terms, Ukraine ($X) remains the key foreign market for formaldehyde exports from Belarus, comprising X% of total exports. The second position in the ranking was occupied by Poland ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Ukraine totaled +X%.

Export Prices by Country

In 2021, the average formaldehyde export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price saw measured growth. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Poland ($X per ton), while the average price for exports to Ukraine stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+X%).

Formaldehyde Imports

Imports into Belarus

In 2021, after three years of decline, there was significant growth in supplies from abroad of formaldehyde, when their volume increased by X% to X tons. In general, imports, however, showed a slight decline. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, formaldehyde imports rose remarkably to $X in 2021. Over the period under review, imports, however, saw a deep contraction. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) was the main formaldehyde supplier to Belarus, with a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Russia was relatively modest.

In value terms, Russia ($X) constituted the largest supplier of formaldehyde to Belarus.

From 2012 to 2021, the average annual growth rate of value from Russia stood at -X%.

Import Prices by Country

In 2021, the average formaldehyde import price amounted to $X per ton, falling by -X% against the previous year. Overall, the import price saw a abrupt decrease. The growth pace was the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to -X% per year.

Source: IndexBox Platform