Egypt: Formaldehyde Market 2024

Formaldehyde Market Size in Egypt

The Egyptian formaldehyde market fell to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a perceptible slump. Formaldehyde consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Formaldehyde Production in Egypt

In value terms, formaldehyde production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Formaldehyde Exports

Exports from Egypt

In 2022, formaldehyde exports from Egypt shrank sharply to X tons, which is down by X% compared with the previous year. In general, exports showed a pronounced decrease. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, formaldehyde exports contracted dramatically to $X in 2022. Overall, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for formaldehyde exports from Egypt, with a X% share of total exports. Moreover, formaldehyde exports to Nigeria exceeded the volume sent to the second major destination, Tunisia (X tons), sixfold. The third position in this ranking was taken by Syrian Arab Republic (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (X% per year) and Syrian Arab Republic (X% per year).

In value terms, Nigeria ($X) remains the key foreign market for formaldehyde exports from Egypt, comprising X% of total exports. The second position in the ranking was held by Tunisia ($X), with a X% share of total exports. It was followed by Syrian Arab Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Nigeria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (X% per year) and Syrian Arab Republic (X% per year).

Export Prices by Country

In 2022, the average formaldehyde export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Syrian Arab Republic ($X per ton) and Tunisia ($X per ton), while the average price for exports to Morocco ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Formaldehyde Imports

Imports into Egypt

Formaldehyde imports into Egypt fell markedly to X tons in 2022, reducing by X% against 2021. In general, imports, however, recorded notable growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, formaldehyde imports reduced rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of formaldehyde to Egypt, with a X% share of total imports. Moreover, formaldehyde imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and India (X% per year).

In value terms, the UK ($X), the United Arab Emirates ($X) and Belgium ($X) constituted the largest formaldehyde suppliers to Egypt, together accounting for X% of total imports.

Among the main suppliers, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average formaldehyde import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price continues to indicate a measured expansion. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform