Portugal: Formaldehyde Market 2024

Formaldehyde Market Size in Portugal

In 2022, the Portuguese formaldehyde market decreased by X% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption recorded a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Formaldehyde Production in Portugal

In value terms, formaldehyde production declined modestly to $X in 2022 estimated in export price. Over the period under review, production saw a deep slump. The growth pace was the most rapid in 2017 when the production volume increased by X%. Formaldehyde production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Formaldehyde Exports

Exports from Portugal

In 2022, shipments abroad of formaldehyde increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, formaldehyde exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for formaldehyde exports from Portugal, with a X% share of total exports. Moreover, formaldehyde exports to Spain exceeded the volume sent to the second major destination, Morocco (X tons), threefold. The third position in this ranking was held by Guatemala (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (X% per year) and Guatemala (X% per year).

In value terms, Spain ($X), Morocco ($X) and Guatemala ($X) were the largest markets for formaldehyde exported from Portugal worldwide, with a combined X% share of total exports. Tunisia, France and Senegal lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Senegal, with a CAGR of X.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average formaldehyde export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, formaldehyde export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (X%), while the prices for the other major destinations experienced a decline.

Formaldehyde Imports

Imports into Portugal

In 2022, supplies from abroad of formaldehyde increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a slight shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, formaldehyde imports soared to $X in 2022. Overall, imports enjoyed a tangible increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of formaldehyde to Portugal, with a X% share of total imports. Moreover, formaldehyde imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Poland (X% per year).

In value terms, Spain ($X), Italy ($X) and Poland ($X) appeared to be the largest formaldehyde suppliers to Portugal, with a combined X% share of total imports. These countries were followed by Belgium, which accounted for a further X%.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average formaldehyde import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%).

Source: IndexBox Platform