Global Formaldehyde Market 2024

Formaldehyde Market Size

The global formaldehyde market reduced modestly to $X in 2022, dropping by X% against the previous year. Overall, consumption saw a perceptible downturn. Over the period under review, the global market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Formaldehyde Production

In value terms, formaldehyde production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Formaldehyde Exports

Exports

In 2022, global formaldehyde exports shrank dramatically to X tons, waning by X% compared with 2021 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The global exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, formaldehyde exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 global exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands was the key exporter of formaldehyde in the world, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. Belgium (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Italy (X%), Germany (X%) and Poland (X%). Russia (X tons), India (X tons), Turkey (X tons), Canada (X tons), the United States (X tons), Slovakia (X tons), Spain (X tons) and Argentina (X tons) followed a long way behind the leaders.

The Netherlands experienced a relatively flat trend pattern with regard to volume of exports of formaldehyde. At the same time, Turkey (X%), Argentina (X%), Poland (X%), India (X%), Canada (X%), Italy (X%), Belgium (X%) and Germany (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Russia experienced a relatively flat trend pattern. By contrast, Spain (X%), the United States (X%) and Slovakia (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Turkey (X p.p.), India (X p.p.), Belgium (X p.p.), Italy (X p.p.), Argentina (X p.p.) and Germany (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Netherlands (X p.p.) and Slovakia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest formaldehyde supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Belgium ($X), with a X% share of global exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands was relatively modest. In the other countries, the average annual rates were as follows: Belgium (X% per year) and Poland (X% per year).

Export Prices by Country

The average formaldehyde export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The global export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (X%), while the other global leaders experienced more modest paces of growth.

Formaldehyde Imports

Imports

In 2022, the amount of formaldehyde imported worldwide declined to X tons, with a decrease of X% on the previous year. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Global imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, formaldehyde imports fell to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, global imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany was the main importing country with an import of around X tons, which amounted to X% of total imports. Poland (X tons) ranks second in terms of the total imports with an X% share, followed by Slovenia (X%), Belgium (X%), the Netherlands (X%), France (X%) and Switzerland (X%). The following importers - Nigeria (X tons), Latvia (X tons), the United States (X tons), Nepal (X tons), Canada (X tons) and Bulgaria (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to formaldehyde imports into Germany stood at X%. At the same time, Bulgaria (X%), Nigeria (X%), Poland (X%), Nepal (X%), the United States (X%), Belgium (X%), Switzerland (X%) and Slovenia (X%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Canada, the Netherlands and Latvia experienced a relatively flat trend pattern. By contrast, France (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Nigeria, Slovenia, Belgium, Bulgaria and Switzerland increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest formaldehyde importing markets worldwide were Germany ($X), Poland ($X) and Belgium ($X), together accounting for X% of global imports. Nigeria, Slovenia, France, the Netherlands, Switzerland, the United States, Latvia, Bulgaria, Canada and Nepal lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Bulgaria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average formaldehyde import price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform