Formaldehyde Prices, Price Index, Demand & Forecast Data

Price of Formaldehyde Last Quarter Across Regions:

United States: 462 USD/MT
Saudi Arabia: 257 USD/MT
Germany: 521 USD/MT

Global & Regional Factors Influencing Formaldehyde Price Trend By Last Quarter:

Formaldehyde Price Trend in North America:

In the first quarter of 2024, the Formaldehyde Price Trend in North America demonstrated significant improvement compared to the previous quarter, driven by an increase in demand that effectively reduced the previously abundant supply, which had kept prices low in Q4 2023. Enhanced market sentiment was evident as purchasing activities rose, particularly within the downstream adhesive and disinfectant industries. Contributing factors included a decrease in production costs and stabilization of methanol prices, allowing suppliers to offer competitive pricing amid rising demand. As the leading producer and consumer of formaldehyde, the United States saw a surge in export orders due to declining supplier inventories.

Formaldehyde Price Trend in the APAC Region:

Conversely, the APAC region faced bearish market sentiment characterized by sluggish demand and oversupply, exacerbated by a decline in activity from downstream sheet metal and plate factories during the holiday season. This scenario pressured formaldehyde manufacturers to accelerate shipments while limiting market expansion.

Formaldehyde Price Trend in Europe:

Europe, the market confronted challenges due to weak fundamentals and diminishing demand, leading to oversupply and price decreases despite suppliers' efforts to offer attractive deals.

Formaldehyde Price Trend in the MEA Region:

The MEA region similarly experienced a bearish trend, with Saudi Arabia facing a supply surplus and a price decline attributed to reduced demand and high production costs, thereby increasing pressure on producers to optimize operations and explore new markets to mitigate losses.

Formaldehyde Industry Trend:

The formaldehyde market is driven by several key factors that reflect both demand dynamics and supply conditions across various regions. A significant impetus for market growth stems from the robust demand from downstream industries, particularly in producing adhesives, resins, and disinfectants. The construction and automotive sectors, which rely heavily on formaldehyde-based products, continue to expand, further enhancing demand. Additionally, the increasing emphasis on hygiene and sanitation in response to public health concerns has propelled the use of formaldehyde in disinfectants, contributing to market vitality. On the supply side, fluctuations in feedstock prices, particularly methanol, play a critical role in shaping production costs and pricing strategies. Stabilization in these feedstock prices has allowed suppliers to offer competitive rates, fostering growth. Conversely, challenges such as inventory accumulation and weak demand in certain markets can exert downward pressure on prices.

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Price Trend Overview and Detailed Regional Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.