Formaldehyde Prices

Formaldehyde Prices March 2024

In the first quarter of 2024, the price of formaldehyde reached 462 USD/MT in the USA. The rise in need from sectors like adhesives and disinfectants helped reduce the earlier quarter's oversupply. Market conditions were further increased by lower manufacturing expenses and stabilized methanol costs. Export orders rose as local inventories declined, showing a strong recovery for the formaldehyde industry in the country.

Saudi Arabia's formaldehyde market experienced difficulties in Q1 2024, reaching 257 USD/MT, because of low demand and excess supply. Weakened purchasing activity, combined with increased manufacturing costs, led to cost decrease. Despite this, the fundamental market conditions remained consistent, without any significant disturbances in supply. However, inventories grew, and market recovery continued to face significant challenges.

Germany’s formaldehyde market struggled during Q1 2024, facing reduced demand and oversupply, with pricing reaching 521 USD/MT. Despite efforts by suppliers to stimulate sales, weak demand from industries like disinfectants led to a notable drop in costs. Cautious buying behavior and sluggish market activity prevailed, making it a difficult for Germany’s formaldehyde sector, which struggled to regain momentum.

Formaldehyde Prices December 2023

The formaldehyde prices in the USA for Q4 2023 reached 428 USD/MT in December due to tight supply and strong downstream consumption. However, the robust demand in disinfectant sectors and high purchasing activity counteracted this, leading to a rise in prices toward the end of the quarter. Elevated production costs also contributed to the changing price dynamics.

The price trend for formaldehyde in China for Q4 2023, reached 153 USD/MT (37%) in December owing to weak demand worldwide and elevated supply level. Prices declined as export orders slowed, reflecting the overall sluggish market environment. The market experienced stable seasonality but faced continuous pressure from low demand in key industries, which kept the price trend on a downward path.

The price trend for formaldehyde in Saudi Arabia for Q4 2023, reached 350 USD/MT in December due to ample stock availability and reduced need from downstream sectors. The limited impact of Methanol cost supports further pressured prices. With high inventory levels and minimal buying interest, the market remained steady, reflecting a cautious trading environment.

Regional Coverage

The report provides a detailed analysis of the formaldehyde market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the formaldehyde price trend.

Global Formaldehyde Price

The report offers a holistic view of the global formaldehyde pricing trends in the form of formaldehyde price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into formaldehyde historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into formaldehyde price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed formaldehyde demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Formaldehyde Price

Q2 2024:

In Q2 2024, market prices in Europe faced a downward trend, primarily due to excess supply and low usage in key industries like textiles and adhesives. Increased stock levels and subdued trading activity reflected a cautious market sentiment, where end-users hesitated to make significant purchases. Despite changing methanol costs, there was inadequate assistance to counteract the negative pressure on formaldehyde pricing. Germany, in particular, saw considerable price declines as a result of periodic influences and decreasing commercial needs. The overall market environment remained bearish, with persistent oversupply and low demand making it difficult for the formaldehyde market in Europe to rebound during this period.

Q1 2024:

The European market endured a difficult first quarter in 2024 because of weak demand and a surplus of inventory in the market. Downstream industries remained cautious, resulting in excess supply that suppressed prices, despite efforts by distributors in countries like the Netherlands to stimulate buying with attractive deals. Germany, in particular, saw a sharp decline in cost, reflecting the sluggish recovery in demand from key sectors like disinfectants. Although no major site shutdowns occurred, the slow pace of market activity and cautious purchasing behavior contributed to a difficult business environment. The bearish sentiment persisted throughout the quarter, keeping formaldehyde prices under pressure.

Q4 2023:

In Europe, the formaldehyde industry in the last quarter of 2023 was characterized by a gradual rebound, driven by moderate local demand and increasing feedstock Methanol costs. Despite challenges such as ongoing supply shortages, the market experienced firm pricing due to heightened product purchasing and strong demand. Deals were concluded at higher price points, reflecting this robust market sentiment. Germany saw continuous price increases due to local supply constraints, while increased exports from the Netherlands bolstered market activity. The decline in stock levels, alongside strong end-user demand, allowed sellers to maintain a firm stance, leading to improved profit margins and willingness among buyers to accept higher prices as consumption grew.

This analysis can be extended to include detailed formaldehyde price information for a comprehensive list of countries.

North America Formaldehyde Price

Q2 2024:

In Q2 2024, the market in North America saw a significant rise in prices, driven by a combination of elevated methanol costs and increased buying activity both domestically and overseas. A tightening supply situation due to reduced inventories pushed manufacturers to raise prices, while heightened overseas trade to regions strained supply chains. The USA, being the primary contributor to the price rise, experienced high usage amid restricted supply. Seasonal factors, such as increased manufacturing and procurement activities, also contributed to the upward trend. Overall, higher operational costs and strong fundamentals of trading underpinned the robust growth in the formaldehyde market.

Q1 2024:

In the first quarter of 2024, the North American market saw a significant recovery from the earlier quarter because of an increase in demand from key sectors, including adhesives and disinfectants. The conditions of the market enhanced as buying activity increased, which helped reduce the oversupply that had earlier suppressed prices. A decrement in manufacturing prices and the stability of methanol prices also led to this optimistic momentum, enabling suppliers for providing competitive rates. Despite isolated shutdowns, such as at a Texas facility owing to extreme weather, the market remained resilient. The USA, as the region's leading manufacturers of formaldehyde, witnessed a rise in export orders driven by dwindling inventories among suppliers.

Q4 2023:

In the fourth quarter of 2023, the North American formaldehyde market saw strong consumption from adhesive and disinfectant sectors, driving a bullish trend. The limited availability of new stocks and challenging market conditions in Europe meant low trading activity. Additionally, reduced operational rates in the formaldehyde industry further supported the upward price movement. The USA experienced notable price adjustments, with a decrease attributed to restricted high and supply downstream consumption. However, strong demand in the disinfectant sectors offset this, leading to higher prices both domestically and internationally. Rising production costs due to higher Methanol feedstock prices also influenced the market, marking a noticeable price elevation by the end of the quarter.

Specific formaldehyde historical data within the United States and Canada can also be provided.

Middle East and Africa Formaldehyde Price

Q2 2024:

In the Middle East and Africa, the market encountered a notable price decline in Q2 2024, influenced by several factors, including an oversupply of products and decreased applications in industries like textiles. Economic instabilities and elevated rates of interest continued to suppress buying behavior, resulting in lower trading volumes throughout the region. Saudi Arabia, a key producer, faced the considerable market pressures as high inventory levels coincided with low demand, leading to a bearish sentiment. Seasonal factors like the Ramadan period also contributed to subdued trading activity. The region saw minimal supply disruptions, leaving inventories high and market confidence low, which further suppressed formaldehyde prices.

Q1 2024:

In the Middle East and Africa, the market remained under pressure during the first quarter of 2024. Weak needs from end users, coupled with plenty of inventories in the market, kept prices on a downward trajectory. The broader global economic slowdown exacerbated the region's challenges, particularly for major manufacturers like Saudi Arabia. Despite stable market fundamentals, heightened manufacturing expenses and sluggish purchasing activity added to the bearish sentiment. Saudi Arabia, a key player in the region, saw inventory accumulation due to diminished demand, leading to a continued drop in prices. Generally, the region's formaldehyde market faced a tough quarter characterized by ample supply and slow demand recovery.

Q4 2023:

The formaldehyde industry in the Middle East and Africa faced a mixed trend in Q4 2023, with prices generally steady to declining. Ample availability of the product and lukewarm demand from end use industries led to a decrease in prices. Limited cost support from the Methanol market also impacted market conditions. Saudi Arabia reported a noticeable drop in Formaldehyde prices, influenced by traditional depleting activities and lower trade volumes. Sufficient local stockpiles and steady operations in manufacturing units kept the market relatively balanced. However, reduced buying interest and high inventory levels maintained pressure on prices, with minimal offers or bids from suppliers due to muted demand fundamentals.

In addition to region-wise data, information on formaldehyde prices for countries can also be provided.

Asia Pacific Formaldehyde Price

Q2 2024:

In the Asia Pacific region, the market saw a significant price rise in Q2 2024, owing to high manufacturing expenses because of increasing methanol cost. Supply chain disruptions and robust usage in sectors like resins, adhesives, and textiles added further pressure on the market. Seasonal factors, including planned inventory restocking, contributed to amplified purchasing behavior. Additionally, geopolitical complications prompted suppositional trading behavior, resulting in a more volatile pricing environment. China, a major player in the region, saw the most notable price fluctuations, with seasonal manufacturing peaks contributing to heightened procurement and higher prices. Overall, the quarter marked a strong upward trend across the region.

Q1 2024:

The formaldehyde market in the Asia Pacific faced challenging conditions in Q1 2024, largely driven by weak need and an oversupply. The sluggish performance of downstream industries, including sheet metal and plate factories, compounded by the holiday season, led to limited usage. Despite the availability of formaldehyde, purchasers hesitated to make purchases because of rising prices, further dampening the potential of the market for growth. Slow purchasing activity and a lackluster return to production after the Spring Festival contributed to a low market environment, limiting formaldehyde sales.

Q4 2023:

During Q4 2023, the Asia Pacific formaldehyde market showed varied dynamics, influenced by several factors. High supply levels and subdued global demand caused the market to remain bearish, with sluggish Methanol feedstock prices contributing to lower production costs. China, price trends reflected significant fluctuations due to abundant supply and low export demand. This downturn led to a steady reduction in prices throughout the quarter, indicating a stable yet declining trend in the region’s Formaldehyde market, primarily driven by sluggish trading and usage patterns.

This formaldehyde price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Formaldehyde Price

The analysis of formaldehyde prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Formaldehyde Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Formaldehyde Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of formaldehyde pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of formaldehyde at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of formaldehyde price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing formaldehyde price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Formaldehyde Market Analysis

The global formaldehyde industry size reached US$ 8.2 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 13.5 Billion, at a projected CAGR of 5.80% during 2023-2032​.

• Governments have implemented a series of higher environmental restrictions worldwide to curb pollution; hence, fuel blending has become more dependent on the composites of formaldehyde. The high octane of the fuel, coupled with lower emission, gives it an edge that attracts many industries.
• According to a 1997 report by the U.S. Consumer Product Safety Commission, formaldehyde is normally present in both indoor and outdoor air at low levels, usually less than 0.03 parts of formaldehyde per million parts of air (ppm).
• Formaldehyde’s crucial role as a precursor material in its synthesis process that can be applied in multiple industries, such as production automobiles, healthcare, and construction is propelling its market share penetration. They are applied in numerous industries ranging from automotive to sports equipment sector and due to stringent product requirement, the demand of these industries is increasing.
• The chemical sector is witnessing an escalation in the demand of formaldehydes by virtue of its usage in the preparation of important chemicals like acetic acids and polyolefins. These chemical compounds form a crucial basis for the processes of manufacture in packaging, construction, and automobile industries, envisioning formaldehyde as one of the widely needed and essential substances.
• The utilization of formaldehyde in the process of storing energy is changing and it is mostly being used for fuel cells in EVs and backup power sources.
• The speedy industrialization and fast urbanization brought by the developing countries compose the requesting consideration for formaldehyde. It has a wide functioning from the chemical, automobile, and construction sectors which leads the escalating economies to create these infrastructures and technologies.
• The shift in the marine industry towards cleaner fuel options has led to formaldehyde becoming an attractive candidate fuel as it has a low sulfur content and emits less at source.
• Rising investment in the petrochemical sector resulted in raising formaldehyde manufacturing. These investments not only increase the field's potential but also ensure the emergence of more advanced programs and technologies that enhance the Formaldehyde market.

Formaldehyde News

The report covers the latest developments, updates, and trends impacting the global formaldehyde industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in formaldehyde production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the formaldehyde price trend.

Latest developments in the formaldehyde industry:

• September 2024: Kanoria Chemicals is expanding its formaldehyde production capacity at Ankleshwar, Gujarat, by 345 metric tons per day. This investment of Rs. 56.06 crore utilized advanced technology to meet growing demand in various sectors.
• June 2024: Researchers at Indian Institutes of Science Education and Research (IISER) Tirupati developed a method to generate hydrogen from a mixture of methanol and formaldehyde using nickel catalysts under mild conditions. This innovation could serve as a key step toward a hydrogen economy by enabling sustainable hydrogen storage and transfer.

Product Description

Formaldehyde is an odorless and colorless gas which is often essential in chemical industries and in numerous manufacturing processes. This reactive compound is considered as an essential feedstock to produce a variety of materials and chemical compounds across different domains such as resins, plastics, textiles, and disinfectants. It is widely used in various industries, including automotive, construction, health care and agriculture sectors which are ideal for due to its bonding and protective properties. Production of formaldehyde is commonly carried out by catalytic oxidation of methanol, and it is the main foundation for many other monomeric derivatives and polymers. It is effective, versatile, and used as a building block in organic chemistry, which provides it with a high value in both industry and science.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of formaldehyde pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting formaldehyde price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The formaldehyde price charts ensure our clients remain at the forefront of the industry.