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World - Paraformaldehyde - Market Analysis, Forecast, Size, Trends And Insights
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View PricingGlobal Paraformaldehyde Market to Grow at a CAGR of +2.2% in Volume and +4.5% in Value from 2024 to 2030
IndexBox has just published a new report: World - Paraformaldehyde - Market Analysis, Forecast, Size, Trends And Insights.
Driven by increasing demand, the paraformaldehyde market is set to experience steady growth with a positive trend pattern. The anticipated growth rates indicate a promising future for the market, reaching significant volume and value milestones by 2030.
Market Forecast
Driven by increasing demand for paraformaldehyde worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.2% for the period from 2024 to 2030, which is projected to bring the market volume to 310K tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2024 to 2030, which is projected to bring the market value to $339M (in nominal wholesale prices) by the end of 2030.
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Consumption
World Consumption of Paraformaldehyde
For the sixth consecutive year, the global market recorded growth in consumption of paraformaldehyde, which increased by 5.7% to 272K tons in 2024. The total consumption volume increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 7.4% against the previous year. Over the period under review, global consumption hit record highs in 2024 and is likely to see steady growth in years to come.
The global paraformaldehyde market value skyrocketed to $260M in 2024, picking up by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.3% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2024 and is likely to continue growth in years to come.
Consumption By Country
The countries with the highest volumes of consumption in 2024 were South Korea (28K tons), the Netherlands (26K tons) and Spain (23K tons), with a combined 28% share of global consumption. The United States, Taiwan (Chinese), Japan, India, the UK, Myanmar and Bangladesh lagged somewhat behind, together comprising a further 36%.
From 2013 to 2024, the biggest increases were recorded for Myanmar (with a CAGR of +78.7%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest paraformaldehyde markets worldwide were South Korea ($39M), Spain ($22M) and the Netherlands ($21M), together comprising 32% of the global market. The United States, Taiwan (Chinese), Japan, the UK, India, Bangladesh and Myanmar lagged somewhat behind, together comprising a further 31%.
Among the main consuming countries, Myanmar, with a CAGR of +76.4%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of paraformaldehyde per capita consumption in 2024 were the Netherlands (1,471 kg per 1000 persons), Taiwan (Chinese) (773 kg per 1000 persons) and South Korea (540 kg per 1000 persons).
From 2013 to 2024, the biggest increases were recorded for Myanmar (with a CAGR of +77.5%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Paraformaldehyde
In 2024, production of paraformaldehyde increased by 6.9% to 286K tons, rising for the sixth consecutive year after two years of decline. The total output volume increased at an average annual rate of +3.0% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 9% against the previous year. Over the period under review, global production reached the maximum volume in 2024 and is likely to see steady growth in the near future.
In value terms, paraformaldehyde production expanded to $240M in 2024 estimated in export price. Overall, the total production indicated temperate growth from 2013 to 2024: its value increased at an average annual rate of +2.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.7% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, global production hit record highs at $246M in 2022; however, from 2023 to 2024, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2024 were Spain (74K tons), China (54K tons) and Taiwan (Chinese) (51K tons), together accounting for 63% of global production. The Netherlands, the United States, Germany, Indonesia and the UK lagged somewhat behind, together comprising a further 31%.
From 2013 to 2024, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Germany (with a CAGR of +353.3%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Paraformaldehyde
In 2024, the amount of paraformaldehyde imported worldwide reduced slightly to 186K tons, waning by -3.7% compared with the previous year's figure. In general, imports saw a slight descent. The pace of growth was the most pronounced in 2021 when imports increased by 19%. As a result, imports reached the peak of 221K tons. From 2022 to 2024, the growth of global imports remained at a somewhat lower figure.
In value terms, paraformaldehyde imports surged to $199M in 2024. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 62%. Over the period under review, global imports hit record highs in 2024 and are expected to retain growth in the near future.
Imports By Country
In 2024, South Korea (28K tons), followed by India (18K tons), Japan (16K tons), China (12K tons), Myanmar (10K tons), Bangladesh (9.9K tons), Djibouti (9.4K tons) and the United States (8.6K tons) were the largest importers of paraformaldehyde, together achieving 60% of total imports. Brazil (6.6K tons) and Thailand (6.3K tons) took a little share of total imports.
From 2013 to 2024, the biggest increases were recorded for Myanmar (with a CAGR of +78.7%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, South Korea ($58M) constitutes the largest market for imported paraformaldehyde worldwide, comprising 29% of global imports. The second position in the ranking was taken by India ($14M), with a 7.1% share of global imports. It was followed by Japan, with a 7% share.
From 2013 to 2024, the average annual rate of growth in terms of value in South Korea amounted to +17.1%. The remaining importing countries recorded the following average annual rates of imports growth: India (+0.1% per year) and Japan (+0.1% per year).
Import Prices By Country
In 2024, the average paraformaldehyde import price amounted to $1,073 per ton, surging by 26% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 when the average import price increased by 36% against the previous year. Over the period under review, average import prices reached the maximum in 2024 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($2,071 per ton), while Myanmar ($496 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+7.3%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Paraformaldehyde
In 2024, the amount of paraformaldehyde exported worldwide shrank modestly to 200K tons, waning by -1.7% compared with 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 23%. As a result, the exports attained the peak of 231K tons. From 2022 to 2024, the growth of the global exports remained at a somewhat lower figure.
In value terms, paraformaldehyde exports fell modestly to $167M in 2024. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 72% against the previous year. As a result, the exports attained the peak of $202M. From 2022 to 2024, the growth of the global exports failed to regain momentum.
Exports By Country
China (64K tons) and Spain (52K tons) were the major exporters of paraformaldehyde in 2024, amounting to approx. 32% and 26% of total exports, respectively. Taiwan (Chinese) (34K tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Germany (6.1%) and Indonesia (4.6%). The following exporters - India (6.8K tons) and the United States (6.4K tons) - each recorded a 6.6% share of total exports.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +67.6%), while the other global leaders experienced more modest paces of growth.
In value terms, Spain ($52M), China ($42M) and Taiwan (Chinese) ($28M) appeared to be the countries with the highest levels of exports in 2024, together accounting for 73% of global exports. Germany, the United States, Indonesia and India lagged somewhat behind, together accounting for a further 17%.
Indonesia, with a CAGR of +41.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2024, the average paraformaldehyde export price amounted to $838 per ton, leveling off at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices reached the maximum at $973 per ton in 2022; however, from 2023 to 2024, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Germany ($1,025 per ton), while Indonesia ($577 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+6.6%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global paraformaldehyde market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20146160 - Paraformaldehyde
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024