Report Update Nov 1, 2024

Angola - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Angola: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in Angola

After two years of decline, the Angolan market for formic acid, its salts and esters increased by 1.3% to $X in 2021. Overall, consumption showed a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Formic Acid, Its Salts And Esters in Angola

In value terms, production of formic acid, its salts and esters totaled $X in 2021 estimated in export price. In general, production showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Formic Acid, Its Salts And Esters

Exports from Angola

For the third year in a row, Angola recorded decline in shipments abroad of formic acid, its salts and esters, which decreased by -28.2% to X tons in 2021. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 83% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of formic acid, its salts and esters contracted markedly to $X in 2021. Overall, exports saw a deep slump. The growth pace was the most rapid in 2017 with an increase of 45%. Over the period under review, the exports of attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for exports of formic acid, its salts and esters from Angola, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Nigeria amounted to -13.5%.

In value terms, Nigeria ($X) also remains the key foreign market for formic acid, its salts and esters exports from Angola.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria stood at -9.6%.

Export Prices by Country

In 2021, the average export price for formic acid, its salts and esters amounted to $X per ton, surging by 18% against the previous year. In general, the export price posted a prominent expansion. The growth pace was the most rapid in 2017 when the average export price increased by 60%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Congo amounted to +50.5% per year.

Imports of Formic Acid, Its Salts And Esters

Imports into Angola

In 2021, the amount of formic acid, its salts and esters imported into Angola fell significantly to X tons, reducing by -24% against the previous year. Overall, imports showed a perceptible contraction. The pace of growth was the most pronounced in 2019 when imports increased by 3,650%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of formic acid, its salts and esters dropped modestly to $X in 2021. In general, imports, however, recorded resilient growth. The growth pace was the most rapid in 2019 when imports increased by 4,928%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of imports of formic acid, its salts and esters to Angola, with a combined 66% share of total imports. The UK, South Africa, Namibia and Congo lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Namibia (with a CAGR of +72.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of formic acid, its salts and esters to Angola, comprising 50% of total imports. The second position in the ranking was held by Congo ($X), with a 20% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Congo (+65.8% per year) and Belgium (+20.0% per year).

Import Prices by Country

In 2021, the average import price for formic acid, its salts and esters amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, the import price showed a buoyant increase. The growth pace was the most rapid in 2015 when the average import price increased by 89%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Congo ($X per ton), while the price for Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Congo (+27.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for formic acid, its salts and esters in the world?

China remains the largest formic acid, its salts and esters consuming country worldwide, comprising approx. 26% of total volume. Moreover, consumption of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of formic acid, its salts and esters in the world?

The country with the largest volume of production of formic acid, its salts and esters was China, comprising approx. 41% of total volume. Moreover, production of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. The third position in this ranking was occupied by India, with an 8.1% share.

What are the leading suppliers of formic acid, its salts and esters to Angola?

In value terms, the United States constituted the largest supplier of formic acid, its salts and esters to Angola, comprising 87% of total imports. The second position in the ranking was occupied by the Netherlands, with a 7.6% share of total imports. It was followed by Belgium, with a 0.8% share.

What is the average export price for formic acid, its salts and esters in Angola?

The average export price for formic acid, its salts and esters stood at $3,957 per ton in 2019, approximately reflecting the previous year.

What is the average import price for formic acid, its salts and esters in Angola?

In 2020, the average import price for formic acid, its salts and esters amounted to $13,151 per ton, with an increase of 11% against the previous year.

This report provides an in-depth analysis of the market for formic acid, its salts and esters in Angola. 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 20143250 - Formic acid, its salts and esters

Country coverage:

Angola

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Angola
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023