Belarus: Formaldehyde Market 2025

Formaldehyde Market Size in Belarus

In 2022, the Belarusian formaldehyde market decreased by -15.2% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption showed a pronounced reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Formaldehyde Exports

Exports from Belarus

For the third year in a row, Belarus recorded growth in overseas shipments of formaldehyde, which increased by 35% to X tons in 2014. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 53%. Over the period under review, the exports reached the peak figure in 2014 and are expected to retain growth in the near future.

In value terms, formaldehyde exports surged to $X in 2014. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 48% against the previous year. The exports peaked in 2014 and are likely to see steady growth in years to come.

Exports by Country

Ukraine (X tons) was the main destination for formaldehyde exports from Belarus, with a 82% share of total exports. Moreover, formaldehyde exports to Ukraine exceeded the volume sent to the second major destination, Poland (X tons), sixfold.

From 2012 to 2014, the average annual rate of growth in terms of volume to Ukraine totaled +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+74.8% per year) and Russia (+109.2% per year).

In value terms, Ukraine ($X) remains the key foreign market for formaldehyde exports from Belarus, comprising 80% of total exports. The second position in the ranking was taken by Russia ($X), with a 13% share of total exports.

From 2012 to 2014, the average annual rate of growth in terms of value to Ukraine stood at +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+80.4% per year) and Poland (+54.9% per year).

Export Prices by Country

In 2014, the average formaldehyde export price amounted to $X per ton, waning by -1.8% against the previous year. Over the period under review, the export price saw a noticeable downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2014, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (-2.6%), while the prices for the other major destinations experienced a decline.

Formaldehyde Imports

Imports into Belarus

After two years of growth, purchases abroad of formaldehyde decreased by -7.4% to X tons in 2022. Overall, imports saw a mild curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 319% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, formaldehyde imports contracted remarkably to $X in 2022. Over the period under review, imports continue to indicate a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of 349%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) was the main formaldehyde supplier to Belarus, accounting for a 99% share of total imports. It was followed by Lithuania (X tons), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled -1.1%.

In value terms, Russia ($X) constituted the largest supplier of formaldehyde to Belarus, comprising 88% of total imports. The second position in the ranking was held by Lithuania ($X), with a 1.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Russia stood at -4.9%.

Import Prices by Country

In 2022, the average formaldehyde import price amounted to $X per ton, which is down by -11.2% against the previous year. In general, the import price saw a perceptible contraction. The pace of growth appeared the most rapid in 2021 an increase of 32% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+20.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :