Report Update Nov 1, 2024

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

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

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

The Egyptian market for formic acid, its salts and esters fell to $X in 2021, dropping by -13% against the previous year. Overall, consumption continues to indicate prominent growth. Consumption of peaked at $X in 2020, and then contracted in the following year.

Production of Formic Acid, Its Salts And Esters in Egypt

In value terms, production of formic acid, its salts and esters dropped markedly to $X in 2021 estimated in export price. Overall, production showed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. As a result, production attained the peak level of $X, and then fell notably in the following year.

Exports of Formic Acid, Its Salts And Esters

Exports from Egypt

Exports of formic acid, its salts and esters from Egypt soared to X tons in 2021, growing by 175% against 2020. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 398%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, exports of formic acid, its salts and esters surged to $X in 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 778% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Sudan (X tons) was the main destination for exports of formic acid, its salts and esters from Egypt, accounting for a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Sudan stood at +28.1%.

In value terms, Sudan ($X) emerged as the key foreign market for formic acid, its salts and esters exports from Egypt.

From 2012 to 2021, the average annual growth rate of value to Sudan amounted to +81.5%.

Export Prices by Country

The average export price for formic acid, its salts and esters stood at $X per ton in 2021, growing by 17% against the previous year. Overall, the export price saw a significant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 1,310% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Norway amounted to +1,652.5% per year.

Imports of Formic Acid, Its Salts And Esters

Imports into Egypt

In 2021, supplies from abroad of formic acid, its salts and esters was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2018 when imports increased by 1,629% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of formic acid, its salts and esters skyrocketed to $X in 2021. Overall, imports saw moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 2,880%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest formic acid, its salts and esters supplier to Egypt, with a 29% share of total imports. Moreover, imports of formic acid, its salts and esters from the UK exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from the UK amounted to -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Germany (-0.9% per year).

In value terms, the UK ($X) constituted the largest supplier of formic acid, its salts and esters to Egypt, comprising 76% of total imports. The second position in the ranking was taken by China ($X), with a 3.5% share of total imports. It was followed by Italy, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK stood at +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.9% per year) and Italy (+23.7% per year).

Import Prices by Country

The average import price for formic acid, its salts and esters stood at $X per ton in 2021, waning by -15.2% against the previous year. In general, the import price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 72%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then reduced dramatically in the following year.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+24.8%), 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?

The country with the largest volume of consumption of formic acid, its salts and esters was China, 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?

China remains the largest formic acid, its salts and esters producing country worldwide, 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 Egypt?

In value terms, Germany, China and Finland constituted the largest formic acid, its salts and esters suppliers to Egypt, together accounting for 73% of total imports. Sweden, Taiwan Chinese), Norway and Italy lagged somewhat behind, together comprising a further 15%.

What are the leading importers of formic acid, its salts and esters from Egypt?

In value terms, Sudan remains the key foreign market for formic acid, its salts and esters exports from Egypt.

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

The average export price for formic acid, its salts and esters stood at $153 per ton in 2020, standing approx. at the previous year.

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

In 2020, the average import price for formic acid, its salts and esters amounted to $493 per ton, which is down by -64.1% against the previous year.

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

Egypt

Data coverage:

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

Reasons to buy this report:

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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
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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.

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