GCC: Paraformaldehyde Market 2024

Paraformaldehyde Market Size in GCC

In 2022, the GCC paraformaldehyde market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Paraformaldehyde Production in GCC

In value terms, paraformaldehyde production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Paraformaldehyde Exports

Exports in GCC

In 2022, the amount of paraformaldehyde exported in GCC rose remarkably to X tons, growing by X% compared with 2021. Over the period under review, exports recorded a notable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, paraformaldehyde exports reduced to $X in 2022. Total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was near X% of total exports in 2022. The following exporters - the United Arab Emirates (X tons) and Kuwait (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to paraformaldehyde exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest paraformaldehyde supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Saudi Arabia, paraformaldehyde exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a noticeable decline. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.

Paraformaldehyde Imports

Imports in GCC

Paraformaldehyde imports skyrocketed to X tons in 2022, picking up by X% on 2021. Overall, imports showed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, paraformaldehyde imports soared to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates represented the key importer of paraformaldehyde in GCC, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Kuwait (X tons), making up a X% share of total imports. Saudi Arabia (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the paraformaldehyde imports, with a CAGR of X% from 2012 to 2022. Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported paraformaldehyde in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform