Indonesia: Formaldehyde Market 2025

Formaldehyde Market Size in Indonesia

The Indonesian formaldehyde market contracted slightly to $X in 2022, approximately reflecting the previous year. In general, consumption recorded a mild reduction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Formaldehyde Production in Indonesia

In value terms, formaldehyde production declined to $X in 2022 estimated in export price. Overall, production saw a mild decline. The growth pace was the most rapid in 2016 when the production volume increased by 41%. Formaldehyde production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Formaldehyde Exports

Exports from Indonesia

In 2022, after six years of growth, there was significant decline in shipments abroad of formaldehyde, when their volume decreased by -23.7% to X tons. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,237%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, formaldehyde exports shrank notably to $X in 2022. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2013 with an increase of 1,737%. The exports peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

The Philippines (X tons) was the main destination for formaldehyde exports from Indonesia, with a 95% share of total exports. Moreover, formaldehyde exports to the Philippines exceeded the volume sent to the second major destination, Myanmar (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines totaled +50.1%.

In value terms, the Philippines ($X) remains the key foreign market for formaldehyde exports from Indonesia, comprising 90% of total exports. The second position in the ranking was taken by Myanmar ($X), with an 8.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +53.3%.

Export Prices by Country

In 2022, the average formaldehyde export price amounted to $X per ton, dropping by -1.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to the Philippines stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+40.2%), while the prices for the other major destinations experienced more modest paces of growth.

Formaldehyde Imports

Imports into Indonesia

In 2022, overseas purchases of formaldehyde decreased by -24.4% to X tons, falling for the fifth consecutive year after two years of growth. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 269%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, formaldehyde imports rose slightly to $X in 2022. Over the period under review, imports recorded a mild shrinkage. The growth pace was the most rapid in 2016 with an increase of 238% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of formaldehyde to Indonesia, accounting for a 85% share of total imports. Moreover, formaldehyde imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Germany (X kg), more than tenfold. The third position in this ranking was held by the UK (X kg), with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled -11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.7% per year) and the UK (+10.7% per year).

In value terms, Germany ($X), the UK ($X) and Saudi Arabia ($X) appeared to be the largest formaldehyde suppliers to Indonesia, together accounting for 63% of total imports.

Among the main suppliers, Germany, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average formaldehyde import price amounted to $X per ton, jumping by 39% against the previous year. In general, the import price saw a strong increase. The pace of growth was the most pronounced in 2015 an increase of 93%. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+96.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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