Report Update Nov 1, 2024

Kuwait - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends and Insights

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Kuwait: Formaldehyde Market 2024

Formaldehyde Market Size in Kuwait

The Kuwaiti formaldehyde market contracted to $X in 2022, stabilizing at the previous year. In general, consumption saw a slight setback. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Formaldehyde Production in Kuwait

In value terms, formaldehyde production fell slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Formaldehyde Exports

Exports from Kuwait

In 2022, overseas shipments of formaldehyde were finally on the rise to reach X tons after five years of decline. In general, exports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2016 with an increase of 331%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, formaldehyde exports rose significantly to $X in 2022. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 329%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for formaldehyde exports from Kuwait, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at -4.0%.

In value terms, Saudi Arabia ($X) also remains the key foreign market for formaldehyde exports from Kuwait.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia stood at -6.3%.

Export Prices by Country

The average formaldehyde export price stood at $X per ton in 2022, with an increase of 3.2% against the previous year. Overall, the export price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 48%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Iraq amounted to +94.5% per year.

Formaldehyde Imports

Imports into Kuwait

In 2022, approx. X tons of formaldehyde were imported into Kuwait; reducing by -9.5% on 2021 figures. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 331%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, formaldehyde imports fell to $X in 2022. Overall, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 250%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest formaldehyde supplier to Kuwait, accounting for a 71% share of total imports. Moreover, formaldehyde imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+93.2% per year) and the Netherlands (+96.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of formaldehyde to Kuwait, comprising 65% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by Germany, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +87.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-4.9% per year) and Germany (+61.6% per year).

Import Prices by Country

The average formaldehyde import price stood at $X per ton in 2022, growing by 4.6% against the previous year. In general, the import price, however, continues to indicate a mild shrinkage. The growth pace was the most rapid in 2013 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 United Arab Emirates ($X per ton), while the price for the Netherlands ($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 (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for formaldehyde in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 47% share of global consumption.

What are the largest producers of formaldehyde in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 47% share of global production. These countries were followed by Japan, Russia, Brazil, Indonesia, Pakistan, Mexico, Italy, the Netherlands, Hungary and Germany, which together accounted for a further 30%.

What are the leading suppliers of formaldehyde to Kuwait?

In value terms, the United Arab Emirates, Saudi Arabia and France constituted the largest formaldehyde suppliers to Kuwait, with a combined 91% share of total imports.

What are the leading importers of formaldehyde from Kuwait?

In value terms, Syrian Arab Republic and Jordan were the largest markets for formaldehyde exported from Kuwait worldwide.

What is the average export price for formaldehyde in Kuwait?

In 2018, the average formaldehyde export price amounted to $371 per ton, surging by 8.6% against the previous year.

What is the average import price for formaldehyde in Kuwait?

The average formaldehyde import price stood at $590 per ton in 2021, dropping by -2.9% against the previous year.

This report provides an in-depth analysis of the formaldehyde market in Kuwait. 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 20146111 - Methanal (formaldehyde)

Country coverage:

Kuwait

Data coverage:

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

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

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