MENA: Paraformaldehyde Market 2024

Paraformaldehyde Market Size in MENA

After two years of growth, the MENA's paraformaldehyde market decreased by X% to $X in 2022. The total consumption indicated a moderate 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, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Paraformaldehyde Production in MENA

In value terms, paraformaldehyde production dropped to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Paraformaldehyde Exports

Exports in MENA

In 2022, overseas shipments of paraformaldehyde were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports saw pronounced growth. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, paraformaldehyde exports amounted to $X in 2022. Total exports indicated a modest increase 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 decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Saudi Arabia (X tons) was the major exporter of paraformaldehyde, constituting X% of total exports. It was distantly followed by Iran (X tons), creating a X% share of total exports. The United Arab Emirates (X tons) held a little 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%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest paraformaldehyde supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked 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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Paraformaldehyde Imports

Imports in MENA

After six years of growth, supplies from abroad of paraformaldehyde decreased by X% to X tons in 2022. Over the period under review, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, paraformaldehyde imports shrank significantly to $X in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

Djibouti represented the largest importer of paraformaldehyde in MENA, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Turkey (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons) and Tunisia (X tons). All these countries together held near X% share of total imports. The following importers - Kuwait (X tons), Israel (X tons) and Iran (X tons) - together made up X% of total imports.

Djibouti was also the fastest-growing in terms of the paraformaldehyde imports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%), the United Arab Emirates (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Tunisia (X%), Israel (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Djibouti and Iran increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Djibouti ($X) constitutes the largest market for imported paraformaldehyde in MENA, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total imports. It was followed by Turkey, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Djibouti totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Djibouti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform