Middle East: Paraformaldehyde Market 2024

Paraformaldehyde Market Size in the Middle East

The Middle Eastern paraformaldehyde market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Paraformaldehyde Production in the Middle East

In value terms, paraformaldehyde production declined modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Paraformaldehyde Exports

Exports in the Middle East

After two years of decline, shipments abroad of paraformaldehyde increased by X% to X tons in 2022. In general, exports saw tangible growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, paraformaldehyde exports amounted to $X in 2022. Total exports indicated a mild 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 pace of growth was the most pronounced in 2016 when exports increased by X%. The level of export peaked 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) represented the key exporter of paraformaldehyde, creating 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) followed a long way behind the leaders.

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 the Middle East, with a CAGR of X% from 2012-2022. Iran (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. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest paraformaldehyde supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Iran ($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 the Middle East stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price showed a perceptible slump. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 the Middle East

Paraformaldehyde imports declined slightly to X tons in 2022, dropping by X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, paraformaldehyde imports expanded significantly to $X in 2022. Total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) dominates imports structure, together achieving X% of total imports. Kuwait (X tons) took the next position in the ranking, followed by Israel (X tons) and Iran (X tons). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iran ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Iran, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs 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 mixed trends in the import price figures.

Source: IndexBox Platform

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