Formaldehyde Industry Trend:
The global formaldehyde Industry is driven by increasing demand in the construction sector, particularly in emerging economies where infrastructure projects are expanding. Additionally, its use in automotive coatings and plastics manufacturing continues to rise.Formaldehyde Price Chart indicates a shift towards eco-friendly formaldehyde derivatives due to stringent environmental regulations and consumer demand for sustainable products. Growth in the healthcare and pharmaceutical sectors, where formaldehyde is used for sterilization and in certain medical products, also supports market expansion.
Price of Formaldehyde Last Quarter:
- United States: 462 USD/MT
- Saudi Arabia: 257 USD/MT
- Germany: 521 USD/MT
Key Details About the Formaldehyde:
Formaldehyde, a simple chemical compound, is widely used in various industrial applications such as adhesives, textiles, and construction materials. Known for its versatility, formaldehyde is primarily employed in producing resins like urea-formaldehyde and phenol-formaldehyde, essential in the manufacturing of plywood, particleboard, and insulation.
Factors Influencing Formaldehyde Price Trend Across Regions
Formaldehyde Price Trend in North America
In Q1 2024, the North American formaldehyde trend improved as demand from adhesive and disinfectant sectors increased, reducing the surplus from Q4 2023. Lower production costs and stable methanol prices contributed to market growth, with the USA leading in production and exports. Although a temporary shutdown occurred at Foremark Performance Chemicals in Texas, it had minimal impact, and formaldehyde prices rose due to decreased supply and increased export orders.
Formaldehyde Price Trend in the APAC Region
The APAC region saw bearish sentiment in Q1 2024, driven by sluggish demand and high supply. Downstream sheet metal and plate factories reduced consumption, contributing to slow market activity. Despite adequate supply, higher prices due to limited availability constrained purchases. Weak post-holiday demand from downstream industries further dimmed recovery prospects, resulting in a subdued market atmosphere with slow purchasing and negotiations.
Formaldehyde Price Trend in Europe
In Q1 2024, Europe’s formaldehyde industry faced weak fundamentals and reduced demand from downstream industries, leading to oversupply and price declines. Despite suppliers in the Netherlands offering attractive deals, slow demand recovery and supply pressure kept the market bearish. Germany experienced a notable price drop, driven by cautious downstream operations. Although there were no shutdowns, low demand in the disinfectant sector and high inventories hindered recovery efforts.
Formaldehyde Price Trend in the MEA Region
The MEA formaldehyde price trend continued its bearish trend in Q1 2024, with weak demand and abundant supply. Saudi Arabia, a key producer, saw inventories accumulate due to reduced demand, leading to significant price declines. The global economic slowdown also dampened petrochemical demand, further affecting market conditions. Despite low purchasing activity and high production costs, the market in Saudi Arabia remained stable, with no major disruptions in supply and demand dynamics.
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Price Trend Overview and Detailed Regional Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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