Procurement Resource provides latest prices of Formaldehyde. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Get the latest insights on price movement and trend analysis of Formaldehyde in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
During the said quarter, the market for the chemical witnessed many variations in the Chinese domestic arena. The market for the feedstock methanol remained stagnant; however, a slight increase was seen in its supply towards the end of the quarter. Despite the rising cost of feedstock, no parallel rise in the price of formaldehyde was registered due to sluggish market sentiments.
The fear of global recession and the wait-and-see attitude of the buyers have kept the prices towards the lower end of the scale. Formaldehyde price per ton averaged 1260-1320 RMB in Shandong, China.
Due to the mismatch in the market dynamics, formaldehyde prices soared across the European market. The constricted supply of feedstock methanol coupled with the solid downstream demand led the prices to inflate in the market.
Initially, the price trends of formaldehyde in the US domestic market remained on the lower side due to the common market sentiment, tightened feedstock supply, and limited imports. However, towards the end of said quarter, a slight increase was recorded due to the renewed purchasing capacity of the domestic market by the disinfectants and cosmetics industries.
Methanal Price Trend for the First Quarter of 2022
Formaldehyde prices in Shandong increased on March 22. On March 21, the average price of the chemical in Shandong was 1,382.50 RMB/MT, and on March 22, it rose to 1,432.50 RMB/MT, an increase of 3.62%. In the first quarter of 2022, the chemical's market had grown. The mainstream market price in Shandong was 1,400-1,550 RMB/MT in March. The raw material methanol market had started to grow, cost support was strong, and downstream sheet plant purchasing attitude was acceptable.
Formolin Price Trend for the Fourth Quarter of 2021
In Asia Pacific, prices increased in October before declining in the final two months of the quarter. In December, the price in India was 315 USD/MT. Rising natural gas prices contributed to the cost of methanol in the beginning half of Q4, resulting in a sharp increase in downstream product prices. The price decline in the second half of Q4 was mostly due to lower methanol prices and an influx of imports from China. Domestic formaldehyde inventories in China increased due to decreasing downstream use and low offtake volumes. China's formaldehyde prices also fell to their lowest point in December, with a spot price of 203 USD/MT Ex-Shangdao, with a decline in exports to Malaysia and South Korea.
Formalehyde prices fell in Q4 compared to Q2 and Q3 as a result of ample supply and weakening demand in Germany, Belgium, and other European countries. As a result of the lower methanol costs, the price of formaldehyde has also dropped. Due to weak trading activity and sluggish consumer demand, demand for in food, paint, and cosmetics has decreased. Due to oversupply, exports to the Asian market also decreased near the end of Q4. Another factor that has lowered costs is the impending new year, which is expected to be cautious and low in demand. The price was recorded at 458 USD/MT in the final quarter of the year.
When compared to Q2 and Q3, formaldehyde prices in Q4 were on the lower side. Methanol prices declined in the United States in the fourth quarter of 2021, owing to a slowdown in industrial applications and fuel consumption, as well as an increase in Omicron instances. Because of the fall in the automotive and housing industries, formaldehyde production decreased. Due to ample supply and a bad business environment, imports to South America were reduced. The decline was accentuated by the seasonal slowdown in demand as the New Year approached. The difference between spot and contract methanol prices grew after two of the main manufacturers, Methanex and Southern Chemical, established December contract prices.
Formol Price Trend for First, Second and Third Quarters of 2021
On the strength of fluctuating demand from downstream sectors, the Asian market saw frequent fluctuations in formaldehyde prices in the second quarter. Prices in India rose until the end of May due to expensive cargoes from Germany and the United States, but then fell in June as feedstock prices in the respective parent nation fell. In this quarter, Germany received the most cargoes in India, followed by the United States and the United Kingdom. As a result, during the last week of June, prices in India hovered around 274 USD/MT. In China, a similar dynamic was found, with prices fluctuating in response to changes in downstream demand. The industrial disinfectant segment accounted for the majority of the demand. In September, the market in Shandong increased. The average price of Shandong was 1370 RMB/MT at the start of the month.
The resumption of Norway's methanol plant, Equinor, in Feb'21, which was shut down due to a fire in Dec'20, improved the supply crisis for the chemical in Europe. However, with the rising demand from downstream sectors and comparatively lower supply due to several turnarounds of methanol plants in Europe, formaldehyde prices rose in H1-21. As a result, the average price in the first three quarters of 2021 was 365 USD/MT.
Due to a substantial lack of feedstock methanol across the region, the US market had a supply deficit in Q1 2021. The ongoing issue of methanol, which began in Q4 2020 owing to various hurricanes across the region, was reignited by a winter storm in the Gulf region. Due to the frigid temperatures, major methanol and formaldehyde factories in Texas had power disruptions. Formaldehyde prices climbed swiftly in response to high demand for the methanol for fuel and insufficient supply, but this price acceleration is expected to level down with the coming of summers in the region.
Methyl Aldehyde Price Trend for the Year 2020
Following a solid recovery from COVID-19, China's feedstock methanol market had a sharp comeback in Q4 2020. Methanol prices varied in a range of 260-280 USD/MT at the end of November 2020, owing to expectations of constrained methanol supply from Iran during Q4 2020 in China. Due to these shortages, formaldehyde prices increased dramatically during the quarter. Due to the closure of some production units in North India, supply of the chemical in India had been disrupted. These closures were caused by a lack of environmental clearances; numerous plants were apparently operating without or with expired environmental clearances. As a result, there was a shortage of formaldehyde in India, which resulted in a price increase from 147.5 USD/MT in September 2020 to 205.16 USD/MT in December 2020.
In December, a fire broke out in a high-capacity methanol manufacturing plant owned by Equinor, a major European methanol producer. With a capacity of 900,000 tonnes per year, this plant contributes for more than 25% of Europe's total methanol output. Formaldehyde production in Europe was disrupted by the shutdown. Formaldehyde and other derivative chemicals saw significant price increases due to a shortage of upstream products. Average prices were 270 USD/MT.
Methanol output in the United States has been low as a result of unplanned plant shutdowns in the Gulf of Mexico caused by Hurricane Zeta in November. The good global demand for methanol over the winter season, combined with a supply constraint, resulted in price increases for both methanol and its downstream product formaldehyde. During the final quarter of 2020, the downstream market was rebounding and expanding, particularly in Asian countries. As a result, imports from the United States grew, despite the fact that production of formaldehyde remained low enough to meet demand.
Formaldehyde in appearance is basically a colourless gas that is prepared from methanol. It is utilised as an antiseptic, disinfectant, and general-purpose chemical reagent for laboratory applications. It has a pungent odour. It is a chemical compound that is readily miscible in water and gets distributed as a 37% solution in water; formalin, a 10% solution of formaldehyde in water, is utilised as a disinfectant and to preserve biological specimens.
|Industrial Uses||Formaldehyde resins, Chemical intermediate, Fabrics, Automobiles, Electrical systems, Moulded products, Analytical reagent in agriculture, Concrete and plaster additives, Cosmetics, Disinfectants, Wood preservation, Urea-formaldehyde resins, Building insulation, Sanitary paper products|
|Molecular Weight||30.026 g/mol|
|Synonyms||50-00-0, Methanal, Formalin, Formol, Methyl aldehyde|
|Supplier Database||BASF SE, Perstorp Holding AB, Alder S.p.A , Celanese Corporation|
|Region/Countries Covered||Asia Pacific: China , India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
To produce Formaldehyde from methanol, a procedure known as catalytic oxidation is performed. In this process, methanol is oxidised in the presence of a catalyst like silver metal or a mixture of an iron and vanadium oxides to finally obtain Formaldehyde.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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