Formaldehyde market in Germany

Earlier Report Observations

The formaldehyde market in Germany showed considerable movement from 2018 to 2022, with market volume expanding rapidly from 144.3 thousand tons in 2018 to a high of 246.5 thousand tons in 2021. This growth was led by a sharp increase in domestic production, which reached 152.4 thousand tons in 2021, more than doubling since 2018. The market then contracted in 2022 to 197.0 thousand tons as production declined to 119.4 thousand tons.

In the following years, the market stabilized, with volume reaching 194.7 thousand tons in 2024. This period saw the entry of new players and strategic acquisitions, such as Methanex's takeover of OCI Global's methanol business, which helped expand production capacities. Additionally, a growing focus on renewable methanol as a chemical feedstock, supported by regulatory measures and technological advances, influenced production dynamics, contributing to a recovery in domestic output to 131.0 thousand tons by 2024.

Production formaldehyde in Germany

In value, 2017-2020, K $ US

Germany's formaldehyde production declined for the second year in a row. In 2020, output was valued at 24 925 thousand US dollars, down 7.6% year-on-year. Over the 2017-2020 period, production fell by 5.3%, with a compound annual growth rate of 1.8%. The highest value was recorded in 2018 at 28 734 thousand US dollars, which also saw the largest increase of 9.2%.

Annual dynamics of production in Germany in value, 2017-2020, K $ US

In kind, 2017-2020, K t

Market performance showed noticeable fluctuations during this period. The lowest production volume was in 2018 at 57.7 thousand tonnes, while the highest was in 2019 at 114.4 thousand tonnes, creating a two-fold gap. In 2020, Germany produced 108.9 thousand tonnes of formaldehyde, marking a modest 4.8% decline from the previous year. The largest increase occurred in 2019, with a 98.4% rise.

Annual dynamics of production in Germany in kind, 2017-2020, K t

Exports formaldehyde from Germany

Exports in kind, K t

Germany exported 38.9 thousand tonnes of formaldehyde in 2020, down 13.0% from the previous year. Over the 2017-2020 period, exports decreased by 7.4%, with a compound annual growth rate of 2.5%. The minimum value was in 2018 at 38.8 thousand tonnes, while the maximum was in 2019 at 44.7 thousand tonnes, which also saw the largest increase of 15.4%.

Annual dynamics of product's exports from Germany in kind, 2017-2020, K t

From 2017 to 2020, Poland, Belgium, and Switzerland were the key partners for Germany's formaldehyde exports in kind. Poland accounted for 31.2% of exports, Belgium for 25.5%, and Switzerland for 25.2%, together making up 81.9% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Germany in kind, 2017-2020

Exports in value, K $ US

After two years of improvement, formaldehyde shipments from Germany abroad declined. In 2020, exports were valued at 10 471 thousand US dollars, a sharp 25.6% reduction from 2019. Between 2017 and 2020, exports fell by 15%, equating to an annualized rate of 5.3%. The maximum value was recorded in 2019 at 14 083 thousand US dollars, while the largest increase was in 2018 at 7.4%.

Annual dynamics of product's exports from Germany in value, 2017-2020, K $ US

From 2017 to 2020, Belgium, Poland, and Switzerland led as the top buyers of formaldehyde from Germany in value terms. Belgium accounted for 24.2% of exports, Poland for 23.5%, and Switzerland for 22.9%, with their combined share reaching 70.5% of total exports.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Germany in value, 2017-2020

Imports formaldehyde to Germany

Imports in kind, K t

In 2020, Germany's formaldehyde imports amounted to 125.6 thousand tonnes, showing a limited decline of 6.3% from the previous year. Over the 2017-2020 period, imports decreased by 22.5%, with a compound annual growth rate of 8.1%. The minimum value was in 2018 at 125.4 thousand tonnes, which also saw the largest decline of 22.6%. The largest increase occurred in 2019 at 6.8%.

Annual dynamics of product's imports to Germany in kind, 2017-2020, K t

Throughout 2017-2020, the Netherlands was the main supplier of formaldehyde to Germany in kind, accounting for 84.3% of total imports, while other partners held relatively modest shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Germany in kind, 2017-2020

Imports in value, K $ US

Germany's formaldehyde import volume declined for the third consecutive year. In 2020, imports were valued at 10 471 thousand US dollars, reflecting a strong decrease of 23.8% compared to the previous year. Between 2017 and 2020, imports fell by 51.1%, equating to an annualized rate of 21.2%.

Annual dynamics of product's imports to Germany in value, 2017-2020, K $ US

From 2017 to 2020, the Netherlands dominated Germany's formaldehyde imports in value terms, accounting for 79.8% of total flows, with the remaining share distributed among various smaller destinations.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Germany in value, 2017-2020