Formaldehyde market in Sweden

Earlier Report Observations

The formaldehyde market in Sweden, measured in physical volume, expanded sharply from 10 531 t in 2020 to 27 546 t in 2022. This growth was led by a more than doubling of the market to 25 844 t in 2021, driven primarily by a substantial rise in imports. Domestic production followed with a major increase in 2022, reaching 23 925 t.

The rise in domestic output was supported by a significant expansion of local production capacity. In December 2022, Johnson Matthey plc announced an expansion of its manufacturing facility in Perstorp, Sweden, aiming to increase its formaldehyde production capacity by approximately 50%. This investment directly enabled higher production volumes to meet growing demand. Concurrently, global industry trends, such as the adoption of bio-based methanol in formaldehyde production, signaled a shift toward more sustainable practices that influence the advanced Swedish chemical sector.

Activity in the market continued in the subsequent years. While comprehensive market size data is not available past 2022, trade flows persisted. The capacity expansion at the Perstorp plant remained an ongoing project into 2024 to cater to market requirements.

Production formaldehyde in Sweden

In value, 2017-2020, K $ US

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

In kind, 2017-2020, t

Annual dynamics of production in Sweden in kind, 2017-2020, t

Exports formaldehyde from Sweden

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Sweden's formaldehyde exports reached their lowest point in 2020 at 301 tonnes, which represents a 56.2% decrease compared to 2019. The highest export volume was recorded in 2018 at 762 tonnes, marking a 78.9% increase from the previous year. Overall, export levels varied by a factor of 2.5 between the 2018 peak and the 2020 low.

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

From 2017 to 2020, Denmark was the primary buyer of Swedish formaldehyde in volume terms, accounting for 66.0% of exports. Norway followed with 9.2%, and Finland with 7.4%. Together, these three countries represented 82.6% of Sweden's total formaldehyde exports by volume during this period.

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

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

Exports in value, K $ US

Sweden's formaldehyde exports in monetary terms amounted to 295 000 US dollars in 2020, a 20.2% decrease from the previous year. The largest annual increase occurred in 2019 at 1.9%. Between 2017 and 2020, overall exports declined by 26.5%, which translates to an average annual decrease of 9.8%.

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

Between 2017 and 2020, Finland was the leading buyer of Swedish formaldehyde in value terms, representing 27.1% of exports. Norway accounted for 24.1%, and Denmark for 23.6%. Combined, these three markets constituted 74.9% of Sweden's total formaldehyde export value during this timeframe.

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

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

Imports formaldehyde to Sweden

Imports in kind, t

Market behavior during these years was characterized by volatility. Sweden's formaldehyde imports reached their lowest point in 2020 at 1 448 tonnes, an 18.9% decrease from 2019. The highest import volume was recorded in 2018 at 7 575 tonnes, representing a 28.3% increase from the previous year. The most significant decline occurred in 2019 at 76.4%. Overall, import levels varied by a factor of 5.2 between the 2018 peak and the 2020 low.

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

From 2017 to 2020, Norway and Denmark were the core markets for Sweden's formaldehyde imports by volume, jointly accounting for 89.5% of total imports. Other destinations held comparatively modest shares during this period.

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

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

Imports in value, K $ US

Market behavior during these years showed considerable volatility. Sweden's formaldehyde imports in monetary terms amounted to 575 000 US dollars in 2020, down 14.3% from 2019. The highest import value was recorded in 2018 at 2 784 000 US dollars, marking a 30.2% increase from the previous year. The most significant decline occurred in 2019 at 75.9%. Overall, import levels fluctuated by a factor of 4.8 between the 2018 high and the 2020 low.

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

Between 2017 and 2020, Norway and Denmark concentrated the majority of Sweden's formaldehyde imports in value terms, while other markets formed a less significant portion of the import structure.

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

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