South Africa Sees 16% Surge in Paraformaldehyde Imports, Reaching $2.5 Million in 2024 – IndexBox, Inc.

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For the fourth consecutive year, South Africa recorded growth in purchases abroad of paraformaldehyde, which increased by 20% to 2.9K tons in 2024. Over the period under review, total imports indicated a noticeable expansion from 2014 to 2024: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +108.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 52%. Imports peaked in 2024 and are expected to retain growth in the immediate term.
In value terms, paraformaldehyde imports surged to $2.5M (IndexBox estimates) in 2024. In general, imports enjoyed noticeable growth. The most prominent rate of growth was recorded in 2021 with an increase of 84% against the previous year. Imports peaked at $2.5M in 2022; afterwards, it flattened through to 2024.

Imports by Country

Germany (1.1K tons), China (1K tons) and Spain (488 tons) were the main suppliers of paraformaldehyde imports to South Africa, together accounting for 89% of total imports.
From 2014 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest paraformaldehyde suppliers to South Africa were Germany ($964K), China ($821K) and Spain ($418K), with a combined 90% share of total imports.
Among the main suppliers, China, with a CAGR of +16.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
In 2024, the paraformaldehyde price amounted to $834 per ton (CIF, South Africa), dropping by -3.7% against the previous year. Over the period under review, the import price saw a slight decrease. The growth pace was the most rapid in 2022 an increase of 33% against the previous year. As a result, import price attained the peak level of $1,030 per ton. From 2023 to 2024, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was the UK ($1,429 per ton), while the price for the United States ($532 per ton) was amongst the lowest.
From 2014 to 2024, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.3%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the paraformaldehyde market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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