Forecast of Formalin Market Development in India
The relevance of research
Formalin is widely used in the production of synthetic resins, fibers, rubber, plastics, and organic dyes. It is used in metallurgy, oil and petrochemical industry, leather and fur production, agriculture and paper industry.
Purpose of the study
Analysis of the state of the formalin market in India, assessment of the market size, analysis of competitors, as well as identification of factors affecting the formalin market
Content
Chapter 1. Key Components of the Formalin Market
1.1. Market size
1.2. Formalin Market Growth Rate
1.3. The ratio of imported and domestic products in the market
1.4. Volume and dynamics of formalin production
1.5. Import of formalin. Volume and dynamics
1.6. Export of formalin. Volume and dynamics
1.7. Share of exports in production
Chapter 2. Economic characteristics of the market
2.1. Formalin Market Trends
2.2. The main problems of the industry
2.3. Estimation of the number of buyers and their financial capabilities
2.4. Estimated consumption per capita
2.5. Analysis of sectoral indicators of financial and economic activity
2.6. Compact location of industry companies in certain regions
2.7. Formalin Market Life Cycle Stage
Chapter 3
3.1. Economic components
3.2. Social Components
3.3. Technological components
3.4. Political Components
3.5. STEP analysis of the formalin market
Chapter 4. Assessment of the degree of competition
4.1. Scale of competition (local, regional, national, global)
4.2. Number of competitors and relative market shares of the largest competitors
4.3. Competition from substitute products
Chapter 5 Industry Forecasts
5.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
5.2. Analysis of the impact on the state aid industry at the current date
5.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the formalin market
5.4. Formalin Market Growth Prospects and Drivers
5.5. Forecast of formalin market development in the context of the current economic crisis due to covid-19
Chapter 6 Forecasting Methodology
6.1. Methods for forecasting key industry indicators
6.2. Sources of information for forecasting
6.3. Timing of forecasting
Research excerpt
Chapter 1. Key Components of the Formalin Market
1.1. Market size
Formalin is an aqueous solution of formaldehyde stabilized with methanol. Formalin is widely used in the production of ...
In recent years, the global market has seen a trend towards…
Formalin consumers are, first of all, Indian companies engaged in …
At the end of 2020, the volume of the formalin market amounted to … thousand tons, which is below the level of 2019 by …%. During the year, there was a decrease in demand for formalin from ... The introduction of ...
1.2. Formalin Market Growth Rate
The volume of the formalin market is significantly influenced by production volumes. Despite the market decline in 2019–2020, over the entire study period, the market has …% or … thousand tons.
1.3. The ratio of imported and domestic products in the market
...
1.4. Volume and dynamics of formalin production
Until 2018, chemical industry enterprises increased the production of formalin - over a five-year period, the increase amounted to ...%.
Diagram 3. Dynamics of formalin production volumes in India, 2013–2020, thousand tons
In 2019, …% was observed against the background of ... In 2020, against the background of coronavirus restrictions and the crisis, the trend worsened – production of …% amounted to … thousand tons.
In 2020, the production of formalin decreased most significantly in … region by the company “…”. Note that in November 2021 …
1.5. Import of formalin. Volume and dynamics
The maximum volume of formalin imports was observed in 2020 - ... ton, which exceeded the level of 2019 in ...
The growth was due to the supply of ... In 2019, the country imported to India only ... formalin, in 2020 ...
In general, for Jan.-Oct. In 2021, … tons of formalin have already been delivered to India.
In monetary terms, the dynamics of imports is different. At the end of 2020, the volume of imports increased … and amounted to … thousand US dollars. For Jan.-Oct. In 2021, the volume of imports amounted to …
1.6. Export of formalin. Volume and dynamics
Export of formalin for 2013–2020 ... At the end of 2020, the volume of deliveries abroad amounted to … thousand tons. The largest amount of formalin was sent to … (… thousand tons), … (… thousand tons) and …
For Jan.-Oct. In 2021, formalin exports in physical terms amounted to … thousand tons, which is …% higher than in the same period last year. Leading Recipient Countries…
The volume of export of formalin in monetary terms in 2020 amounted to … million US dollars, having decreased by …% compared to 2019, which indicates …
1.7. Share of exports in production
The share of exports in formalin production is quite …%. Almost all of the formalin produced is used... Wherein most of the formalin in India is consumed by its...
Chart 8. Share of exports in production, 2013–2020, %
Chapter 2. Economic characteristics of the market
2.1. Formalin Market Trends
Among the trends in the formalin market, it should be noted:
...
2.2. The main problems of the industry
The main issues in the industry include:
...
2.3. Estimation of the number of buyers and their financial capabilities
...
The resident population of India as of January 1, 2021, according to preliminary …, amounted to … million people, which is … thousand people less than on January 1, 2020. countries …
Overall, according to the cabinet estimate, India's population will be...
At the same time, the dynamics of real incomes of the population during 2014-2017. population …, so in 2014 real incomes decreased by …% compared to 2013, in 2015 – by …% compared to 2014, in 2016 – the situation worsened even more – …
According to the results of 2019, the real money incomes of Indians …%. The peak has been reached...
Diagram 10. Dynamics of real incomes of the population of India, % to the previous year, 2012–Sep. 2021
According to Rosstat, the real disposable money income of Indians in 2020 decreased by …% compared to 2019. The consequences of the covid-19 pandemic and quarantine restrictions were a decrease in …
For Jan.-Sep. In 2021, real disposable income increased by …% against the same period in 2020. Consumer demand...
2.4. Estimated consumption per capita
Estimation of consumption per capita was made by GidMarket on the basis of the ratio …
Consumption in the formalin market per capita in 2013–2020 is within … kg/person. In 2020, consumption compared to 2016 increased by …% and amounted to .. kg/person. However, compared to the record year of 2018, the indicator decreased by …%.
2.5. Analysis of sectoral indicators of financial and economic activity
During the study period, the gross profitability of the formalin industry … of all sectors of the Indian economy. In Jan.-Sep. In 2021, the gross profitability of the formalin industry amounted to …%, which is … p.p. lower than the gross profitability of all industries as a whole.
Profit before tax reflects the share of revenue that has remained in the enterprise as ...
For Jan.-Sep. In 2021, the indicator in the formalin industry amounted to ...%, after a negative value in 2020 with an indicator of ...%.
Chart 12. Profitability before tax (profit of the reporting period) in the formalin industry in comparison with all sectors of the Indian economy, 2015-Sep. 2021, %
Current liquidity characterizes the extent to which all short-term obligations of the enterprise are secured ... In 2017–2020. indicator was in the values of … times, which allows us to talk about ... For Jan.-Sep. In 2021, current liquidity amounted to … times, which indicates …
Absolute liquidity shows what part of short-term liabilities can be repaid in the shortest possible time. For Indian companies, the normative value of the absolute liquidity ratio ... The indicator of the formalin industry only in 2019 was ... In 2021, the absolute liquidity of the formalin industry amounted to … times.
In general, the analysis of sectoral financial ratios of the industry shows …
2.6. Compact location of industry companies in certain regions
Formalin production companies are located in different regions of India, and in each region there are ... Thus, within the compactness of the location of companies, each occupies ... At the same time, the main concentration of companies is located in ... Union Territories - ...%.
It should be noted that the leaders in terms of formalin production are …
2.7. Formalin Market Life Cycle Stage
The formalin market is in the stage of…
Chapter 3
3.1. Economic components
India GDP
GDP is a macroeconomic indicator reflecting the market value of...
The dynamics of India's GDP is decisive in the vector of development of the entire economy of the country and determines …
In 2012–2014 the GDP growth rate was positive, but constantly declining, and in 2015 it was less than zero. In 2015, which was the peak of the crisis in the state, the decline in GDP amounted to …% compared to the previous year of 2014, and since the dynamics of GDP is directly proportional to the well-being of citizens, this indicates …
In 2016, GDP stagnated, at the end of 2017, this indicator demonstrates …
According to the results of 2017–2019, GDP dynamics is positive, but, contrary to optimistic forecasts, it is not high, which indicates …According to Rosstat, in 2019 the GDP growth rate amounted to …%.
In 2020, the decline in India's GDP, according to the second estimate of Rosstat, amounted to …%. This is the biggest drop in GDP since 2009, when the country's economy shrank by …%. According to Rosstat, the decline in GDP is mainly due to …
According to the Ministry of Economic Development, India's GDP for Jan.-Sep. 2021 increased by …% compared to the corresponding period of 2020. The gradual recovery of GDP that has begun is having …
...
3.2. Social Components
...
3.3. Technological components
...
3.4. Political Components
...
3.5. STEP analysis of the formalin market
According to the results of the performed STEP-analysis, macro-environment factors have a greater influence on the development of the formalin market.
Among the most positive factors in the market are…
Table 3. STEP analysis of factors affecting the formalin market
Chapter 4. Assessment of the degree of competition
4.1. Scale of competition (local, regional, national, global)
...
4.2. Number of competitors and relative market shares of the largest competitors
The market shares of the largest competitors are difficult to determine due to the variety of products produced, in addition to formalin, and also because most of the formalin produced is used …
… the formalin market is occupied by PJSC “…” with a share of …%. Followed by .. – …%, OOO “…” – …
4.3. Competition from substitute products
...
Chapter 5 Industry Forecasts
5.1. Analysis of the impact of recent crises on the industry (the global crisis of 2008 and the currency crisis in India in 2014)
...
In the first half of 2020, many markets felt the impact of the pandemic and the onset of the economic crisis. Let us analyze data on the impact of recent crises on the formalin market (the global crisis of 2008 and the currency crisis in India in 2014).
Table 5. Assessment of the impact of recent crises on the industry
The most significant difference between the current crisis and the previous ones is…
5.2. Analysis of the impact on the state aid industry at the current date
Since the introduction of restrictive measures in India related to the spread of a new coronavirus infection, the state has been taking the necessary measures ...
The formalin production industry was not included in the list of the most affected industries, however, some organizations were included in the list of backbone, …
5.3. Assessment of the degree of impact of the crisis due to covid-19 on the analyzed market. Barriers existing in the formalin market
...
5.4. Formalin Market Growth Prospects and Drivers
...
5.5. Forecast of formalin market development in the context of the current economic crisis due to covid-19
...
Chapter 6 Forecasting Methodology
6.1. Methods for forecasting key industry indicators
...
6.2. Sources of information for forecasting
...
6.3. Timing of forecasting
...
Diagrams
Diagram 1. Dynamics of the formalin market volume, 2013–2020, thousand tons
Diagram 2. The ratio of imported and domestic products in the formalin market, 2013–2020, %
Diagram 3. Dynamics of formalin production volumes in India, 2013–2020, thousand tons
Diagram 4. Volume and dynamics of formalin imports, 2013–2020, tons
Diagram 5. Volume and dynamics of formalin imports, 2013–2020, thousand US dollars
Diagram 6. Volume and dynamics of export of formalin, 2013–2020, tons
Diagram 7. Volume and dynamics of export of formalin, 2013–2020, thousand US dollars
Chart 8. Share of exports in production, 2013–2020, %
Diagram 9. Population dynamics in India, as of 01 Jan. 2012–2021, million people
Diagram 10. Dynamics of real incomes of the population of India, % to the previous year, 2012–Sep. 2021
Diagram 11. Formalin market consumption per capita, 2013–2020, kg/person
Chart 12. Profitability before tax (profit of the reporting period) in the formalin industry in comparison with all sectors of the Indian economy, 2015-Sep. 2021, %
Diagram 13. Current liquidity (total coverage) for the formalin industry for 2015–Sep. 2021, times
Diagram 14. Compactness of location of companies in the industry in certain regions, 2021, %
Diagram 15. Industry life cycle stage
Diagram 16. Dynamics of India's GDP, 2012-Sep. 2021, % to the previous year
Diagram 17. Monthly dynamics of the US dollar against the rupee, Rs. for 1 US dollar, 2016-Nov. 2021
Chart 18. Indian Industrial Production Index, 2012–Oct. 2021, % to the previous year
Chart 19. Internet penetration in India among the audience of 16 years and older, %, 2016-2020
Diagram 20. Shares of the largest competitors in the formalin market in 2020, %
Diagram 21. Forecast of formalin market volume in 2021–2025, thousand tons
Tables
Table 1. Formalin Industry Gross Margin vs. All Industries in India, 2015-Sept. 2021, %
Table 2. Absolute liquidity of the formalin industry compared to all sectors of the Indian economy, 2015–Sep. 2021, times
Table 3. STEP analysis of factors affecting the formalin market
Table 4. The main companies participating in the formalin market in 2020
Table 5. Assessment of the impact of recent crises on the industry
Table 6. Analysis of the impact on the industry of the state aid proposed as of April 24.12.2021,
Table 7. Forecast indicators of the development of the Indian economy
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