Global Formaldehyde Market – Industry Analysis and Forecast (2020-2027) – By Derivatives, Application, End User and Region.

Global Formaldehyde Market was valued US$ 24.59 Bn in 2019 and is expected to reach US$ 36.61 Bn by 2027, at a CAGR of 5.1 % during a forecast period 2020-2027.

Global Formaldehyde Market was valued US$ 24.59 Bn in 2019 and is expected to reach US$ 36.61 Bn by 2027, at a CAGR of 5.1 % during a forecast period 2020-2027.

Formaldehyde is produced from methanol, which is the primary raw material. However, the fluctuating prices of methanol pose difficulty for the manufacturers of both methanol and formaldehyde. With the increasing demand for formaldehyde, it is important to develop new production technologies for formaldehyde, which do not use methanol. Formaldehyde is an organic compound with the molecular formula HCHO. It is highly reactive and gets polymerized easily; hence, it is Solventsly available in the form of an aqueous solution called formalin, which contains 37-55 wt% formaldehyde along with 7-25 wt% methanol.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Formaldehyde is mainly used in the production of resins, which find use in the construction industry. Resins like urea formaldehyde, phenol formaldehyde, and melamine formaldehyde are used for manufacturing building materials. The construction industry is the major end-user of formaldehyde globally, with a share of more than 65%. Hence, the growth of the construction industry, which is driven by the emerging economies, growing population, and increasing disposable income, largely drives the global formaldehyde market.

The global consumption of formaldehyde is increasing as it is being used on a large scale for construction and remodeling activity and furniture production. Due to the excellent thermal and chemical resistance, formaldehyde-based resins are being used in manufacturing airplane and automobile parts. Formaldehyde is also being used in manufacturing anti-infective drugs, hard-gel capsules, and vaccines. Some of the prominent trends that the market is witnessing include increasing demand for pharmaceutical and cosmetics industry, high investment in R&D.

Based on application, the resins segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. Formaldehyde is used on a large scale in the production amino resins such as melamine-formaldehyde resin, urea-formaldehyde resin and urea-melamine formaldehyde resin. These resins are being used on a large scale in furniture and construction industries owing to its resistance to moisture and incredible adhesive strength.

In terms of end-user, the construction segment accounts for highest share in terms of revenue in the global market. Formaldehyde-based resins are used on a large scale to produce wood products that are used in cabinetry, shelving, flooring, etc. these resins also provide better bonding strength in lesser quantity.

Asia Pacific Excluding Japan (APEJ) is expected to dominate the global formaldehyde market. Emerging economies such as China and India are witnessing a rapid increase in the demand for formaldehyde for use in various industries. There has been an increase in the use of formaldehyde for producing fuel. Countries seeking a cheaper substitute for oil are driving the demand for formaldehyde. Meanwhile, demand for formaldehyde is also expected to increase in the U.S. Increasing production of laminates, panels, and pentaerythritol in Central Europe, South America, and the Middle East is also expected to drive the market for formaldehyde.

The report covers a global and regional level estimation and analysis for the formaldehyde market. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. The formaldehyde market report covers an in-depth study of global and regional market and market attractiveness analysis, wherein the application, Components, and regional segments are benchmarked based on their growth rate, general attractiveness, and market size.

Key players operating in the global formaldehyde market are Johnson Matthey Process Technologies, Foremark Performance Chemicals, Huntsman International LLC, Momentive Specialty Chemical Inc., Dynea AS, Alder S.p.A, Georgia-Pacific Chemicals LLC, Perstorp Orgnr, Celanese AG, and BASF SE.
Scope of Global Formaldehyde Market:

Global Formaldehyde Market, by Derivatives:

• Urea Formaldehyde Resins & Concentrates
• Phenol Formaldehyde Resins
• Polyoxymethylene/ Polyacetal
• Pentaerythritol
• Methylene Diphenyl Diisocyanate
• 1,4 Butanediol
• Paraformaldehyde
• Hexamine
• Melamine Formaldehyde Resin
• Other Derivatives
Global Formaldehyde Market, by Application:

• Fibers
• Solvents
• Plasticizers
• Drying Agents
• Resins
• Other Chemical Intermediaries
Global Formaldehyde Market, by End-User:

• Consumer Goods
• Automotive
• Healthcare
• Construction
• Others
Global Formaldehyde Market, by Region:

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key Players Operating In Global Formaldehyde Market:

• Johnson Matthey Process Technologies
• Foremark Performance Chemicals
• Huntsman International LLC
• Momentive Specialty Chemical Inc.
• Dynea AS
• Alder S.p.A
• Georgia-Pacific Chemicals LLC
• Perstorp Orgnr
• Celanese AG

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