Global Formaldehyde Market, By Derivative (Urea Formaldehyde (UF) Resins, Phenol Formaldehyde (PF) Resins, Polyoxymethylene/ Polyacetal (POM), Pentaerythritol, Methylene Diphenyl Diisocyanate (MDI), 1,4 Butanediol (1,4 BDO), Paraformaldehyde, Hexamine, Melamine Formaldehyde (MF) Resin, Others), Application (Resins, Textile, Plasticizers, Paints, Elastic Fibers, Synthetic Lubricants, Polyurethane Foams, Vulcanization Accelerators, Household/Electronic Appliances, Pesticides, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Formaldehyde Market
Formaldehyde market size is valued at USD 7.68 billion by 2028 and is expected to grow at a compound annual growth rate of 8.50% for the forecast period of 2021 to 2028. Data Bridge Market Research report on formaldehyde market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Formaldehyde is an essential feedstock component which is used for the production of urea-alkyd resins, and finds applications as binding materials for the middling density particle boards and plywood. Formaldehyde is usually synthesized from methanol which is mainly used in the synthesis of resins. Formaldehyde is extensively used in various industries such as plywood, construction, automobile and healthcare.
The high growth of its application in various industries such as automobile, construction and textile industry has highly influenced growth of the formaldehyde market. In line with this, the growing demand for paints and coatings and high demand for high quality plasticizers are also acting as a key determinant favoring the growth of the formaldehyde market over the forecast period of 2021 to 2028. Also the increasing construction spending and rapidly growing automotive industry are also positively impacting the growth of the formaldehyde market. The major factor accountable for the growth of the market is the rising demand for luxury furniture and increasing preference towards specialty fertilizers.
However, the strict government regulations, increasing concerns for safety and health regarding human life and easy availability of formaldehyde-free products may act as key restraint towards formaldehyde market growth rate in the forecast period of 2021 to 2028, whereas the fluctuations in the price of raw materials have the potential to challenge the growth of the formaldehyde market in the above mentioned forecast period.
Furthermore, the high growth of automotive and construction industries as well as the high feedstock requirements in manufacturing processes by major players will further offer a variety of growth opportunities for the formaldehyde market in the above mentioned forecast period.
This formaldehyde market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on formaldehyde market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Formaldehyde Market Scope and Market Size
Formaldehyde market is segmented on the basis of derivative and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of derivative, the formaldehyde market is segmented into urea formaldehyde (UF) resins, phenol formaldehyde (PF) resins, polyoxymethylene/ polyacetal (pom), pentaerythritol, methylene diphenyl diisocyanate (MDI), 1,4 butanediol (1,4 BDO), paraformaldehyde, hexamine, melamine formaldehyde (MF) resin and others.
- The application segment for formaldehyde market is segmented into resins, textile, plasticizers, paints, elastic fibers, synthetic lubricants, polyurethane foams, vulcanization accelerators, household/electronic appliances, pesticides and others.
Global Formaldehyde Market Country Level Analysis
Formaldehyde market is analyzed and market size, volume information is provided by country, derivative and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the formaldehyde market because of the continuous expansion of the automotive and building and construction sectors as well as the increasing population, growing middle class and rising disposable income of consumers within this particular region. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to high demand for automobiles across emerging economies within this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Formaldehyde Market Share Analysis
Formaldehyde market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to formaldehyde market.
The major players covered in the formaldehyde market report are Dynea AS, BASF SE, Huntsman International LLC, Balaji Formalin Private Limited, Bayer AG, Georgia-Pacific Chemicals, Perstorp, Chemique Adhesives & Sealants Ltd., Hexion, Celanese Corporation, Foremark Performance Chemicals, Ercros S.A., Chemanol, LyondellBasell Industries Holdings B.V., Alder SpA, 3M, Momentive, Johnson Matthey, DuPont and Merck KGaA, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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