Formaldehyde Market Regional Analysis, Segmentations, and Key Applications Analysis, 2020

Felton, California, Sept. 03, 2020 – The global Formaldehyde Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development

Market Overview:

Formaldehyde is a major constituent for urea-alkyd resins production, having a wide range of end-users from industries including automobile, plywood, construction, buildings, furniture, paints & coatings, textiles, fertilizers & pesticides and packaging sectors. The global market is estimated to grow moderately over the forecast period. 

Key Players:

• BASF SE
• Huntsman Corporation
• Momentive Specialty Chemical
• Celanese Corporation
• Georgia-Pacific Corporation
• Perstorp Formox AB

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Growth Drivers:

Formaldehyde is anticipated to be emerging market owing to growing end use applications in various sector such as infrastructure and construction especially in developing nations. One of the major drivers for the market is usage of formaldehyde for fuel production, as it is a cheaper alternative to oil. The increasing demand for medium density fiberboards, laminates, particle boards, automotive parts are anticipated to drive the market.

Increased production of laminates and wood-based panels are increasing the demand of formaldehyde, thus, boosting the market over the forecast period.

However, growing concerns regarding health and safety of health and environment are anticipated to hamper the market.  Apart from monitoring health and safety, fluctuation in raw material prices are also expected to restrain the market.

Application Insights: 

• UF Resins
• PF Resins
• MF Resins
• Polyacetal Resins
• Pentaerythritol
• Methylenebis (4-phenyl isocyanate) (MDI)
• 1,4-butanediol 

Regional Insights: 

North American market has shown moderate growth in various segments. Asia-Pacific countries such as India, China, and Japan are expected to grow significantly owing to its rapidly developing plastic, automotive and constructional market. Other regions of Europe and Latin America also been anticipated to witness steady growth rate. China was the largest formaldehyde market globally.

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