PDF-Paraformaldehyde Market

Paraformaldehyde Market, Industry Analytics
Competitive Market Share & Forecast, 2016 – 2024:
Global Market Insights, Inc.
Paraformaldehyde Market size is set to cross USD 800 million by 2024 according to a
new research report by Global Market Insights, Inc.
Paraformaldehyde market will grow at a moderate rate due to increasing consumption
in thermosetting composites. These composites are widely used in marine, electronics,
aerospace, automotive and construction industries. Paraformaldehyde in marine
industry will grow owing to increased demand for sail boats, power boats, cruise ships
and speed boats. Marine composites market is forecast to register reasonably high
growth between 2017 and 2024.
Increasing usage of the product as a fumigant, fungicide, and fixative will boost
product growth. Fumigant and fungicide consumption is substantially increasing in
agriculture sector due to the need for better yield and quality of crops. Growing
popularity of product-based fixatives in homecare, haircare and cosmetics are uplifting
its demand. Paraformaldehyde is used in various fields such as cleaning products,
fluorescent lights, organic chemical synthesis, personal care products, and consumer
goods, this offers a healthy growth for its market.
Paraformaldehyde is commonly used in the pharmaceutical industry as a general and
specialty disinfectant. The global pharmaceutical industry size is growing annually at
over 4% and is likely to cross USD 1.5 trillion by 2024. Product application base in this
industry is likely to grow with growing number of healthcare programs and hospitals
across all regions.
Paraformaldehyde must comply with the regulations of “Occupational Safety and
Health Administration (OSHA)” to minimize its harmful effects on the human health.
Prolonged exposure to it leads to nasal or ocular irritation. These factors will inhibit
the growth of its market. Overcoming these challenges is one of the long-term
objectives of research and development in the market. Many key companies have
invested heavily into research programs to boost paraformaldehyde product quality
and potential applications
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U.S. Paraformaldehyde Market Size, By Application, 2013-2024 (USD Million)
To browse this report titled, “Construction Chemicals Market Size by Product, By
Application, Industry Analysis Report, Regional Outlook, Application Potential,
Price Trend, Competitive Market Share & Forecast, 2016 – 2024” please click on the
link below:
https://www.gminsights.com/industry-analysis/paraformaldehyde-market
Agrochemical applications account for over 40% share in the application industry.
Rising need for yield-enhancing agrochemical coupled with concerns over food
security to feed the soaring population will support paraformaldehyde market growth.
This application will register a CAGR of above 6% by 2024.
Paraformaldehyde resins application will exhibit a CAGR of nearly 5% till 2024 in the
market. The compound is used to manufacture different resin forms such as polyester,
polyamides, alkyds, amines, polyurethanes, aromatic polyamides, polycarbonates,
and phenols. Favorable properties of these resins make them suitable for automotive,
aerospace, paints & coatings, rubber, adhesives, electrical; & electronics, and paper
industries.
Fungicide and fumigant products of the market will witness a substantial growth up till
2024. Shift in farming practices, mounting post-harvest crop losses, storage
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technologies in warehouses are some of the key factors propelling the growth of these
products.
Asia Pacific contributed to over 50% of the paraformaldehyde market revenue in 2024.
For example, India is known as primarily an agricultural economy where minimizing
crop losses and achieving food crops self-sufficiency, will pave the way for
paraformaldehyde usage in future with increased agrochemical consumption.
Construction projects across the developing economies of the region are gaining
momentum and will uplift the demand for resins. Automotive sector is also registering
a decent growth rate in ASEAN economies as OEM’s are setting up manufacturing
plants and expanding existing production capacities to cater to the increasing demand
from the region. This will in turn increase resin consumption in the region.
Germany accounts for more than 15% share in its European market. Spearheading
developments in, electronics, automotive, aerospace and other engineering
companies in the country makes it a substantial contributor of its region.
U.S. is an international hub for the pharmaceutical industry from past few decades.
Paraformaldehyde consumption in the medical sector as a fixative and disinfectant will
grow its market. Technological advancements in medical sector have given a boost to
its industry.
Prominent manufacturers in paraformaldehyde market are Parchem, Inter Atlas
Chemical, GFS Chemicals, Alfa Aesar, Shanghai Orgpharma Chemical Co., Ltd., Ekta
International, Thana Acid, Oswal Udhyog, Asia Chemical Company, Caldic, and
Nantong Jiangtian Chemical Co., Ltd.
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