Paraformaldehyde Market
Global paraformaldehyde market was valued at US$ 468.8 Mn in 2014 and is likely to reach US$ 791.9 Mn in 2023, expanding at a CAGR of 6.1% 2023
Global paraformaldehyde market was valued at US$ 468.8 Mn in 2014 and is likely to reach US$ 791.9 Mn in 2023, expanding at a CAGR of 6.1% 2023
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Transparency <strong>Market</strong><br />
Research<br />
<strong>Paraformaldehyde</strong> <strong>Market</strong> for Resins, Agrochemicals, Medical, and Other<br />
Applications - Global Industry Analysis, Size, Share, Growth, Trends and<br />
Forecast 2015 - 2023<br />
Published Date<br />
28-July-2015<br />
110 Page Report<br />
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Press Release<br />
<strong>Paraformaldehyde</strong> <strong>Market</strong> expected to reach US$ 791.9 Mn in 2023<br />
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<strong>Paraformaldehyde</strong> <strong>Market</strong><br />
REPORT DESCRIPTION<br />
<strong>Paraformaldehyde</strong> <strong>Market</strong> for Resins, Agrochemicals, Medical, and Other Applications - Global Industry Analysis, Size,<br />
Share, Growth, Trends and Forecast 2015 - 2023<br />
Global <strong>Paraformaldehyde</strong> <strong>Market</strong>: Snapshot<br />
In the last few years, the use of paraformaldehyde has increased significantly owing to the rising number of applications.<br />
The growing demand from agrochemical and resins manufacturers is expected to encourage the growth of the global<br />
paraformaldehyde market in the coming years. Some of the key applications of paraformaldehyde are medical<br />
appliances, agrochemicals, resins, lubricant additives, papermaking, and others. The key players in the market are<br />
emphasizing on increasing the number of applications is estimated to supplement the growth of the market in the<br />
coming years.<br />
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According to the research study, the global market for paraformaldehyde is anticipated to reach a value of US$791.9 mn<br />
by the end of 2023. The market is likely to register a healthy 6.0% CAGR between 2015 and 2023.<br />
Application of paraformaldehyde as Lubricant Additives to Encourage Growth<br />
The rising rate of adoption of GM crops has resulted in a high demand for glyphosate, which is the key factor estimated<br />
to encourage the growth of the global paraformaldehyde market in the coming years. In addition, the growing demand<br />
for resins is predicted to accelerate the overall development of the market in the near future. The rising focus on the<br />
development of new products and technological advancements are estimated to supplement the market’s growth.<br />
On the flip side, several concerns related to the sanctions and restrictions against glyphosate are anticipated to restrict<br />
the growth of the global paraformaldehyde market in the forecast period. Nevertheless, the application of<br />
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<strong>Paraformaldehyde</strong> <strong>Market</strong><br />
paraformaldehyde as drilling fluids and as a lubricant additive is expected to generate promising opportunities for key<br />
players operating in the global market in the next few years.<br />
Rising Contribution from China to Bolster Asia Pacific <strong>Paraformaldehyde</strong> <strong>Market</strong><br />
In the last few years, the Asia Pacific segment held a large share of the global paraformaldehyde market and is likely to<br />
remain in the topmost position in the next few years. The tremendous contribution from China is estimated to accelerate<br />
the growth of this region and is considered as one of the largest manufacturers across the globe. The expansion of the<br />
application base of paraformaldehyde is expected to supplement the growth of this segment in the coming years.<br />
Furthermore, North America and Europe are anticipated to follow Asia Pacific throughout the forecast period. The rising<br />
demand from diverse industries and the increasing focus on technological developments are anticipated to encourage<br />
the growth of the Asia Pacific market for paraformaldehyde in the next few years. Furthermore, Latin America and the<br />
Middle East and Africa are likely to witness a healthy growth in the next few years.<br />
Growing Demand from Diverse Industries to Encourage Growth<br />
The growing demand for paraformaldehyde has attracted several new players to enter the market in order to expand<br />
their product horizon and attain a leading position in the market. The rising level of competition is projected to result in<br />
introduction of new products and the creating an awareness among consumers regarding the use of paraformaldehyde<br />
across diverse industries. In addition, the rising number of mergers and acquisitions is another major factor anticipated<br />
to contribute significantly towards the growth of the global market throughout the forecast period.<br />
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Some of the key players operating in the paraformaldehyde market across the globe are Nantong Jiangtian Chemical Co.,<br />
Ltd., Celanese Corporation, Shouguang Xudong Chemical Co., Ltd., Feno Resinas S.A. de C.V., INEOS Group Limited, and<br />
LCY Chemical Corp. The presence of a large number of players is expected to enhance the competitive scenario of the<br />
overall market throughout the forecast period.<br />
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<strong>Paraformaldehyde</strong> <strong>Market</strong><br />
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