Formaldehyde Market Forecasts to 2028 – Global Analysis By Derivative (Phenol Formaldehyde Resin, Urea Formaldehyde Resin), Application (Paints & Coatings, Resins, Fibers, Synthetic Lubricants), and By Geography
According to Stratistics MRC, the Global Formaldehyde Market is accounted for $9.35 billion in 2020 and is expected to reach $13.82 billion by 2028 growing at a CAGR of 5.0% during the forecast period. Factors such as increasing demand for paints & coatings, growing automotive industry, and increasing urbanization around the world are driving the growth of the market. However, toxic and carcinogenic nature of formaldehyde is hampering the growth of the market.
Formaldehyde is used as a precursor to formulate chemical compounds and important industrial materials. It is available naturally and is a major source of organic compounds. Synthesized formaldehyde has several medical uses owing to which it has high demand for various applications.
Based on the end user, the building & construction segment is anticipated to expand at a rapid pace during the forecast period due to the large scale consumption of formaldehyde for construction and remodeling activity. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the increasing government investments on infrastructural expansion.
Some of the key players profiled in the Formaldehyde Market include BASF SE, Celanese Corporation, Acron Group, Alder SpA, Johnson Matthey, Hexion, Huntsman International LLC, Foremark Performance Chemicals, Georgia-Pacific Chemicals, and Metafrax.
• Phenol Formaldehyde Resin
• Urea Formaldehyde Resin
• 1,4 Butanediol
• Melamine Formaldehyde Resin
• Methylene Diphenyl Diisocyanate
• Hexamethylenetetramine (Hexamine)
• Paints & Coatings
• Synthetic Lubricants
• Polyurethane Foams
• Drying Agents
• Vulcanization Accelerators
End Users Covered:
• Building & Construction
• Personal Care & Cosmetics
• Chemical and Petrochemical
• Water Treatment
• Oil & Gas
• Electronic Appliances
• Consumer Goods
• Cleaning Products
• Heating, Ventilation, & Air Conditioning (HVAC)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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