Press release
Paraformaldehyde Market Top Key Industry Players: Parchem, Inter Atlas Chemical, GFS Chemicals, Alfa Aesar, Ltd., Ekta International, Thana Acid, Oswal Udhyog, Caldic
Global Market Insights, Inc.
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Paraformaldehyde market from agrochemicals applications will record a CAGR of 6.5% over the coming years of 2016 to 2024. The growth can be attributed to increasing usage of the agrochemicals such as pesticides, herbicides, bactericides, and fungicides to improve crop yield. In addition, the agricultural sector has been witnessing a plethora of technological advancements, which will further influence paraformaldehyde industry share across various geographies. North America paraformaldehyde market collected a revenue of USD 85.4 million in 2015 and will register a noticeable growth rate over the coming timeframe. This product is extensively used to manufacture various agrochemicals, which are in high demand across the U.S. Furthermore, surging infrastructural development activities across the region will also impel paraformaldehyde market trends.
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.
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Partial Chapter of the Table of Content
Chapter 3. Paraformaldehyde Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor matrix
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing agricultural market
3.4.1.2. Growing construction sector
3.4.1.3. Flourishing automobile industry
3.4.2. Industry pitfalls & challenges
3.4.2.1. Stringent government regulations
3.4.2.2. Human health hazards and safety issues
3.5. Growth potential analysis, 2015
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Company market share analysis, 2015
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends
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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.
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.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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