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Paraformaldehyde Market 2020-2024 | Alpha Chemika, Thana Acid and Chemical Co, Caldic, Pure Chemistry Scientific, Inc., Asia Chemical Company, Stormmax ASSP Ltd, Changzhou Koye Chemical Co. Ltd., Nantong Jiangtian Chemical Co. Ltd., Ekta International, In
Subject to the varied uses of paraformaldehyde across the cosmetic, agricultural, and pharmaceutical sectors, Paraformaldehyde Market will grow exponentially over the next few years. Additionally, this chemical is used in the manufacture of fertilizers, fluorescent lights, and cleaning products, and also in the photography & printing sector, which will suitably impel the business expansion.
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Top Companies
1. Alpha Chemika
2. Thana Acid and Chemical Co
3. Caldic
4. Pure Chemistry Scientific
5. Asia Chemical Company
6. Stormmax ASSP Ltd.
7. Changzhou Koye Chemical Co. Ltd.
8. Nantong Jiangtian Chemical Co. Ltd.
9. Ekta International
10. Inter Atlas Chemical
11. GFS Chemicals
12. Oswal Udhyog
13. Parchem
14. Alfa Aesar
Growth Drivers
o Increasing agricultural market
o Growing construction sector
o Flourishing automobile industry
The automotive sector is on the verge of consistent expansion across the continent of Europe. Paraformaldehyde based resins are prominently used in vehicle manufacturing for the various components such as molding, bearing, and adhesives, subject to which paraformaldehyde market in Europe will rise considerably. Resins accounted for more than 40% of revenue share in application segment of paraformaldehyde market in 2015 and will record a CAGR of about 5% over the coming years of 2016 to 2024. Owing to the properties such as corrosion and chemical resistance, the product is extensively across the aerospace, automotive, rubber, paper, and paints & coatings sectors.
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Asia Pacific constituted for more than half of the total paraformaldehyde market share in 2016. This is primarily attributed to rapid industrialization and urbanization which has resulted in strong growth in the construction sector. For instance, China spend over 1.5 trillion and India contributed over USD 400 billion in 2016 which has resulted in growing resin consumption in the region which will drive paraformaldehyde market by 2024. Presence of key automobile players in the Europe will lead to increasing paraformaldehyde application as resin in manufacturing variety of auto parts which will subsequently boost paraformaldehyde market in the region by 2024.
The noteworthy players in paraformaldehyde market are Zibo Qingxin Chemicals Factory, Pure Chemistry Scientific, Inc., Tianjin Yuanlong Chemical Industry Co, Ltd., Asia Chemical Corporation, Oswal Udhyog, Linyi Ruifeng Machinery Co., Ltd, Stormmax ASSP Ltd., Changzhou Koye Chemical Co Ltd., Caldic, Interatlas Chemical Inc., Nantong Jiangtian Chemical Co Ltd., Ekta International, GFS Chemicals, Jinan Xiangrui Chemical Co., Ltd., Alfa Aesar, Hebei Yuhang Chemical Industry Co, Ltd., and Alpha Chemika.
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