openPR Logo
Press release

Formaldehyde Market is anticipated to expand at a CAGR of ~3% from 2019 to 2027

Formaldehyde Market is anticipated to expand at a CAGR of ~3% from

Formaldehyde Market: Introduction

The Formaldehyde Market Share was valued at ~US$ 8.6 Bn in 2018 and is anticipated to expand at a CAGR of ~3% from 2019 to 2027. Use of formaldehyde in the production of resins is growing; these formaldehyde based resins find applications in a wide range of activities.

Read report Overview-

https://www.transparencymarketresearch.com/formaldehyde-market.html

Key Drivers of Formaldehyde Market

Formaldehyde-based resins, such as urea formaldehyde resins, are excellent adhesives that play an integral role in the construction sector. They are used in furniture applications in the production of particle boards and wood panels. Formaldehyde-based resins help bind wood chips and sawdust to create engineered wood products, which are durable, cost-effective, and high performance alternatives to solid wood.

Therefore, increasing demand from construction and furniture sectors is expected to boost the demand for formaldehyde. Formaldehyde is also used as an intermediate to produce other chemicals, such as butanediol, which is further employed to produce tetrahydrofuran. Tetrahydrofuran is used as a solvent for vinyl resins. Rising use of formaldehyde as a chemical intermediate is expected to further boost the demand during the forecast period.

Increasing Demand from End-use Industries to Offer Attractive Opportunities

Rise in urbanization, increase in population, and positive developments in regional economic conditions are projected to drive the demand for houses in the near future. This is expected to boost the demand for wood-based panels. These factors are anticipated to augment the demand for formaldehyde, as formaldehyde-based resins are used to produce wood-based panels. Moreover, rising demand for formaldehyde in automotive, chemical, and personal care & cosmetic sectors due to its excellent adhesive and binding properties is projected to drive the market during the forecast period.

Request PDF Brochure -

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1367

Stringent Regulatory Norms to Hamper Market

Various countries across the globe have imposed stringent regulatory norms to check formaldehyde emissions from a vast range of products. Formaldehyde is produced on a large scale across the globe; however, concerns over the adverse effects of the product on human health has prompted regulatory bodies to impose restrictions on its usage. Furthermore, fluctuation in raw material pricing, mainly methanol, is anticipated to impact the market. The market is vulnerable to changes in methanol production. Methanol is produced from synthesis gas (carbon monoxide and hydrogen), which is derived from oil, coal, or biomass. This in turn is expected to hamper the growth of the market in the coming years.

Asia Pacific Dominates the Formaldehyde Market

Asia Pacific is expected to be a highly attractive region of the market during the forecast period. With its rapidly growing population, Asia Pacific is expected to contribute significantly to the global building & construction industry, in terms of value sales growth, thereby propelling the formaldehyde market. Formaldehyde is used in construction of wood-based panels and in manufacturing of furniture. Europe and North America cumulatively held a market share of ~34% of the market in 2018. The two regions are expected to lose market share by 0.4% and 0.2%, respectively, by the end of the forecast period. The decline in the market share can be attributed to increase in the number of regulations on usage of formaldehyde in these regions.

REQUEST FOR COVID19 IMPACT ANALYSIS -

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1367

Use of Formaldehyde to Produce Resins to Drive Market

The resin segment held a major share of the formaldehyde market in 2018. Formaldehyde-based resins are employed in the textile industry to help bind dyes and pigments to fabrics. Formaldehyde is used in the production of UF and PF resins. These resins are widely used in furniture and construction sectors, due to their adhesive strength and moisture resistance.

Prominent Companies in Global Market

Prominent players operating in the formaldehyde market are BASF SE, Hexion Inc., PJSC Metafrax, and Ercros S.A. In May 2017, Hexion Inc. launched a new product called EcoBind ONE, a formaldehyde scavenger product, to free formaldehyde and eliminate the emission of formaldehyde during the manufacture of panel boards. Ercros S.A's production capacity for formaldehyde and paraformaldehyde is 700-kilo tons and 115 kilotons, respectively. BASF SE's production capacity for formaldehyde is 750-kilo tons per annum.

Explore Transparency Market Research's award-winning coverage of the global (Chemicals and Materials) Industry

https://www.globenewswire.com/news-release/2019/08/20/1904064/0/en/Ethylene-Propylene-Diene-Monomer-EPDM-Market-to-Witness-Strong-CAGR-of-6-Market-to-Reach-US-6-2-Bn-in-Valuation-by-2027-TMR.html

Contact

Transparency Market Research,

90 Sate Street, Suite 700,

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Formaldehyde Market is anticipated to expand at a CAGR of ~3% from 2019 to 2027 here

News-ID: 2041471 • Views:

More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 - Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth. Uncover essential discoveries and trends from
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth. Discover essential conclusions and data from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100 Analysts' Viewpoint The Technetium‐99m
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to US$ 280 Million by 2030, Driven by Rising Equine Diseases and Diagnostic Advancements
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of 6.1%
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,

All 5 Releases


More Releases for Formaldehyde

Urea Formaldehyde Glue Powder, Ready For Shipment
Urea Formaldehyde Glue Powder 25KG Bag, 28Tons/40'FCL Without Pallets 2 FCL, Destination: Middle East Ready For Shipment~ Image: https://www.aojinchem.com/uploads/9111.jpg Image: https://www.aojinchem.com/uploads/961.jpg Image: https://www.aojinchem.com/uploads/9210.jpg Image: https://www.aojinchem.com/uploads/9310.jpg Applications: 1. Wooden furniture manufacturing: Urea-formaldehyde resin powder can be used to bond wood, plywood, wooden flooring and other wooden furniture. It has high bonding strength and heat resistance, and can provide a long-lasting bonding effect. 2. Papermaking industry: Urea-formaldehyde resin powder can be used as a reinforcing agent for
Melamine Formaldehyde Market Research Report | Valuates Reports
Melamine Formaldehyde Market Research Report | Valuates Reports The global Melamine Formaldehyde market size is expected to reach US$ 9666.3 million by 2029, growing at a CAGR of 5.5% from 2023 to 2029. View Sample Report https://reports.valuates.com/request/sample/QYRE-Auto-14U7166/Global_Melamine_Formaldehyde_Market_Insights_and_Forecast_to_2028 Report Scope This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1)
Formaldehyde Market Size, CAGR | Growth - 2032
The Global Formaldehyde Market Size was valued at USD 7.8 Billion in 2022 and is anticipated to reach USD 13.5 Billion by 2032 with a CAGR of 5.6% from 2023 to 2032. Formaldehyde, a versatile chemical compound, serves as a foundational building block across numerous industries, ranging from manufacturing to healthcare. As a crucial precursor in the production of various materials and products, the Formaldehyde Market plays an indispensable role in
Formaldehyde Market Challenges, Growth and Opportunities - 2031
Formaldehyde Market: Introduction In terms of value, the global formaldehyde market is anticipated to expand at a CAGR of ~4% from 2021 to 2031 and cross US$ 15 Bn by 2031. The usage of formaldehyde in the production of resins has been rising. Formaldehyde-based resins are used in a wide range of applications. In terms of volume, Asia Pacific dominated the global formaldehyde market in 2020. It is estimated to lead
Formaldehyde Market Industry Analysis - Formaldehyde Market Size Driven by Recen …
The most recent study offered by Acumen Research and Consulting focuses Formaldehyde Market size, share, growth rate, and market trends, as well as the parameters and factors influencing it in both the long term and short term. The report investigates the Formaldehyde Market trends in order to assess its current and future potential. Our Formaldehyde Market analysis also provides market participants and new entrants with a comprehensive view of the
Formaldehyde Solution Global Market Research Report 2018
GET SAMPLE REPORT @ https://www.research2reports.com/sample-report-chemical/formaldehyde-solution-market/79772 Formaldehyde Solution Report by Material, Application, and Geography � Global Forecast to 2022 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China). The report firstly introduced the Formaldehyde Solution basics: definitions, classifications, applications and market overview; product specifications;