Press release
Formaldehyde Market Growth By 2026 | Top Key Players- Dynea Oy, BASF SE, Huntsman Corporation, Balaji Formalin, Bayer AG, Georgia-Pacific Chemicals, Perstorp
Formaldehyde Market
Growing awareness among the manufacturers to adopt sustainable practices like the use of industrial by-products as raw materials, waste management, and energy has outlined global formaldehyde market share over the years. Consumers require high-quality raw materials to manufacture high-performance coatings to enhance resistance from external factors as well as improve the shelf life of the product.
Formaldehyde and its derivates play an important role in the manufacturing of several raw materials that are used for construction, agrochemicals, coatings, and plasticizer due to their cost-effectiveness and superior performance. Strict regulations established by the governments towards formaldehyde related emissions may slow down the market growth in the coming years.
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The chemical compound acts as a highly reactive organic compound that is used in several industrial applications. The product is known to cause irritation in the eyes and mucous membranes and the consumption of the product may lead to burning of the throat. In Europe, many rules such as the REACH regulation limits the use of formaldehyde and formaldehyde releasers that are known to hamper the industry expansion.
High demand for wooden furniture in North America
Regions like North America have showcased a considerable rise in the demand for wood furniture and have created the need for efficient adhesives that are used to produce plywood and wood panels. In the year 2018, revenue from office furniture market in the U.S. registered a revenue of more than USD 15 billion.
Key Point of TOC:
Chapter 8 Company Profiles
8.1 Dynea Oy
8.1.1 Business Overview
8.1.2 Financial Data
8.1.3 Product Landscape
8.1.4 Strategic outlook
8.1.5 SWOT Analysis
8.2 BASF SE
8.2.1 Business Overview
8.2.2 Financial Data
8.2.3 Product Landscape
8.2.4 SWOT Analysis
8.3 Huntsman Corporation
8.3.1 Business Overview
8.3.2 Financial Data
8.3.3 Product Landscape
8.3.4 SWOT Analysis
8.4 Balaji Formalin
8.4.1 Business Overview
8.4.2 Financial Data
Continue...
Manufacturers in the region have adopted low cost, superior performance, thermosetting adhesives that provide superior abrasion resistance. The U.S. based Georgia-Pacific Chemicals Inc.- a manufacturer of building products and related chemicals provide formaldehyde-based moisture-proof adhesives for wood that meet the government standards.
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Efforts undertaken by to improve the output
Global formaldehyde market is fairly consolidated with leading market players like BASF SE, Foremark Performance Chemicals, and various others. The industry players have extensively invested towards R&D to facilitate product innovations that provide durability and provide superior flexibility.
Formaldehyde market companies have worked towards expanding their manufacturing capabilities to increase their global presence as well as attract potential customers. In the year 2017, SK Capital Partners- a company that provides specialty materials, chemicals, and pharmaceuticals completed the acquisition of D.B. Western, Inc., a technology-driven producer of the chemical. The transaction aimed at strengthening the position of SK Capital and facilitate the development of new products and applications.
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