Paraformaldehyde Market Share, Forecasts and Key Players are Alpha Chemika, Stormmax ASSP, GFS Chemicals, Oswal Udhyog, Parchem, Alfa Aesar

In terms of the applications, resins accounted for more than 45% revenue share of global paraformaldehyde market during 2016 and the segment is projected to witness notable growth in the future. Resins have gained significant traction across myriad industrial applications over the past several decades.

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Different types of resins including polyether, polycarbonates, polyurethanes, and amines are preferred in modern industrial applications as they exhibit superior stiffness, elasticity, and resistance to corrosion, chemicals, and high temperatures. They find extensive application in rubber, insulation, paper coating, automotive components, and electronics appliances. The expansion of automotive sector in the coming years is likely to fuel resins demand, which will positively influence paraformaldehyde market outlook.

Growing resin consumption in Asia Pacific
Asia Pacific accounted for more than half of global paraformaldehyde industry share in terms of revenue during 2016 and is expected to record substantial gains in the future. The regional product consumption can be associated with rapid growth and urbanization and industrial

In 2016, China had invested more than US$1.5 trillion, and India spent over US$400 billion in infrastructure development, which resulted in a significant consumption of resins. Meanwhile in European countries, constant efforts by automakers towards development of lightweight and energy-efficient models is likely to create a need for composite materials which are prominently used in majority of automotive parts and components.

Asia Chemical, GFS Chemicals, Inter Atlas Chemical, Thana Acid and Chemical Co, Ekta International, Alfa Aesar, Parchem, Nantong Jiangtian Chemical Co. Ltd., Changzhou Koye Chemical Co. Ltd., Caldic, and Alpha Chemika are some of the leading key players in paraformaldehyde market worldwide. These players are focusing on expansion of production capacities to keep up with the surging product demand.

Citing an instance, in October 2018, specialty chemicals manufacturer Celanese Corporation had launched a debottlenecking project at its Frankfurt, Germany-based paraformaldehyde facility to boost production and support the continued growth of its global chemicals and engineered materials business.

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