Research report explores the Canoes Market: industry analysis by 2029

Paraformaldehyde OH(CH2O)nH is a white crystalline solid substance, it is formed by formaldehyde polymerization, it forms a white precipitate in the aqueous solution of formaldehyde. A small amount of methanol is often added as a stabilizer to limit the extent of polymerization. Polyoxymethylene is an alternate name of paraformaldehyde. Paraformaldehyde is not soluble in alcohol, ether and water but is soluble in alkali solutions. It has a similar odor to formaldehyde i.e. a pungent smell. It is available commercially on the basis of purity, higher the purity of paraformaldehyde the more expensive the paraldehyde is. Higher molecule homopolymer is strong, rigid along with good heat, solvent and moisture retention. Paraformaldehyde is used as disinfectant, fungicide, fixative and fumigant once it is depolymerized. It was also popularly used as a thermoplastic in the root canal treatment. In the recent times it is commercially used to synthesize pesticides such as glyphosate, acetochlor, and butachlor. It also finds application in the nutraceutical field to produce vitamin A along with its contribution in the paint & coating end used for synthesis of high grade automobile paint.

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Paraformaldehyde Market: Dynamics

Paraformaldehyde Market: Driver

Paraformaldehyde is extensively used in the synthesis of agrochemicals such as pesticides, fungicide and insecticide. The growing agricultural industry along with the limited presence of arable land is a major driver of the global paraformaldehyde market.

Increase in demand for better quality as well quantity owing to increase in population and preference is expected to increase the demand for agrochemicals which in turn is expected to drive the paraformaldehyde market extensively.

The global formaldehyde market is expected to be driven by the increase in demand for thermosetting resin such as phenol, urea, melamine, resorcinol and others. These resins find applications in multiple end use industry such as paper, paints & coating, wood, plastic among others.

Paraformaldehyde Market: Restraints

Paraformaldehyde powder is unsafe for human health and specifically to mucous membrane. It requires extra cautions while handling and contact with eyes, nose and skin should be avoided. The hazardous effects of paraformaldehyde on human health is a primary factor of sluggish market growth. Prolonged exposure is lethal and can cause cancer and nasal and ocular irritation.

Paraformaldehyde Market: Segmentation

Purity
>94%
Above 94%
Type
PF(91% - 93% )
PF(95% - 97% )
Application
Pesticide
Coating
Resin
Papermaking
Others
End Use
Petroleum Industry
Ink, Oil & Paints
Electrical Industry
Plastic Industry
Rubber Industry

Paraformaldehyde Market: Regional Outlook

Paraformaldehyde market is spread differently globally. The paraformaldehyde industry is at a technological advantage in countries such as Spain, U.S. and China. Moreover, manufacturers in Europe and North America have more mature equipment, robust research & development capabilities although the manufacturing cost is relatively higher in these region when compared to countries in Asia Pacific, such as China, Indonesia, and Malaysia.

Manufactures in North America and Europe are at a competitive disadvantage. Over time as technological advancements are achieved China is expected to improve on its share in the international market of paraformaldehyde and hence the competitiveness is likely to gradually intensify.

Countries such as Brazil, Argentina, Mexico, and Colombia are expected to be emerging market players in the region of Latin America owing to growing agricultural activities in the region. As the region is highly agricultural industry oriented, demand for agrochemicals is likely to increase over the coming years. Middle East & Africa is expected to project a steady growth rate owing to demand from GCC countries, Turkey, Egypt and other for paraformaldehyde in the coming years.

Paraformaldehyde Market: Key Players

Ercros, Celanese, CCP, Caldic, Shandong Tuobo, LCY Chemical, Yinhe Chemical, Nantong Jiangtian, Wanhua Chemical, LINYI TAIER, Shouguang Xudong, and Xiangrui Chemical among others.

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