Press release
Global Formaldehyde Market Size,Growth Rate,Industry Opportunities 2023-2032| Celanese Corporation, Perstorp Holding AB, BASF SE, Alder S.p.A, Dynea AS
Formaldehyde Market Outlook
The Business Research Company's Formaldehyde Global Market Report 2023 identifies Growing demand from the construction industry as the major driver for the formaldehyde market's growth in the forecast period. Construction refers to the process of building, altering, repairing, remodeling, improving, or demolishing any structures. Formaldehyde helps the construction industry in the manufacturing of glues, resins, and other construction materials.
The global formaldehyde market size grew from $19.66 billion in 2022 to $21 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The formaldehyde market size is expected to grow to $26.74 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the formaldehyde market are Celanese Corporation, Perstorp Holding AB, BASF SE, Alder S.p.A, Dynea AS, Hexion Inc., Foremark Performance Chemicals, Johnson Matthey, Balaji Formalin Private Limited, Ercros, Capital Resin Corporation, LyondellBasell Industries, Momentive Specialty Chemical Inc and LRBG Chemicals Inc.
A key trend in the formaldehyde market includes Advancements in paint technology. Major companies operating in the formaldehyde market are coming up with and using new paint technologies to sustain their position in the market. For instance, in February 2021, Teknos, a Finland-based paint, and coating solution provider operating in the formaldehyde market launched two indoor air purifying paints named BIORA AIR, and BIORA AIR CEILING, which uses the unique technology of aldehyde-binding, in which the paint absorbs and neutralizes aldehydes from indoor air.
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https://www.thebusinessresearchcompany.com/report/formaldehyde-global-market-report
The formaldehyde market is segmented -
• By Type: Urea Formaldehyde, Phenol Formaldehyde, Melamine Formaldehyde, Polyoxymethylene, Other Types
• By Application: Resins, Fibers, Solvents, Plasticizers, Drying Agents, Other Chemical Intermediates
• By End-User: Construction, Furniture, Automotive, Healthcare, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the formaldehyde market.
The Business Research Company's "Global Formaldehyde Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Formaldehyde Market Include:
1. Executive Summary
2. Formaldehyde Market Characteristics
3. Formaldehyde Market Trends And Strategies
4. Formaldehyde Market - Macro Economic Scenario
5. Formaldehyde Market Size And Growth
………………….
26. Africa Formaldehyde Market
27. Formaldehyde Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Formaldehyde Market
29. Formaldehyde Market Future Outlook and Potential Analysis
30. Appendix
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