Paraformaldehyde Market Scope and Overview To Develop with Increased Global Emphasis on Industrialization 2030

Allied Market Research recently published a report titled, "Paraformaldehyde Market by Application (Resins, Agrochemicals, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." The global paraformaldehyde market was valued at $1.6 billion in 2020 and is projected to reach $2.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/14106

Key Drivers of Market Growth

The rising demand for paraformaldehyde in the production of disinfectants, fixatives, fumigants, and fungicides has driven the market's growth. However, concerns over the health risks associated with paraformaldehyde are limiting its expansion. Despite this, the growing focus on organic chemical synthesis, its applications in printing, photography, fertilizers, and fluorescent light products presents significant growth opportunities.

Application Insights

- Medical Segment: This segment is anticipated to exhibit the highest growth, with a projected CAGR of 6.2% during the forecast period. The increasing use of paraformaldehyde as a disinfectant in the medical and pharmaceutical sectors is a major growth driver.

- Agrochemicals Segment: The agrochemicals segment held the largest market share in 2020, accounting for more than 40%. The demand is driven by population growth and consumer preference for staple crops, which has increased the need for high-quality agricultural products.

Regional Analysis

- In 2020, the Asia-Pacific region, followed by North America, dominated the global paraformaldehyde market, accounting for nearly 60% of the total market share. The large share is primarily due to the high production capacity of paraformaldehyde in China. Meanwhile, the LAMEA (Latin America, Middle East, and Africa) region is expected to register the fastest growth, with a CAGR of 6.6%, driven by increased production in sectors such as laminates, pentaerythritol, MDI, and wood panels.

Leading Market Players

Key players in the paraformaldehyde market include:

- Alpha Chemika
- Merck
- Caldic
- Celanese
- Alfa Aesar
- Yinhe Chemical
- Ekta International
- Ercros
- Chemanol
- Jinan Xiangrui Chemical Co., Ltd.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/paraformaldehyde-market-A13737

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.