Global Formaldehyde Market: Sustained Growth with a Projected Value of $32.78 Billion by 2029

A Look into the Strong Momentum and Key Players Propelling the Global Formaldehyde Market

What Is The Projected Market Size Of The Global Formaldehyde Market And Its Growth Rate?
The formaldehyde market has been experiencing consistent growth:
• The market size grew from $22.55 billion in 2024 to $24.13 billion in 2025, revealing a CAGR of 7.0%.
• This impressive growth can be mainly attributed to the expansion of the construction and building industry, automotive manufacturing, rising demand in the furniture manufacturing sector, and significant growth in the textile and leather industries.
• Furthermore, its utilization in agrochemicals and fertilizers has also driven market growth.
• Looking ahead, the formaldehyde market is poised for further strong growth, projected to reach $32.78 billion in 2029 at a CAGR of 8.0%.
• Key factors contributing to the predicted growth include sustainable, eco-friendly formaldehyde alternatives, an increased focus on green building materials, stringent regulations, emission standards, growing demand in healthcare and biomedical research, and the emergence of innovative industrial applications.

What Is Driving The Growth In The Formaldehyde Market?
The formaldehyde market is witnessing significant growth, largely due to the growing demand from the construction industry. The manufacturing of glues, resins, and other construction materials heavily involves formaldehyde. For instance, Oxford Economics, in their report Global Construction 2030, predicted that the volume of construction output is set to grow by 85% by 2030. Therefore, the rising demand from the construction sector is a major propellant for the formaldehyde market's growth.

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Who Are the Key Players Driving Formaldehyde Market Growth?
Major companies in the formaldehyde market include:
• BASF SE
• Johnson Matthey Process Technologies
• AkzoNobel NV
• Celanese Corporation
• Georgia-Pacific Chemicals LLC
• Huntsman International LLC
• Hexion Inc.
• Allnex GMBH
• Perstorp Holding AB
• Acron Group
• Arclin Inc.
• Atul Ltd.
• Momentive Specialty Chemical Inc.
• Prefere Resins Holding GmbH
• Sprea Misr
• Cornerstone Chemical
• Metafrax
• Pörner Ingenieurgesellschaft mbH
• Metadynea Metafrax Group
• Kanoria Chemicals & Industries Ltd.
• Dynea Oy
• Foremark Performance Chemicals
• Pacific Texchem Private Limited
• Frati Luigi S.p.A
• Balaji Formalin Private Limited
• Alder S.p.A
• Simalin Chemicals Industries Limited

What Are The Key Trends In The Formaldehyde Market?
Key trends in the formaldehyde market include:
• Advancements in resin technology
• Expansion in furniture manufacturing
• Stringent emission standards and regulations
• Increasing adoption in the automotive sector
• Rising popularity of formaldehyde-free alternatives

What Are The Segments Of The Global Formaldehyde Market?
The formaldehyde market is classified by:
• Type: Urea Formaldehyde, Phenol Formaldehyde, Melamine Formaldehyde, Polyoxymethylene, Other types.
• Application: Resins, Fibers, Solvents, Plasticizers, Drying Agents, Other Chemical Intermediates.
• End-User: Construction, Furniture, Automotive, Healthcare, Other End-Users.

Which Region Leads The Formaldehyde Market?
In 2024, Asia-Pacific was the largest and fastest-growing region in the formaldehyde market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Formaldehyde Market Global Market Report?
- Market Size Analysis: Analyze the Formaldehyde Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Formaldehyde Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Formaldehyde Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Formaldehyde Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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