Press release
Paraformaldehyde Market Size is Projected to Reach US$ 2.09 Billion by 2035 With a CAGR of 4.9% | Fact.MR
Paraformaldehyde Market
In 2024, the industry witnessed trends in large end-use industries, particularly in reference to agriculture and health. Demand for products grew in the agrochemicals industry headed by rising demand for herbicides such as glyphosate and butachlor. The Asian-Pacific industries experienced particularly strong demand, with China and India being the leaders due to rising agricultural output and the expansion of crop protection programs. This led to heightened bulk purchases of paraformaldehyde by regional chemical manufacturers.
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Segment-wise Analysis
By Application
The agrochemicals segment will be the most lucrative and will grow at a CAGR of 4.8% over the forecast period from 2025-2035. It is widely used in the agrochemical sector predominantly because it acts as a vital intermediate for the manufacturing of several herbicides, fungicides, and pesticides. Its chemical structure, which readily releases formaldehyde when heated or reacted with other chemicals, renders it very useful for controlled chemical reactions needed to synthesize active agricultural chemicals such as glyphosate and butachlor.
Country-wise Analysis
In the United States, the market is expected to expand at a CAGR of 4.2% through the forecast period. The United States holds a significant share of the industry due to its well-established agrochemical, medical, and industrial sectors. Agriculture, especially in herbicide and fungicide manufacturing, is one of the key drivers for demand for products.
UK's sales are anticipated to post a CAGR of 3.9% during the forecast period. The UK agrochemical market is the highest user of paraformaldehyde, and its application in crop protection chemicals, primarily herbicides and fungicides. However, the use of formaldehyde-based products is strictly controlled in the nation, but that in itself has encouraged the substitution with safer and more eco-friendly alternatives, which can limit the explosive rise of product consumption in certain applications.
In Germany, the sector is expected to record a CAGR of 4.4% between 2025 and 2035. Being one of the largest agrochemical sectors in Europe, Germany's agricultural demand, especially in the manufacture of herbicides and fungicides, continues to be strong. The industrial base of the country, comprising chemicals, automotive, and manufacturing sectors, further fuels product demand, especially in resin and plastic manufacturing
In South Korea, the market is forecasted to grow at a CAGR of 3.8% during 2025-2035. The market in South Korea is driven by its large chemical, automotive, and electronics industries, which consume the material for use in resins, coatings, and adhesives manufacturing. South Korea's agricultural sector also uses product in the manufacture of herbicides and pesticides.
Competitive Landscape
The market is diversified, with players competing for share in different markets like agrochemicals, resins, and pharmaceuticals. The market is not very consolidated, and the competition comes from both major companies and niche players who focus on innovation and local growth.
Market leaders like Merck KGaA, Celanese Corporation, and Thana Acid & Chemical Company employ a mix of advanced manufacturing capabilities, strategic alliances, as well as presence to retain their industry status. These organizations concentrate on long-term research and development to design more efficient and safer products based on regulatory needs and business needs.
In 2024 to 2025, the competitive landscape was characterized by various strategic initiatives towards greater industry presence as well as adherence to consumer and regulatory requirements. For example, in 2024, Innovative Materials Inc. introduced a new series of paraformaldehyde-based adhesives with specific formulations tailored to meet the increasing demand of construction and automotive industries. This shows the focus of the industry in developing value-added products for specific industries.
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Key Players
Nantong Jiangtian Chemical Co., Ltd.
Ekta International
GFS Chemicals
Oswal Udhyog
Parchem
Caldic B.V.
Methanol Chemicals Company
Prefere Resins Holding GmbH
Segmentation
By Application :
Resins
Agrochemicals
Medical applications
Others
By Region :
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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