Formaldehyde Market to Expand at a CAGR of 7.61% from 2014 to 2023

The trending report published by Crystal Market Research titled, Formaldehyde Market, approximates that the Formaldehyde market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.

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Formaldehyde is widely utilized as a part of different businesses, for example, construction, plywood, automobile, and so on. Key drivers for formaldehyde market incorporate the development of its application in different enterprises, for example, textile, and automobile and construction industry. Positive attitude toward growth and construction in foundation spending has prompted an upturn in formaldehyde market interest for different support and segment applications. Formaldehyde is composed close to the usage area, inferable from issues in transportation over long distances. Developing worries for safety and health viewing human life and in addition nature are required to be key difficulties for industry participants. The United States EPA has issued strict rules to be taken after to guarantee the safety of the workforce and avert potential harm to skin, lungs, skin, conceptive frameworks issues and cancer. Aside from administrative regulations, changes in the cost of raw materials are major issues related with the formaldehyde market.

Industry Outlook:
The Formaldehyde Market was worth USD 13.58 billion in 2014 and is expected to reach approximately USD 26.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.61% during the forecast period. Formaldehyde is a critical feedstock segment for creation urea-alkyd resins, which discover applications basically for the yield of restricting materials for medium thickness plywood and particle sheets

Market key Players:
Georgia-Pacific
Bayer Cropscience Limited
BASF
Formox AB
Momentive Specialty Chemical Inc
Formox AB
Dynea Oy
Huntsman Corporation.

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Regional Outlook :
The recuperating North American market has hinted at consistent demand in different fragments. Asia Pacific is foreseen to add to formaldehyde market development with its rising development and automotive markets. Different locales, for example, Europe and Latin America are foreseen to witness unfaltering interest development.

The Formaldehyde Market is segmented as follows-

By Application:
• Furniture
• Automotive
• Construction

By End User:
• UF resins
• Polyacetal resins
• 1,4-butanediol
• PF resins
• MF resins
• Pentaerythritol
• Methylenebis

Table of Contents

1. Introduction
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Technological advancement in automobile and construction industry
4. Formaldehyde Market, By Application
4.1. Introduction
4.2. Formaldehyde Market Assessment and Forecast, By Application, 2014-2023
4.3. UF resins
4.4. MF resins
4.5. PF resins
5. Formaldehyde Market, By End Use
6. Formaldehyde Market, By Region
7. Company Profiles

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