Paraformaldehyde Market : Growth, Demand, Supply, SWOT, Consumption, ROI to 2023

Transparency Market
Research
Paraformaldehyde Market for Resins, Agrochemicals,
Medical, and Other Applications - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast
2015 - 2023
Published Date
2015-07-28
110 Page Report
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Press Release
Paraformaldehyde Market expected to reach US$ 791.9 Mn in
2023
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Paraformaldehyde Market
REPORT DESCRIPTION
Global Paraformaldehyde Market: Snapshot
In the last few years, the use of paraformaldehyde has increased significantly owing to the rising
number of applications. The growing demand from agrochemical and resins manufacturers is
expected to encourage the growth of the global paraformaldehyde market in the coming years.
Some of the key applications of paraformaldehyde are medical appliances, agrochemicals, resins,
lubricant additives, papermaking, and others. The key players in the market are emphasizing on
increasing the number of applications is estimated to supplement the growth of the market in the
coming years.
According to the research study, the global market for paraformaldehyde is anticipated to reach
a value of US$791.9 mn by the end of 2023. The market is likely to register a healthy 6.0% CAGR
between 2015 and 2023.
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Application of paraformaldehyde as Lubricant Additives to Encourage Growth
The rising rate of adoption of GM crops has resulted in a high demand for glyphosate, which is
the key factor estimated to encourage the growth of the global paraformaldehyde market in the
coming years. In addition, the growing demand for resins is predicted to accelerate the overall
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Paraformaldehyde Market
development of the market in the near future. The rising focus on the development of new
products and technological advancements are estimated to supplement the market’s growth.
On the flip side, several concerns related to the sanctions and restrictions against glyphosate are
anticipated to restrict the growth of the global paraformaldehyde market in the forecast period.
Nevertheless, the application of paraformaldehyde as drilling fluids and as a lubricant additive is
expected to generate promising opportunities for key players operating in the global market in
the next few years.
Rising Contribution from China to Bolster Asia Pacific Paraformaldehyde Market
In the last few years, the Asia Pacific segment held a large share of the global paraformaldehyde
market and is likely to remain in the topmost position in the next few years. The tremendous
contribution from China is estimated to accelerate the growth of this region and is considered as
one of the largest manufacturers across the globe. The expansion of the application base of
paraformaldehyde is expected to supplement the growth of this segment in the coming years.
Furthermore, North America and Europe are anticipated to follow Asia Pacific throughout the
forecast period. The rising demand from diverse industries and the increasing focus on
technological developments are anticipated to encourage the growth of the Asia Pacific market
for paraformaldehyde in the next few years. Furthermore, Latin America and the Middle East and
Africa are likely to witness a healthy growth in the next few years.
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Paraformaldehyde Market
Growing Demand from Diverse Industries to Encourage Growth
The growing demand for paraformaldehyde has attracted several new players to enter the
market in order to expand their product horizon and attain a leading position in the market. The
rising level of competition is projected to result in introduction of new products and the creating
an awareness among consumers regarding the use of paraformaldehyde across diverse
industries. In addition, the rising number of mergers and acquisitions is another major factor
anticipated to contribute significantly towards the growth of the global market throughout the
forecast period.
Some of the key players operating in the paraformaldehyde market across the globe are Nantong
Jiangtian Chemical Co., Ltd., Celanese Corporation, Shouguang Xudong Chemical Co., Ltd., Feno
Resinas S.A. de C.V., INEOS Group Limited, and LCY Chemical Corp. The presence of a large
number of players is expected to enhance the competitive scenario of the overall market
throughout the forecast period.
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Paraformaldehyde Market
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