The global formaldehyde market is anticipated to grow at a considerable CAGR of 3.8% during the forecast period (2023-2030). Formaldehyde is the most commercially important aldehyde. It has its applications in wide range of industries including agriculture, automotive, medical chemical & petrochemical, and others. The growing application of formaldehyde in different industrial sector has promoted the key producer of the formaldehyde to invest in the expansion of their formaldehyde production facilities. Thus, the rising inclination of key market players towards the adoption of expansion strategies across the globe is anticipated to drive the growth of the global formaldehyde market.
Browse the full report description of “Formaldehyde Market Size, Share & Trends Analysis Report by Derivative (Urea Formaldehyde, Phenol Formaldehyde, Melamine Formaldehyde, Hexamine, Polyoxymethylene, and Others), and By Application (Construction, Agriculture, Automotive, Medical, Chemical & Petrochemical, and Others), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/formaldehyde-market
For instance, in September 2019, PJSC Metafrax and Dynea AS signed a contract for engineering, equipment supply and site services for a large formaldehyde plant, to be implemented in Gubakha, Perm region (Russia). Under the terms of the contract, Dynea will act as Technology Licensor for the supply of a new fasil silver catalyst formaldehyde plant. The plant nameplate capacity will be 100 000 TPA (expressed in 100% Formaldehyde) and will produce 55% Formaldehyde. The capacity of the plants will be 180 thousand tons of 55.0% formaldehyde and 30 thousand tons of paraformaldehyde per year. Such developments are contributing towards the market growth.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Derivative
o By End-User Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- BASF SE, Hexion Inc., PJSC Metafrax, and Ercros S.A., among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Formaldehyde Market Report Segment
By Derivative
By End-User Industry
Global Formaldehyde Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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