Paraformaldehyde Market Scenario
Reports that appraise the chemicals and materials industry have been presented by Market Research Future, which creates reports on industry verticals that assess the market development and prospects. The market is expected to gain revenues amounting to USD 802.85 million by 2023 while progressing with a CAGR of 6.2 % between 2016 and 2023.
The elevated demand level being observed from the plastic industry, pharmaceutical, and agrochemical industry is expected to boost the progress of the paraformaldehyde market in the coming years. The use of paraformaldehyde in applications such as the production of urea formaldehyde, resin, herbicides in agrochemicals, lubricant additives is expected to transform the growth of the market in the future.
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The incremental demand for paraformaldehyde from end-user industries such as plastic industry, agrochemical, and pharmaceutical is expected to diversify the opportunities for growth in the upcoming period.
- Celanese Corp. (US),
- Alfa Aesar (US),
- LCY Chemical Corp. (Taiwan),
- Shandong Tuobo Plastics Products Co., Ltd. (China),
- INEOS Group AG (Switzerland),
- Chemanol (SA),
- Nantong Jiangtian Chemicals Co. Ltd. (China),
- Shouguang Xudong Chemical Co Ltd (China),
- Inter Atlas Chemica (UK),
- Alder S.p.A (Europe), and others.
The segmentation of the paraformaldehyde market is segmented on the basis of end-user and region.
Based on the end users, the paraformaldehyde market is segmented into pharmaceutical, plastic industry, agrochemical, and others.
Based on the region, the paraformaldehyde market is segmented into Europe, APAC, Africa, North America, Latin America, and the Middle East.
Apr 2019 INEOS Enterprises has recently announced the sale of INEOS Paraform and Melamines to Prefere Resins Holding GmbH. The contract encompasses sites in Germany, the US, and Indonesia. INEOS Paraform is Europe’s second major manufacturer of paraformaldehyde. The business has been manufacturing formaldehyde and its downstream derivatives for more than 100 years and is carrying on innovations and develop its business.
The regional evaluation of the paraformaldehyde market comprises of regions such as Europe, APAC, Africa, North America, Latin America, and the Middle East.
As per the analysis, the Asia Pacific region is the quickest growing market and is projected to expand favorably during the forecast period. The factors influencing its growth are the production and consumption of paraformaldehyde in developing economies. In China, the growing demand in the plastic and agrochemical industries are the key drivers of the paraformaldehyde market.
The Middle East and Latin America regions are expected to witness stagnant growth on account of amplified production of rubber, papermaking, plastics, and leather over the forecast period.
The North American region is the next major regional market and is anticipated to observe a significant rise in terms of the growth in pharmaceutical and plastic industries trailed by the European region owing to the advancement in technology in the plastic industry.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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