Paraformaldehyde Market Forecast, Size and Gross Margin Analysis by 2023
28th May 2019 – Global Paraformaldehyde Market is anticipated to witness an exponential growth in the forecast
period. Paraformaldehyde is a low molecular polycondensation compound of
methylene glycol with the nature of formaldehyde. It is formed by
polymerization of methanol by heating and is usually white crystalline in
nature.
The factors that
propel the growth of the market include increasing population, and growing
demand as a fumigant, disinfectant, fixative, and fungicide. Moreover,
increasing demand for paraformaldehyde as a hygienic & medical disinfector
in medicine and pharmaceuticals sector is likely to boost the market growth. On
the other hand, there are factors that may hamper the growth of the market
including side effects like cancer and nasal & ocular irritation.
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The market is anticipated to grow at a CAGR of
5.3% in the upcoming period as the scope, product types, and its applications
are increasing across the globe. The latest trend gaining huge traction in the
market is growing demand for resins by the shipping industry. The shipping
industry was stagnant in the past but has been recording a substantial growth
in the recent years. There is a growing demand for sail boats, power boats,
speed boats, and cruise ships that has led to a surge in marine traffic.
The market could be explored by application
and geography. The key applications that could be explored in the market
include Resins, Agrochemical, and Medical application. The “Agrochemical”
segment led the market in 2016 and will continue to lead in the forecast
period. The key factors that may be attributed to the growth of market include
rising population, and growing usage in the production.
Key
vendors
• Alder S.p.A
• Asahi Kasei Corporation
• Celanese Corporation
• Chang Chun Group
• Methanol Chemicals Co
• Ercros, S.A.
• Ineos Group Limited
Report
contents include
• Analysis of the paraformaldehyde market
including revenues, future growth, market outlook
• Historical data and forecast
• Regional analysis including growth estimates
• Analyzes the end user markets including
growth estimates.
• Profiles on paraformaldehyde including
products, sales/revenues, and market position
• Market structure, market drivers and
restraints.
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Market Report @ https://www.millioninsights.com/industry-reports/paraformaldehyde-market/request-sample
Asia-Pacific accounted for the major
share of the paraformaldehyde market in 2016 and will continue to lead in the
forecast period. The factors that could be attributed to the growth include
increasing production of paraformaldehyde in China, increasing development in
automotive, construction, and agricultural sectors, substantial rise pertaining
to growth in pharmaceutical, oil & gas, and automotive industries, and
increasing disposable income. Asia-Pacific is likely to be followed by Europe
and North America owing to increased production of pentaerythritol, laminates,
MDI and wood panels in the years to come.
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