Wilmington, Delaware, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Global Paraformaldehyde Market size is estimated at US$ 1,842.6 billion in 2023 and is predicted to rise at a substantial CAGR of 5.3% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
Formaldehyde, a chemical molecule having the formula CH2O, is a white, crystalline solid version of paraformaldehyde. It is a formaldehyde polymer that is extensively used as a disinfectant and fungicide. Paraformaldehyde is also used in a variety of industrial processes, including the manufacture of resins, plastics, textiles, paper, and agrochemicals.
As a disinfectant, paraformaldehyde is utilized in water treatment operations. It aids in water purification by removing dangerous germs. Demand for paraformaldehyde in water treatment applications is being driven by a growing awareness of the necessity of clean and safe drinking water.
- According to a deep-dive market assessment by RationalStat, the global paraformaldehyde market has been analyzed on the basis of market segments, including application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global paraformaldehyde market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global paraformaldehyde market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Paraformaldehyde Market: Segmental and Market Share Analysis
- On the basis of application, the agrochemicals segment, followed by resins, dominates the paraformaldehyde market. The rapid expansion of the agriculture sector is expected to increase demand for paraformaldehyde, propelling the global paraformaldehyde market ahead.
- On the basis of end user, the agriculture segment is expanding rapidly and dominate the market since paraformaldehyde is predominantly utilized as a soil fumigant and preservative.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1,842.6 billion |
| Market Size Forecast | US$ 2,782.6 billion |
| Growth Rate | 5.3% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
The global paraformaldehyde market is fragmented in nature, with numerous producers and suppliers active in the market. These players use a variety of techniques to increase their market share and acquire a competitive advantage over their competitors. Some of the key developments in the global paraformaldehyde market include,
- In May 2023, Innovative Materials Inc. introduced a line of paraformaldehyde-based adhesives and resins with high bonding strength and endurance.
- In April 2023, Global Chemical Solutions revealed a potential use for paraformaldehyde in agriculture. The company introduces a bio-based fertiliser formulation including paraformaldehyde, which promotes crop production and nutrient uptake.
Some of the prominent players and suppliers operating and contributing significantly to the global paraformaldehyde market growth include Merck KGaA Group, Celanese Corporation, Jinan Xiangrui Chemical Co., Thermo Fisher Scientific, Kothari Phytochemicals & Industries Ltd., PT. Dover Chemical, Ekta International, Simalin Chemical Industries Pvt Ltd., Alder S.p.A., Ercros S.A, Nantong Jiangtian Chemicals Co. Ltd., and Thana Acid & Chemical Company, among others.
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RationalStat has segmented the global paraformaldehyde market based on application, end user and region
- Global Paraformaldehyde Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Equipment Application
- Agrochemicals
- Coating
- Resin
- Medicines
- Papermaking
- Disinfectant
- Hardening agent
- Fluorescent Lights
- Waterproof agent
- Adhesives
- Dyestuffs
- Reagent for Organic Reactions
- Global Paraformaldehyde Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by End User
- Agriculture
- Chemical
- Paper Industry
- Plastic Industry
- Rubber Industry
- Leather Industry
- Electrical Industry
- Petroleum Industry
- Paints & Coatings Industry
- Oil & Gas Industry
- Personal Care
- Construction
- Automotive
- Pharmaceutical
- Textile
- Furniture
- Global Paraformaldehyde Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Paraformaldehyde Market
- US
- Canada
- Latin America Paraformaldehyde Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Paraformaldehyde Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Paraformaldehyde Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Paraformaldehyde Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Paraformaldehyde Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Paraformaldehyde Market
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Key Questions Answered in the Paraformaldehyde Report:
- What will be the market value of the global paraformaldehyde market by 2030?
- What is the market size of the global paraformaldehyde market?
- What are the market drivers of the global paraformaldehyde market?
- What are the key trends in the global paraformaldehyde market?
- Which is the leading region in the global paraformaldehyde market?
- What are the major companies operating in the global paraformaldehyde market?
- What are the market shares by key segments in the global paraformaldehyde market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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