Global Formaldehyde Market Size, Share To Grow $15.51 Billion By 2030 | CAGR 5 %

Global Formaldehyde Market worth $15.51 billion by 2030

According to a research report published by Spherical Insights & Consulting, the Global Formaldehyde Market Size to grow from USD 10.00 billion in 2021 to USD 15.51 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. Over the projected period, the demand for Formaldehyde in the market will increase due to changing consumer preferences and increased Formaldehyde consumption for the building and construction industries.

Browse 79 market data Tables and 70 Figures spread through 235 Pages and in-depth TOC on  “Global Formaldehyde Market Size, Share, and COVID-19 Impact Analysis By Derivative (Urea Formaldehyde (UF) Resins, Phenol Formaldehyde (PF) Resins, MF Resins, Polyacetal Resins, 1,4-butanediol, Pentaerythritol and Methylenebis) By Application (Fibers, Solvents, Plasticizers, Drying Agents, Resins and Other Chemical Intermediaries) By End-use (Healthcare, Consumer Goods, Automotive, Construction and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030”. View a detailed Table of Content here – https://www.sphericalinsights.com/table-of-contents/formaldehyde-market

The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.

The Phenol Formaldehyde Resins segment to account for the largest market size during the forecast period

Based on the Derivative, the Formaldehyde Market is categorized into Urea Formaldehyde (UF) Resins, Phenol Formaldehyde (PF) Resins, MF Resins, Polyacetal Resins, 1,4-butanediol, Pentaerythritol and Methylenebis. The Phenol Formaldehyde Resins segment to account for the largest market size during the forecast period. Throughout the forecast period, the Phenol Formaldehyde Resins segment is anticipated to maintain its leading position Due to a large increase in the use of plywood and laminates, the Phenol Formaldehyde Resin is anticipated to develop at the highest CAGR. Growing demand for phenol formaldehyde resin is anticipated in the next years as a result of rising residential and commercial building due to an increase in worldwide population. Due to their outstanding resistance to chemicals, water, and UV radiation, these resins are also utilised in the production of paints and coatings.

The Resins segment to hold a higher CAGR during the forecast period.

Based on the application, the Formaldehyde Market is categorized into Fibers, Solvents, Plasticizers, Drying Agents, Resins and Other Chemical Intermediaries. The Resins segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Resins segment is anticipated to maintain its leading position while expanding at the fastest CAGR Due to the substantial use of formaldehyde during the production of the resins, which are then used across several end-use sectors, the resins have emerged as the main application segment. The synthesis of phenol formaldehyde resin, urea-formaldehyde resin, and other materials uses formaldehyde.

The Construction segment to hold a higher CAGR during the forecast period.

Based on the End-use, the Formaldehyde Market is categorized into Healthcare, Consumer Goods, Automotive, Construction and Others. The Construction segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Construction segment is anticipated to maintain its leading position while expanding at the fastest CAGR Due to its significant usage in the production of plywood, cabinet doors, strand board, mouldings, furniture, countertops, cabinets, shelving, and laminates, the building and construction industry has emerged as the market leader. Growing middle-class population and rising population base have led to increased residential and commercial infrastructure investment. The use of formaldehyde produces furniture that is inexpensive and durable.

North America to hold a higher CAGR during the forecast period.

The Global Formaldehyde Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. The demand for Formaldehyde is being driven by the rising acceptance by the market. The market for Formaldehyde was dominated by the Asia Pacific region mostly as a result of the region's expanding construction and automobile industries. The demand for formaldehyde is anticipated to increase throughout the study period due to favourable government investments in the growth of infrastructure in rising Asian nations. Large population base, rising population, and swift end-use industry growth are a few of the reasons driving the Asia Pacific market's expansion.

Major Vendors in the Global Formaldehyde Market: Alder S.p.A, BASF SE,

Bayer Crop Science, Celanese AG, Dynea AS, Foremark Performance Chemicals, Georgia-Pacific Chemicals LLC, Huntsman International LLC, Johnson Matthey Process Technologies, Momentive Specialty Chemical Inc., and PerstorpOrgnr.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Formaldehyde Market based on the below-mentioned segments:

Global Formaldehyde Market, By Derivative

• Urea Formaldehyde (UF) Resins
• Phenol Formaldehyde (PF) Resins
• MF Resins
• PolyacetalResins
• 1,4-butanediol
• Pentaerythritol
• Methylenebis
•  

Global Formaldehyde Market, By Application

• Fibers
• Solvents
• Plasticizers
• Drying Agents
• Resins
• Other Chemical Intermediaries
•  

Global Formaldehyde Market, By End-use

• Healthcare
• Consumer Goods
• Automotive
• Construction
• Others
•  

Global Formaldehyde Market, Regional Analysis

North America

• US
• Canada
• Mexico

Europe

• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific

South America

• Brazil
• Argentina
• Rest of South America

Middle East & Africa

• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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