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Formaldehyde Market | Covid-19 Impact Analysis
The Formaldehyde Market is Segmented by Derivative Type (Urea Formaldehyde (UF), Phenol Formaldehyde (PF)), Melamine Formaldehyde (MF), Polyoxymethylene/Polyacetal (POM) Formaldehyde, Methylene Diphenyl Diisocyanate (MDI) Formaldehyde, Pentaerythritol Formaldehyde, Butanediol (1,4 BDO) Formaldehyde, Paraformaldehyde, Hexamine Formaldehyde, and Other Formaldehydes), by End-Use Application Type (Resins, Textile, Plasticizers, Paints, Elastic Fibers, Synthetic Lubricants, Polyurethane Foams, Vulcanization Accelerators, Household/Electronic Appliances, Pesticides, and Other End-Use Applications), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Formaldehyde market is likely to witness a healthy CAGR of 5% during the forecast period. The shift towards the high-performance additives and the rising demand for adhesives & coatings used in furniture, textile, automotive, and construction industries are likely to drive the market in the coming years.
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Formaldehyde Market - Snapshot |
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Growth |
5% for the next five years |
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Major Derivative Type |
UF |
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Fastest-Growing End-Use Application Type |
Paints |
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Region with the highest demand |
North America |
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Key Players |
Bayer AG, Balaji Formalin Private Limited, BASF SE, Celanese Corporation, Chemique Adhesives & Sealants Ltd, Dynea Oy, Georgia-Pacific Chemicals, LLC, Hexion Inc., Huntsman Corporation, Perstorp Holding AB |
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Based on the derivative type, the market is segmented as urea formaldehyde (UF), phenol formaldehyde (PF)), melamine formaldehyde (MF), polyoxymethylene/ polyacetal (POM) formaldehyde, methylene diphenyl diisocyanate (MDI) formaldehyde, pentaerythritol formaldehyde, butanediol (1,4 BDO) formaldehyde, paraformaldehyde, hexamine formaldehyde, and other formaldehydes. In 2019, the UF resin segment led the formaldehyde market, due to its usage in manufacturing high-performance automotive interior, parts of fuel systems, and building material.
Based on the end-use application type, the formaldehyde market is segmented into resins, textile, plasticizers, paints, elastic fibers, synthetic lubricants, polyurethane foams, vulcanized accelerators, household/electronic appliances, and pesticides. The paints & coating application of formaldehyde derivatives is likely to have good growth opportunities in the future as these derivatives offer several advantages, such as superior functionality and versatility and have excellent chemical properties.
In terms of regions, North America was the largest formaldehyde market in 2019 and is likely to remain so during the forecast period as well. Also, the growth in the wood furniture market in North America to provide growth opportunities for the formaldehyde manufacturers.
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Some of the major formaldehyde manufacturers are-
Formaldehyde is a chemical compound manufactured by the oxidation of methanol. Formaldehyde, with excellent physical & chemical properties is used in building materials & household product formulations. Formaldehyde is widely used in manufacturing of lightweight resins which are used in automotive industry.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Formaldehyde Market Research Report - Features |
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Market Segmentation |
3 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The formaldehyde market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The formaldehyde market is expected to witness an impressive growth of 5.0% CAGR in the foreseeable future.
Bayer AG, Balaji Formalin Private Limited, BASF SE, Celanese Corporation, Chemique Adhesives & Sealants Ltd, Dynea Oy, Georgia-Pacific Chemicals, LLC, Hexion Inc., Huntsman Corporation, and Perstorp Holding AB are among the key players in the formaldehyde market.
North America is expected to be the largest formaldehyde market during the next five years.
Some of the factors driving the growth of formaldehyde market are the shift towards the high-performance additives and the rising demand for adhesives & coatings used in furniture, textile, automotive, and construction industries.
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