Formaldehyde Market to Record Sturdy Growth by 2017 - 2026
The demand for formaldehyde is continuously rising due to its increasing use in the production of various resins. These resins are being used in various industries for manufacturing purpose. Formaldehyde is also being used in producing home building products. Formaldehyde is also known for its preservative and anti-bacterial properties. Hence, medical laboratories and some consumer products are also using formaldehyde as a preservative. The global consumption of formaldehyde is increasing as it is being used on a large scale for construction and remodeling activity and furniture production. Due to the excellent thermal and chemical resistance, formaldehyde-based resins are being used in manufacturing airplane and automobile parts. Formaldehyde is also being used in manufacturing anti-infective drugs, hard-gel capsules, and vaccines.
However, there have been increasing concerns over harmful effects from exposure to formaldehyde on human health. Various studies were conducted to assess the level of risk, however, lack of evidence has resulted in the disagreement regarding appropriate risk assessment for formaldehyde among various unions, government agencies, etc. Moreover, stringent regulations on formaldehyde emissions are also acting as a major restraint in the growth of the global formaldehyde market.
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Some of the leading companies in the global formaldehyde market are Johnson Matthey Process Technologies, Foremark Performance Chemicals, Huntsman International LLC, Momentive Specialty Chemical Inc., Dynea AS, Alder S.p.A, Georgia-Pacific Chemicals LLC, Perstorp Orgnr, Celanese AG, and BASF SE.global formaldehyde market
As per the latest study by Transparency Market Research (TMR), the global formaldehyde market is anticipated to experience moderate growth, expanding at 4.8% CAGR during the forecast period 2017-2026. The global formaldehyde market is also expected to reach 36.6 million tons towards the end of 2026.
The global formaldehyde market has been segmented into application, derivatives, end use, and region. On the basis of derivatives, Urea Formaldehyde (UF) resins and concentrates is likely to witness the highest growth in terms of volume throughout the forecast period from 2017 to 2026.
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Based on the application, the market is further segmented into resins, drying agents, plasticizers, solvents, fibers, and other chemical intermediaries. Formaldehyde is expected to find the largest application in resins during 2017-2026.
By end use, the market is further segmented into construction, healthcare, automotive, consumer goods, and others. The construction industry is expected to be the largest user of formaldehyde during the forecast period.
Asia Pacific Excluding Japan (APEJ) is expected to dominate the global formaldehyde market. Emerging economies such as China and India are witnessing a rapid increase in the demand for formaldehyde for use in various industries. There has been an increase in the use of formaldehyde for producing fuel. Countries seeking a cheaper substitute for oil are driving the demand for formaldehyde. Also, increasing number of companies in China are testing formaldehyde to be used in producing fuel. The development and application of fuel produced using formaldehyde is still in the nascent stage. Meanwhile, demand for formaldehyde is also expected to increase in the U.S. Increasing production of laminates, panels, and pentaerythritol in Central Europe, South America, and the Middle East is also expected to drive the market for formaldehyde. The U.S. Food and Drug Administration (FDA) has also approved the use of formaldehyde as an indirect food additive.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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However, there have been increasing concerns over harmful effects from exposure to formaldehyde on human health. Various studies were conducted to assess the level of risk, however, lack of evidence has resulted in the disagreement regarding appropriate risk assessment for formaldehyde among various unions, government agencies, etc. Moreover, stringent regulations on formaldehyde emissions are also acting as a major restraint in the growth of the global formaldehyde market.
Read Report Overview @
https://www.transparencymarketresearch.com/formaldehyde-market.html
Some of the leading companies in the global formaldehyde market are Johnson Matthey Process Technologies, Foremark Performance Chemicals, Huntsman International LLC, Momentive Specialty Chemical Inc., Dynea AS, Alder S.p.A, Georgia-Pacific Chemicals LLC, Perstorp Orgnr, Celanese AG, and BASF SE.global formaldehyde market
As per the latest study by Transparency Market Research (TMR), the global formaldehyde market is anticipated to experience moderate growth, expanding at 4.8% CAGR during the forecast period 2017-2026. The global formaldehyde market is also expected to reach 36.6 million tons towards the end of 2026.
The global formaldehyde market has been segmented into application, derivatives, end use, and region. On the basis of derivatives, Urea Formaldehyde (UF) resins and concentrates is likely to witness the highest growth in terms of volume throughout the forecast period from 2017 to 2026.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1367
Based on the application, the market is further segmented into resins, drying agents, plasticizers, solvents, fibers, and other chemical intermediaries. Formaldehyde is expected to find the largest application in resins during 2017-2026.
By end use, the market is further segmented into construction, healthcare, automotive, consumer goods, and others. The construction industry is expected to be the largest user of formaldehyde during the forecast period.
Asia Pacific Excluding Japan (APEJ) is expected to dominate the global formaldehyde market. Emerging economies such as China and India are witnessing a rapid increase in the demand for formaldehyde for use in various industries. There has been an increase in the use of formaldehyde for producing fuel. Countries seeking a cheaper substitute for oil are driving the demand for formaldehyde. Also, increasing number of companies in China are testing formaldehyde to be used in producing fuel. The development and application of fuel produced using formaldehyde is still in the nascent stage. Meanwhile, demand for formaldehyde is also expected to increase in the U.S. Increasing production of laminates, panels, and pentaerythritol in Central Europe, South America, and the Middle East is also expected to drive the market for formaldehyde. The U.S. Food and Drug Administration (FDA) has also approved the use of formaldehyde as an indirect food additive.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com