Paraformaldehyde Market Share and Forecast 2016-2024 Paraformaldehyde Market Size by Application (Resins, Agrochemicals, and Medical Applications), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Global Market Scenario of Paraformaldehyde • Paraformaldehyde Market size was USD 493.2 million in 2015 with gains at over 6% between 2016 and 2024. • Paraformaldehyde market shall grow substantially in the near future due to its growing demand as fungicide, fixative, fumigant, and disinfectant. Boosting agricultural sector due to increasing global population is a preliminary driving factor for paraformaldehyde market. • Paraformaldehyde is commonly used in the pharmaceutical industry as a general and specialty disinfectant. The global pharmaceutical industry size is growing annually at over 4% and is likely to cross USD 1.5 trillion by 2024. • Paraformaldehyde from consumer goods and industrial activity can cause ocular & nasal irritation. In some cases, it has been reported to lead to cancer, which can slow down the product market.
Product Analysis:- • Paraformaldehyde resins application will exhibit a CAGR of nearly 5% till 2024 in the market. The compound is used to manufacture different resin forms such as polyester, polyamides, alkyds, amines, polyurethanes, aromatic polyamides, polycarbonates, and phenols. Favorable properties of these resins make them suitable for automotive, aerospace, paints & coatings, rubber, adhesives, electrical; & electronics, and paper industries. • Fungicide and fumigant products of the market will witness a substantial growth up till 2024. Shift in farming practices, mounting post-harvest crop losses, storage technologies in warehouses are some of the key factors propelling the growth of these products. • Regional Trends:- • Asia Pacific contributed to over 50% of the paraformaldehyde market revenue in 2024. For example, India is known as primarily an agricultural economy where minimizing crop losses and achieving food crops self-sufficiency, will pave the way for paraformaldehyde usage in future with increased agrochemical consumption. • Germany accounts for more than 15% share in its European market. Spearheading developments in, electronics, automotive, aerospace and other engineering companies in the country makes it a substantial contributor of its region. • U.S. is an international hub for the pharmaceutical industry from past few decades. Paraformaldehyde consumption in the medical sector as a fixative and disinfectant will grow its market.
U.S. Paraformaldehyde Market Size, By Application, 2013-2024 (USD Million) Request for customization @ https://www.gminsights.com/roc/1207
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