Formaldehyde Market Size, Trends & Growth Opportunity, by Derivatives (Urea Formaldehyde, Polyacetal Resins, Phenol Formaldehyde), by End-use (Electronics, Automotive, Agriculture, Textile), and by geography (North America, Latin America, Europe, APAC, Middle East & Africa) and forecast till 2027
Report ID : QR1001262 | Industries : Chemicals & Materials | Published On :November 2021 | Page Count : 253Formaldehyde Market
Formaldehyde is made up of oxygen, hydrogen, and carbon. Formaldehyde is an aldehyde, occurs as an extremely flammable, colourless gas with a solid pungent smell. Other names of Formaldehyde are methanal, formic aldehyde, formalin (when dissolved in water) etc. It is primarily formed by the method of vapor-phase oxidation of methanol. Naturally it is also produced by nearly all living organism during cellular metabolism. Formaldehyde is used widely in the making processes of various chemicals as a pioneer, in the production of industrial resins, for manufacturing plywood, particle boards, fiber boards, adhesives and glues, permanent press fabrics, industrial coatings, insulation materials.
Market Drivers
The main driving factor of the Formaldehyde Market is the high demand for melamine formaldehyde in construction, automotive, and furniture in the forecast period. Development of the building & construction industry and constant demand for formaldehyde in the furniture sector are the driving factor of the global formaldehyde market.
Market Restraints
The major toxicity exhibited by formaldehyde is the key factor restricting the market growth. Because of its hazardous nature, its application has become restricted in the personal care and cosmetics sector. Formaldehyde has possible side effects on human health and there are strict government regulations for the workers’ safety in factories are the factors may hamper the growth of the market.
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Market Segmentation
Formaldehyde Market is segmented by Derivatives (Urea Formaldehyde, Polyacetal Resins, Phenol Formaldehyde, Melamine formaldehyde, Pentaerythritol, Methylenebis,1,4 Butanediol, Hexamethylenetetramine, Others), by End-use (Electronics, Automotive, Agriculture, Textile, Furniture, Water Treatment, Building & Construction, Healthcare, Oil & Gas, Cleaning Products, Others), and by geography (North America, Latin America, Europe, APAC, Middle East & Africa) and forecast till 2027.
Regional Analysis
Asia Pacific is anticipated to dominate the market by showing maximum growth in the review period mostly because of the increasing growth of construction and automotive industry in this region and favorable government investment in infrastructure expansion in emerging Asian countries. Huge population base, growing population, development in the end-use industries at a fast pace are some of the factors pushing the growth of the market in Asia Pacific. Europe is the second-largest market for formaldehyde in 2020 due to Increasing demand for formaldehyde from the furniture industry in countries, like Russia, Italy, and Germany. Ccentral and South America (CSA) is anticipated to witness high demand for formaldehyde from different end-use applications, like cosmetics, healthcare, photography, paint, and food.
Market Key Players
Key players in Formaldehyde Market are Allnex Belgium SA/NV, BASF SE, Chemiplastica SA, Georgia-Pacific Chemicals LLC, Hexza Corporation Berhad, Hexion Inc., INEOS Group, Mitsui Chemicals Inc., Nissan Chemical Industries Ltd., and Pacific Texchem Pvt. Ltd.
Industry Development
The global formaldehyde market is fragmented with the presence of a few large-sized players and large numbers of small players operating in China.
The global formaldehyde market is dominated by BASF SE, Hexion Inc., PJSC Metafrax, and Ercros S.A. The four companies cumulatively accounted for 25% share of the global formaldehyde market in 2018.
On April 9, 2019, Dynea AS announced it had entered into a contract to build a 100 KTA formaldehyde plant with PJSC Metafrax at Gubakha, Perm, Russia.
In November 2016, Celanese Corporation announced it had increased the prices of formaldehyde (50%) by US$ 0.020 per pound and those of formaldehyde (37%) by US$ 0.015 per pound.
Formaldehyde Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data End-users
3 Executive Summary
4 Formaldehyde Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Formaldehyde Market, By Derivatives
5.1 Y-o-Y Growth Comparison, By Derivatives
5.2 Formaldehyde Market Share Analysis, By Derivatives
5.3 Formaldehyde Market Size and Forecast, By Derivatives
5.3.1 Urea Formaldehyde (UF)
5.3.2 Phenol Formaldehyde (PF)
5.3.3 Melamine formaldehyde (MF)
5.3.4 Polyacetal Resins
5.3.5 Pentaerythritol
5.3.6 1,4 Butanediol
5.3.7 Methylenebis
5.3.8 Hexamethylenetetramine (HMTA)
5.3.9 Others
6 Formaldehyde Market, By End-use
6.1 Y-o-Y Growth Comparison, By End-use
6.2 Formaldehyde Market Share Analysis, By End-use
6.3 Formaldehyde Market Size and Forecast, By End-use
6.3.1 Electronics
6.3.2 Automotive
6.3.3 Furniture
6.3.4 Water Treatment
6.3.5 Textile
6.3.6 Building & Construction
6.3.7 Healthcare
6.3.8 Oil & Gas
6.3.9 Agriculture
6.3.10 Cleaning Products
6.3.11 Others
7 Formaldehyde Market, By Region
7.1 Formaldehyde Market Share Analysis, By Region
7.2 Formaldehyde Market Share Analysis, By Region
7.3 Formaldehyde Market Size and Forecast, By Region
8 North America Formaldehyde Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Formaldehyde Market Share Analysis, By Derivatives
8.3 North America Formaldehyde Market Size and Forecast, By End-use
8.4 North America Formaldehyde Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Formaldehyde Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Formaldehyde Market Share Analysis, By Derivatives
9.3 Europe Formaldehyde Market Size and Forecast, By End-use
9.4 Europe Formaldehyde Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Formaldehyde Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Formaldehyde Market Share Analysis, By Derivatives
10.3 Asia Pacific Formaldehyde Market Size and Forecast, By End-use
10.4 Asia Pacific Formaldehyde Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Formaldehyde Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Formaldehyde Market Share Analysis, By Derivatives
11.3 Latin America Formaldehyde Market Size and Forecast, By End-use
11.4 Latin America Formaldehyde Market Size and Forecast, Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Formaldehyde Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Formaldehyde Market Share Analysis, By Derivatives
12.3 Middle East Formaldehyde Market Size and Forecast, By End-use
12.4 Middle East Formaldehyde Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Allnex Belgium SA/NV
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.8 Key Strategies
14.2 BASF SE
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.8 Key Strategies
14.3 Chemiplastica SA
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.8 Key Strategies
14.4 Georgia-Pacific Chemicals LLC
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.8 Key Strategies
14.5 Hexza Corporation Berhad
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.8 Key Strategies
14.6 Hexion Inc.
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 INEOS Group
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Mitsui Chemicals Inc.
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Nissan Chemical Industries Ltd
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Pacific Texchem Pvt. Ltd.
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies