At 8.50% CAGR, Formaldehyde Market Size Worth USD 7.68 billion by 2028

 Formaldehyde market size is valued at USD 7.68 billion by 2028 and is expected to grow at a compound annual growth rate of 8.50% for the forecast period of 2021 to 2028.  Data Bridge Market Research report on formaldehyde market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

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Market Analysis and Insights : Global Formaldehyde Market

Formaldehyde is an essential feedstock component which is used for the production of urea-alkyd resins, and finds applications as binding materials for the middling density particle boards and plywood. Formaldehyde is usually synthesized from methanol which is mainly used in the synthesis of resins.  Formaldehyde is extensively used in various industries such as plywood, construction, automobile and healthcare.

The high growth of its application in various industries such as automobile, construction and textile industry has highly influenced growth of the formaldehyde market. In line with this, the growing demand for paints and coatings and high demand for high quality plasticizers are also acting as a key determinant favoring the growth of the formaldehyde market over the forecast period of 2021 to 2028. Also the increasing construction spending and rapidly growing automotive industry are also positively impacting the growth of the formaldehyde market. The major factor accountable for the growth of the market is the rising demand for luxury furniture and increasing preference towards specialty fertilizers.

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Competitive Landscape and Formaldehyde Market Share Analysis

Formaldehyde market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to formaldehyde market.

The major players covered in the formaldehyde market report are Dynea AS, BASF SE, Huntsman International LLC, Balaji Formalin Private Limited, Bayer AG, Georgia-Pacific Chemicals, Perstorp, Chemique Adhesives & Sealants Ltd., Hexion, Celanese Corporation, Foremark Performance Chemicals, Ercros S.A., Chemanol, LyondellBasell Industries Holdings B.V., Alder SpA, 3M, Momentive, Johnson Matthey, DuPont and Merck KGaA, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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