Global Paraformaldehyde Market

Paraformaldehyde Market Size, Share, Growth Analysis, By Testing(Purity Testing type and Particle Size Analysis), By Application(Resin Production and Agrochemicals) - Industry Forecast 2024-2031


Report ID: SQMIG15A2351 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 59 | Figures: 75

Paraformaldehyde Market Insights

Paraformaldehyde Market size was valued at USD 1.73 billion in 2021 and is poised to grow from USD 1.82 billion in 2022 to USD 2.8 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

The global paraformaldehyde market is experiencing significant growth due to several key factors. The increasing demand for paraformaldehyde in various industries, such as pharmaceuticals, agrochemicals, resins, and plastics, is driving market growth.

The growing emphasis on sustainable and eco-friendly products is further propelling the demand for paraformaldehyde as it is considered an environmentally friendly alternative to other chemicals.

Furthermore, the rising population, urbanization, and industrialization in emerging economies are creating lucrative opportunities for market expansion. However, the market is also faced with challenges such as the availability of substitutes and stringent regulations regarding chemical usage, which may restrain the growth of the paraformaldehyde market to some extent.

US Paraformaldehyde Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 1.73 billion

Largest Segment

Purity Testing

Fastest Growth

Purity Testing

Growth Rate

5.5% CAGR

Global Paraformaldehyde Market ($ Bn)
Country Share for Asia Pacefic Region (%)
Global Paraformaldehyde Market By Type ($ Bn)
Global Paraformaldehyde Market By Type (%)

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Paraformaldehyde Market Segmental Analysis

The global paraformaldehyde market is segmented by testing, application, and region. Based on testing type, the market can be segmented into purity testing type and particle size analysis. Based on application, the market is segmented into resin production and agrochemicals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Paraformaldehyde Market Analysis by Testing

The dominant sub-segment in the testing type of paraformaldehyde is the purity testing type. Purity testing is essential to ensure that the paraformaldehyde meets the required quality standards for its intended applications.

The fastest-growing sub-segment in the testing type of paraformaldehyde is the particle size. This sub-segment is witnessing rapid growth due to the demand for tailored paraformaldehyde products that can meet specific requirements in industries like adhesives, resins, and coatings.

Global Paraformaldehyde Market By Type, 2023 (%)

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Paraformaldehyde Market Regional Insights

One dominant region in the global paraformaldehyde market is Asia Pacific. The region is characterized by a large presence of chemical manufacturing industries, particularly in countries like China and India. These countries have a strong demand for paraformaldehyde due to its wide range of applications in various industries such as plastics, resins, pharmaceuticals, and agriculture. The increasing population, rapid industrialization, and economic growth in Asia Pacific are driving the demand for paraformaldehyde in the region.

One of the fastest-growing regions in the global Paraformaldehyde market is Latin America. The region is witnessing significant growth in various industries, including chemicals, agriculture, and pharmaceuticals. The increasing agricultural activities, expanding manufacturing sector, and rising demand for chemical products are contributing to the growing demand for paraformaldehyde in Latin America. Additionally, favorable government policies and investments in infrastructure development are further driving the market growth in the region. The growing emphasis on sustainable agricultural practices and the need for high-quality chemical products are propelling the demand for paraformaldehyde in Latin America.

Global Paraformaldehyde Market By Geography, 2024-2031
  • Largest
  • Fastest

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Paraformaldehyde Market Dynamics

Paraformaldehyde Market Drivers

Increasing Demand From Various End-Use Industries

  • One driver of the market is the increasing demand from various end-use industries such as plastics, resins, pharmaceuticals, and agrochemicals. Paraformaldehyde is a key raw material in the production of resins and plastics, which are widely used in automotive, construction, and packaging industries. The growth in these industries, coupled with the rising need for durable and lightweight materials, drives the demand for paraformaldehyde.

Paraformaldehyde Market Restraints

Potential Health And Environmental Concerns

  • One restraint of the market is the potential health and environmental concerns associated with its use. Paraformaldehyde is classified as a hazardous substance and exposure to high concentrations can cause respiratory irritation and other health issues. Additionally, the release of paraformaldehyde into the environment can have adverse effects on ecosystems. These concerns have led to stricter regulations and increased scrutiny on the use and handling of paraformaldehyde, which could impact its market growth.

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Paraformaldehyde Market Competitive Landscape

The global paraformaldehyde market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of paraformaldehyde. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.

Paraformaldehyde Market Top Player’s Company Profiles

  • Celanese Corporation (United States)
  • INEOS Group Holdings S.A. (Switzerland)
  • Shandong Shuangqi Chemical Co., Ltd. (China)
  • Ercros S.A. (Spain)
  • Changzhou Chemistar Chemistry Technology Co., Ltd. (China)
  • Nantong Jiangtian Chemical Co., Ltd. (China)
  • Shouguang Xudong Chemical Co., Ltd. (China)
  • Shandong Huayuan Chemical Co., Ltd. (China)
  • LCY Chemical Corp. (Taiwan)
  • Feno Resinas S.A. (Brazil)
  • Merck KGaA (Germany)
  • Chemanol (Saudi Arabia)
  • Nantong Jinzhiyuan Chemical Co., Ltd. (China)
  • Simalin Chemical Industries Pvt. Ltd. (India)
  • Alder S.p.A. (Italy)
  • Synthite Industries Ltd. (India)
  • Changzhou Xiaqiang Chemical Co., Ltd. (China)
  • Simalin Chemicals Industries Limited (Kenya)
  • Linyi Ruifeng Chemical Co., Ltd. (China)
  • Yantai Top Chemical Co., Ltd. (China)

Paraformaldehyde Market Recent Developments

  • In April 2023, Global Chemical Solutions unveiled a novel application of paraformaldehyde in the agricultural sector. The company introduces a bio-based fertilizer formulation containing paraformaldehyde, which enhances nutrient uptake and improves crop yield.
  • In May 2023, Innovative Materials Inc. launched a range of paraformaldehyde-based adhesives and resins with superior bonding strength and durability.
  • In June 2023, Sustainable Solutions Ltd. introduced a bio-based paraformaldehyde alternative derived from renewable resources.

Paraformaldehyde Key Market Trends

  • One key market trend in the global market is the growing demand for paraformaldehyde as a key raw material in various industries. Paraformaldehyde is extensively used in the production of resins, adhesives, plastics, and agrochemicals. The increasing use of paraformaldehyde in the manufacturing of resins for the wood industry, such as particleboard and medium-density fiberboard (MDF), is driving market growth.

Paraformaldehyde Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

The paraformaldehyde market is witnessing significant growth due to its diverse applications across various industries. The market is driven by the expanding agricultural sector and the need for effective pesticides and herbicides are fueling the demand for paraformaldehyde-based agrochemicals. Moreover, the rising emphasis on sustainable practices and the development of eco-friendly products have led to the adoption of paraformaldehyde as a safer alternative in various applications.

Report Metric Details
Market size value in 2023 USD 1.73 billion
Market size value in 2031 USD 2.8 billion
Growth Rate 5.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Testing
    • Purity Testing type and Particle Size Analysis
  • Application
    • Resin Production and Agrochemicals
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Celanese Corporation (United States)
  • INEOS Group Holdings S.A. (Switzerland)
  • Shandong Shuangqi Chemical Co., Ltd. (China)
  • Ercros S.A. (Spain)
  • Changzhou Chemistar Chemistry Technology Co., Ltd. (China)
  • Nantong Jiangtian Chemical Co., Ltd. (China)
  • Shouguang Xudong Chemical Co., Ltd. (China)
  • Shandong Huayuan Chemical Co., Ltd. (China)
  • LCY Chemical Corp. (Taiwan)
  • Feno Resinas S.A. (Brazil)
  • Merck KGaA (Germany)
  • Chemanol (Saudi Arabia)
  • Nantong Jinzhiyuan Chemical Co., Ltd. (China)
  • Simalin Chemical Industries Pvt. Ltd. (India)
  • Alder S.p.A. (Italy)
  • Synthite Industries Ltd. (India)
  • Changzhou Xiaqiang Chemical Co., Ltd. (China)
  • Simalin Chemicals Industries Limited (Kenya)
  • Linyi Ruifeng Chemical Co., Ltd. (China)
  • Yantai Top Chemical Co., Ltd. (China)
Customization scope

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  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Paraformaldehyde Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Paraformaldehyde Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Paraformaldehyde Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Paraformaldehyde Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Paraformaldehyde Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Paraformaldehyde Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Paraformaldehyde Market size was valued at USD 1.73 billion in 2021 and is poised to grow from USD 1.82 billion in 2022 to USD 2.8 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

The paraformaldehyde market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of paraformaldehyde. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Celanese Corporation (United States)', 'INEOS Group Holdings S.A. (Switzerland)', 'Shandong Shuangqi Chemical Co., Ltd. (China)', 'Ercros S.A. (Spain)', 'Changzhou Chemistar Chemistry Technology Co., Ltd. (China)', 'Nantong Jiangtian Chemical Co., Ltd. (China)', 'Shouguang Xudong Chemical Co., Ltd. (China)', 'Shandong Huayuan Chemical Co., Ltd. (China)', 'LCY Chemical Corp. (Taiwan)', 'Feno Resinas S.A. (Brazil)', 'Merck KGaA (Germany)', 'Chemanol (Saudi Arabia)', 'Nantong Jinzhiyuan Chemical Co., Ltd. (China)', 'Simalin Chemical Industries Pvt. Ltd. (India)', 'Alder S.p.A. (Italy)', 'Synthite Industries Ltd. (India)', 'Changzhou Xiaqiang Chemical Co., Ltd. (China)', 'Simalin Chemicals Industries Limited (Kenya)', 'Linyi Ruifeng Chemical Co., Ltd. (China)', 'Yantai Top Chemical Co., Ltd. (China)'

One driver of the market is the increasing demand from various end-use industries such as plastics, resins, pharmaceuticals, and agrochemicals. Paraformaldehyde is a key raw material in the production of resins and plastics, which are widely used in automotive, construction, and packaging industries. The growth in these industries, coupled with the rising need for durable and lightweight materials, drives the demand for paraformaldehyde.

One key market trend in the market is the growing demand for paraformaldehyde as a key raw material in various industries. Paraformaldehyde is extensively used in the production of resins, adhesives, plastics, and agrochemicals. The increasing use of paraformaldehyde in the manufacturing of resins for the wood industry, such as particleboard and medium-density fiberboard (MDF), is driving market growth.

One dominant region in the paraformaldehyde market is Asia Pacific. The region is characterized by a large presence of chemical manufacturing industries, particularly in countries like China and India. These countries have a strong demand for paraformaldehyde due to its wide range of applications in various industries such as plastics, resins, pharmaceuticals, and agriculture. The increasing population, rapid industrialization, and economic growth in Asia Pacific are driving the demand for paraformaldehyde in the region.

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Global Paraformaldehyde Market

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