Nov 8, 2022   SOURCE: BusinessWire

Formaldehyde Global Market Report 2022: Featuring Celanese, Perstorp Holding, BASF, Georgia-Pacific & Alder - ResearchAndMarkets.com

The "Formaldehyde Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global formaldehyde market is expected to grow from $18.44 billion in 2021 to $19.64 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The formaldehyde market is expected to grow to $25.14 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%.

The main types of formaldehyde are urea-formaldehyde, phenol-formaldehyde, melamine-formaldehyde, polyoxymethylene, and other types. Urea-formaldehyde refers to a synthetic resin that is made by the process of condensation between urea and formaldehyde that is used mainly for wood-bonding adhesives, colored molded articles, and others. There are various applications for formaldehyde such as resins, fibers, solvents, plasticizers, drying agents, and other chemical intermediates. These are used by various end-users such as in construction furniture, automotive, healthcare, and other end-users.

Asia Pacific was the largest region in the formaldehyde market in 2021. The regions covered in the formaldehyde market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Growing demand from the construction industry is expected to propel the growth of the formaldehyde market going forward. Construction refers to the process of building, altering, repairing, remodeling, improving, or demolishing any structures. Formaldehyde helps the construction industry in the manufacturing of glues, resins, and other construction materials.

For instance, according to Oxford Economics, a UK-based company that provides global economic forecasting, quantitative analysis, and thought leadership for business and government, published in a report Global Construction 2030, the volume of construction output is expected to grow by 85% by 2030. Therefore, the growing demand from the construction industry is driving the growth of the formaldehyde market.

Advancements in paint technology have emerged as a key trend gaining popularity in the formaldehyde market. Major companies operating in the formaldehyde market are coming up with and using new paint technologies to sustain their position in the market. For instance, in February 2021, Teknos, a Finland-based paint, and coating solution provider operating in the formaldehyde market launched two indoor air purifying paints named BIORA AIR, and BIORA AIR CEILING, which uses the unique technology of aldehyde-binding, in which the paint absorbs and neutralizes aldehydes from indoor air.

In May 2022, Bakelite Synthetics, a US-based formaldehyde network operator completed the acquisition of Georgia-Pacific Chemicals for an undisclosed amount. Through this acquisition, Bakelite Synthetics is expecting to give complementary resin and new formaldehyde technology to various end markets and can deliver greater service to their customers and expand their business to other geographic regions. Georgia-Pacific Chemicals LLC is a US-based chemical manufacturer and marketer operating in the formaldehyde market.

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Scope

Markets Covered:

1) By Type: Urea Formaldehyde; Phenol Formaldehyde; Melamine Formaldehyde; Polyoxymethylene; Other Types

2) By Application: Resins; Fibers; Solvents; Plasticizers; Drying Agents; Other Chemical Intermediates

3) By End-User: Construction; Furniture; Automotive; Healthcare; Other End-Users

Key Topics Covered:

1. Executive Summary

2. Formaldehyde Market Characteristics

3. Formaldehyde Market Trends And Strategies

4. Impact Of COVID-19 On Formaldehyde

5. Formaldehyde Market Size And Growth

6. Formaldehyde Market Segmentation

7. Formaldehyde Market Regional And Country Analysis

8. Asia-Pacific Formaldehyde Market

9. China Formaldehyde Market

10. India Formaldehyde Market

11. Japan Formaldehyde Market

12. Australia Formaldehyde Market

13. Indonesia Formaldehyde Market

14. South Korea Formaldehyde Market

15. Western Europe Formaldehyde Market

16. UK Formaldehyde Market

17. Germany Formaldehyde Market

18. France Formaldehyde Market

19. Eastern Europe Formaldehyde Market

20. Russia Formaldehyde Market

21. North America Formaldehyde Market

22. USA Formaldehyde Market

23. South America Formaldehyde Market

24. Brazil Formaldehyde Market

25. Middle East Formaldehyde Market

26. Africa Formaldehyde Market

27. Formaldehyde Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Formaldehyde Market

29. Formaldehyde Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

  • Celanese Corporation
  • Perstorp Holding AB
  • BASF SE
  • Georgia-Pacific Chemicals LLC
  • Alder S.p.A

For more information about this report visit https://www.researchandmarkets.com/r/8ccafe