Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Paraformaldehyde Market size is expected to grow at ~802.8523374 million by 2023. The market witnessed a significant growth over the forecasted period owing to growing end user industries such as plastic industry, pharmaceutical, agrochemical, and others.
Paraformaldehyde is a low molecular polycondensation, white crystalline compound of methylene glycol with the nature of formaldehyde formed by polymerization of methanol by heating.
The major industries of paraformaldehyde are production of plastics and agrochemicals. It is used in various industries such as paint, medicines and in production of other chemicals compounds. It is used in the manufacturing of various products such as resins, paper, leather, pesticides, rubber and plastics.
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Paraformaldehyde is a white crystalline, low molecular polycondensation compound of methylene glycol with the nature of formaldehyde formed by polymerization of methanol by heating.
Paraformaldehyde used in various industries such as plastic industry, pharmaceutical, agrochemical, and others. Paraformaldehyde is used in the agrochemicals industry in production of herbicides, acetochlor, machete, butachlor, and bismerthiazol, pesticides, glyphosate and others. Paraformaldehyde in pharmaceutical is used for hygienic disinfection. Furthermore, paraformaldehyde is used for antisepsis support. Other applications of paraformaldehyde include manufacturing of rubber, photographic films, leather, paint & coatings and plastics.
Key players of the global Paraformaldehyde market are
- INEOS Group AG (Switzerland),
- Celanese Corp. (US),
- Alfa Aesar (US),
- Inter Atlas Chemica (UK),
- LCY Chemical Corp. (Taiwan),
- CHEMANOL (SA),
- Nantong Jiangtian Chemicals Co. Ltd. (China),
- Shouguang Xudong Chemical Co Ltd (China),
- Alder S.p.A (Europe),
- Shandong Tuobo Plastics Products Co., Ltd. (China),
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North America including the countries such as USA, Canada and Mexico stands on second position due to increasing demand in various end user industry such as synthesis of acetochlor, butachlor, and glyphosate, produce vitamin A, synthesis of high grade automobile paint.
Europe holds third position in global paraformaldehyde market
The third largest market of paraformaldehyde is Europe, witnessed in growth of paraformaldehyde market due to various application such automotive, construction and sporting goods countries like Germany, France, UK, Italy, Spain, Netherland, Poland, and rest of Europe. Latin America and Middle East also witnessed in growth of paraformaldehyde market due to various end user industry such as plastic industry, pharmaceutical, agrochemical, and others including the countries like UAE, South Africa, Saudi Arabia and rest of Middle East & Africa.
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