Home > Chemicals & Materials > Specialty Chemicals > Formaldehyde Market

Formaldehyde Market Trends

Report ID: GMI3751
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Formaldehyde Market Trends

The formaldehyde industry is propelled by the rising adoption of bio-based and renewable methanol, reflecting a shift towards sustainable production practices. Also, heightened awareness and efforts to mitigate the health risks associated with formaldehyde exposure drive demand for low-emission alternatives. These trends align with stringent regulatory standards and cater to consumer preferences for safer, environmentally friendly products, thereby stimulating market expansion and innovation in formaldehyde applications.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of formaldehyde was crossed USD 4.32 billion in 2023 and is expected to register 3.2% CAGR from 2024 to 2032, owing to the innovations in resin technology and the extensive use of formaldehyde in various industrial processes and chemical manufacturing worldwide.

Formaldehyde industry from the UF resins segment is expected to reach USD 2.37 billion by 2032, due to its versatility and sustainable attributes and being widely used in wood-based panels, laminates, and textiles.

Asia Pacific formaldehyde industry is expected to register 3.7% CAGR from 2024 to 2032, due to robust industrial growth and increasing urbanization and the thriving construction, automotive, and furniture sectors in the region.

BASF SE, Balaji Formalin, Perstorp, Chemique Adhesives, Hexion Inc., Celanese Corporation, Foremark Performance Chemicals, Ercros S.A, Methanol Chemicals Company, LyondellBasell, Alder S.p.A, and Prefere Resins Holding GmbH, are some of the major formaldehyde companies worldwide.