Paraformaldehyde Market Size

Paraformaldehyde Market Size

Paraformaldehyde Market size was USD 904.3 million in 2020 and will grow at a CAGR of 5.7% from 2021 to 2027. The market it anticipated to hit 5.2% CAGR in terms of volume to reach 1,121.2 Kilo tons through the forecast period. The growing use of chemical fertilizers for effective crop growth and increasing usage of consumer products, personal care products, cleaning products, fluorescent lighting, photography & printing, medicine, fertilizers, and organic chemical synthesis will drive the market growth.

Paraformaldehyde is used in the manufacturing of various agricultural chemicals such as herbicides, pesticides, bactericides, fertilizers, etc. Paraformaldehyde OH(CH2O)-nH is a white crystalline solid, which is formed during formaldehyde polymerization. It produces a white precipitate in an aqueous formaldehyde solution and a little amount of methanol is often added as a stabilizer to limit the degree of polymerization.

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Polyoxymethylene, an alternative name for paraformaldehyde, is insoluble in water, ether, and alcohol but soluble in alkaline solutions. It has an odor similar to formaldehyde, i.e., it has a pungent smell. It is available in various purity forms and the higher the purity of the paraformaldehyde, the more expensive it will be. High molecular weight homopolymers are strong & tough and can retain heat, solvents &moisture well.
 

Paraformaldehyde is used to synthesize various resins based on phenol such as vinyl, diphenylmethane diisocyanate, polyacetal resin terephthalic acid, melamine resin, and acrylate. In addition, it has recently been used to synthesize pesticides such as acetochlor, butachlor, and glyphosate. It can also be used in the production of vitamin A and synthesis of paints & topcoats for high-quality automotive finishes.
 

The industry will be propelled by the growing demand for thermosetting resins such as urea, phenol, resorcinol, melamine, etc. These resins are used in multi-purpose industries such as wood, papermaking, plastics, paint and coatings, and others. In addition, due to the surging population and consumer preference for staple crops, the demand for higher quality and more quantitative products is expected to increase the demand for agrochemicals, which in turn, leads to significant growth in paraformaldehyde market.
 

The availability of different substitutes will also influence the paraformaldehyde market share. Paraformaldehyde is used in various end-use industries, such as agriculture, resin, and medical applications, among others, as an organic raw material to manufacture various products. Dialdehyde glyoxal can replace paraformaldehyde for immunostaining of cells. Dialdehyde glyoxal is also less toxic than paraformaldehyde, acts faster than PFA, cross?links proteins more effectively, and improves the preservation of cellular morphology. Despite the availability of different types of substitutes, the market is growing owing to its unique properties such as high yield, better immunostaining, and lower cost.