Paraformaldehyde Market Overview Key Insights and Developments for 2030
Paraformaldehyde Market Key Insights
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /EINPresswire.com/ -- Paraformaldehyde Market by Application (Resins, Agrochemicals, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
Publisher: Allied Market Research
Market Size in 2020: $1.6 billion
Projected Market Size by 2030: $2.8 billion
CAGR (2021-2030): 5.5%
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Key Factors Driving Market Growth:
Increasing Demand for Paraformaldehyde:
- Used in the synthesis of disinfectants, fixatives, fumigants, and fungicides.
- Growing need for hygienic and medical disinfectors, particularly in the medical and pharmaceutical sectors.
Challenges:
- Health concerns related to paraformaldehyde exposure.
Emerging Opportunities:
- Expanding use in organic chemical synthesis.
- Rising applications in printing and photography, fertilizers, and fluorescent light products.
Market Segmentation and Growth:
Application Segments:
- Medical Segment: Expected to achieve the highest CAGR of 6.2% from 2021 to 2030 due to increased demand in the medical and pharmaceutical sectors.
- Agrochemicals Segment: Dominated the market in 2020, with more than 40% market share, driven by the rising population and demand for high-quality agricultural products.
Geographical Insights:
- Asia-Pacific and North America: Held the largest market share in 2020, accounting for nearly 60% of the global market, largely due to robust production in China.
- LAMEA Region: Projected to experience the fastest growth, with a CAGR of 6.6%, attributed to the rising production of laminates, pentaerythritol, MDI, and wood panels.
Leading Market Players:
- Alpha Chemika
- Merck
- Caldic
- Celanese
- Alfa Aesar
- Yinhe Chemical
- Ekta International
- Ercros
- Chemanol
- Jinan Xiangrui Chemical Co., Ltd.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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