According to a new market report published by Lucintel, the future of the formaldehyde market looks promising with opportunities in the construction, automotive, cosmetics, and furniture. The global formaldehyde market is expected to grow with a CAGR of 3% from 2020 to 2025. The major drivers for this market are increasing consumer awareness, growth in the building and construction industry, and growing demand from furniture sector.
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In this market, Urea Formaldehyde (UF) resins, Phenol-Formaldehyde (PF) resins, MF resins, polyacetal resins, 1,4-butanediol, pentaerythritol, and methylenebis are the major derivative types. Lucintel forecasts that phenol-formaldehyde (PF) resins will remain the largest segment over the forecast period because of its high demand and consumption rate for laminate, plywood, and wood processing.
Within this market, fibers, solvents, plasticizers, drying agents, resins, and other chemical intermediaries are the major application of formaldehyde. Resin will remain the largest segment by application type over the forecast period because formaldehyde-based resins are used in the textile industry to help binding of dyes and pigments to fabrics and prevent colors from running when clothes are washed.
Asia-Pacific is expected to witness the highest growth over the forecast period because of the growing population, expanding middle class, and increasing disposable income of consumers across the region is expected to drive the building and construction sector.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global formaldehyde market by derivative type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Formaldehyde Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global formaldehyde market by derivative type, application, and region as follows:
By Derivative Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Urea Formaldehyde (UF) resins
Phenol-Formaldehyde (PF) resins
MF resins
Polyacetal resins
1,4-butanediol
Pentaerythrito
Methylenebis
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Fibers
Solvents
Plasticizers
Drying agents
Resins
Other chemical intermediaries
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Germany
France
Italy
Russia
Spain
China
Japan
India
South Korea
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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