Paraformaldehyde Market Future-Ready Formulas A Guide to Market Size Strategies for Business Resilience

Paraformaldehyde Market Outlook

Rise in need for paraformaldehyde to synthesize disinfectants, fixatives, fumigants, and fungicides has boosted the growth of the global paraformaldehyde market

The increasing demand for paraformaldehyde in the synthesis of disinfectants, fixatives, fumigants, and fungicides is a primary driver of market growth. ”

— David Correa

WILMINGTON, DELAWARE, UNITED STATES, March 20, 2024 /EINPresswire.com/ — The “Paraformaldehyde Market by Application (Resins, Agrochemicals, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030″ report by Allied Market Research indicates significant growth projections for the global paraformaldehyde industry. In 2020, the market was valued at $1.6 billion and is anticipated to reach $2.8 billion by 2030, with a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030.

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Key Growth Drivers:

The increasing demand for paraformaldehyde in the synthesis of disinfectants, fixatives, fumigants, and fungicides is a primary driver of market growth. However, concerns regarding the health effects of paraformaldehyde present a challenge. Yet, the market is expected to benefit from the growing preference for organic chemical synthesis, as well as applications in printing, photography, fertilizers, and fluorescent light products.

COVID-19 Impact:

The COVID-19 pandemic disrupted the paraformaldehyde market due to shortages of skilled laborers and raw materials, particularly affecting the manufacturing of gas, oil, and related products. Nevertheless, as global recovery efforts progress, the market is poised to rebound.

Segment Analysis:

The medical segment is forecasted to experience the highest CAGR of 6.2% through 2030, driven by increased demand for paraformaldehyde as a medical disinfectant in the pharmaceutical sector.

In 2020, the agrochemicals segment dominated the market, holding over two-fifths of the global share, attributable to population growth and the preference for staple crops, along with demand for higher quality agricultural products.

Regional Insights:

Asia-Pacific, led by China’s paraformaldehyde production, held the largest market share in 2020, followed by North America. However, the LAMEA region is expected to exhibit the fastest CAGR of 6.6% during the forecast period, driven by increased production of laminates, pentaerythritol, MDI, and wood panels.
Key Market Players:

Major players in the global paraformaldehyde market include Alpha Chemika, Merck, Caldic, Celanese, Alfa Aesar, Yinhe Chemical, Ekta International, Ercros, Chemanol, and 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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Allied Market Research
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Originally published at https://www.einpresswire.com/article/697339303/paraformaldehyde-market-future-ready-formulas-a-guide-to-market-size-strategies-for-business-resilience

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