Paraformaldehyde Market Share | dynamics, industry analysis, Industry verticles, major challenges, opportunities and forecast 2027
Overview
The mounting product volumes of paraformaldehyde are encouraging
the market’s development. Reports that assess the chemicals and material
industry have been presented by Market Research Future, which creates reports
on numerous industry verticals that examine the market progress and forecasts.
The market is poised to attain earnings worth 802.85 Million by 2023 while
increasing with a CAGR of 6.2 % in the approaching years.
The application of paraformaldehyde share as a resin is expected
to bolster the market growth in the forecast period. The elevated demand level
being observed from the plastic industry, pharmaceutical, and agrochemical
industry is expected to boost the progress of the paraformaldehyde market in
the coming years.
Segmental Analysis
The segmental assessment of the paraformaldehyde market share is
segmented on the basis of end-user and region. The end user segment of the
paraformaldehyde market comprises of pharmaceutical, plastic industry,
agrochemical, and others. The plastic and agrochemicals industries comprise of
applications such as resins and herbicides continue to be the uppermost end-use
applications of paraformaldehyde in countries such as China and the United
States. Most paraformaldehyde used by the agrochemicals industry is for the herbicides
such as butachlor, bismerthiazol acetochlor, and glyphosate. On the basis of
regions, the paraformaldehyde market is segmented into Europe, North America,
APAC, Middle East & Africa and Latin America.
Competitive Analysis
The conception of prodigious competitive advantages is likely to
support the progress of the market. The surge in the market is credited to the
presence of favorable market forces are expected to complement the development
of the market. The positive reinforcement of the forces of demand and supply is
expected to lift the market growth in the coming years. The synergies achieved
in the manufacturing of the goods in the market are enhanced, leading to better
growth prospects. The availability of productive resources is expected to further
the progress of the market in the forecast period. The increased transaction
level in the market is expected to spur an accelerated level of growth in the
market. A considerable ascension in the number of promoters in the market is
estimated to form a beneficial outlook for market growth in the projected
period. The relaxation of the barriers to the entry of new players in the
market is expected to encourage the expansion of the market in the impending
years.
The significant players of the Paraformaldehyde Market
Share are Celanese Corp. (US), Alfa Aesar (US), Alder S.p.A
(Europe), Inter Atlas Chemica (UK), LCY Chemical Corp. (Taiwan), INEOS Group AG
(Switzerland), CHEMANOL (SA), Shouguang Xudong Chemical Co Ltd (China), Nantong
Jiangtian Chemicals Co. Ltd. (China), Shandong Tuobo Plastics Products Co.,
Ltd. (China), and others.
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Detailed Regional Analysis
The regional examination of the paraformaldehyde market covers
regions such as Europe, APAC, North America, Middle East & Africa, and
Latin America. The Asia Pacific region is the fastest expanding market and is
likely to develop during the forecast period. The factors influencing its
growth are the consumption and production of paraformaldehyde in emerging
economies. In China, the growing demand for the plastic and agrochemical
industries are the core drivers of the paraformaldehyde market. The North
American region is the subsequent major regional market and is anticipated to
observe a significant rise related to the growth in pharmaceutical and plastic
industries shadowed by the European region due to progress in the technology in
the plastic industry. The Middle East and Latin American region are
additionally expected to observe slow growth due to amplified production of
rubber, papermaking, plastics, and leather throughout the forecast period.
Industry Updates:
April 2019 Prefere Resins Holding GmbH is buying INEOS
Melamines and Paraform in the coming months. The agreement is expected to cover
sites in the US, Germany, and Indonesia. INEOS Paraform is Europe’s next chief
manufacturer of paraformaldehyde.
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