The article is about the global Paraformaldehyde (PFA) Market and its growth prospects in the coming years. Paraformaldehyde is a white crystalline powder used in the production of resins, pesticides, pharmaceuticals, and other chemicals. The report highlights the key drivers, restraints, opportunities, and challenges faced by the market and provides a detailed analysis of the market's structure, scope, and growth potential.
According to the report, the global Paraformaldehyde (PFA) market was valued at USD 552.6 million in 2020 and is expected to reach USD 899.2 million by 2028, growing at a CAGR of 6.1% during the forecast period (2021-2028). The report covers the market analysis of North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The report identifies the increasing demand for PFA in the production of thermosetting resins and other chemicals as a key factor driving the market's growth. The growth in the construction industry, especially in emerging economies, is also expected to drive market growth as PFA is used in the production of wood adhesives, coatings, and laminates. However, the high cost of production, health hazards associated with the use of PFA, and availability of substitutes are some of the major challenges faced by the market.
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Top Lading Players:
- Alfa Aesar
- Alpha Chemika
- Caldic
- Celanese
- Chemanol
- Ekta International
- Merck
- Yinhe Chemical
- Interatlas Chemical Inc.
- Hebei Yuhang Chemical Industry Co., Ltd.
- Nantong Jiangtian Chemical Co., Ltd.
- Jinan Xiangrui Chemical Co., Ltd.
- Stormmax ASSP Ltd.
- Chemicals Factory
- GFS Chemical
- Shanghai Orgpharma Chemical Co., Ltd.
- Changzhou Koye Chemical Co., Ltd.
- Linyi Ruifeng Machinery Co., Ltd.
- Asia Chemical Company
- Pure Chemistry Scientific Inc.
- Tianjin Yuanlong Chemical Industry Co.
The demand for paraformaldehyde is driven by several factors:
Chemical and Pharmaceutical Industries: Paraformaldehyde is used as a chemical intermediate in the production of various chemicals, such as resins, plastics, dyes, agrochemicals, and pharmaceuticals. It is particularly used in the production of formaldehyde-based resins, such as urea-formaldehyde resins, phenol-formaldehyde resins, and melamine-formaldehyde resins, which find applications in wood-based products, automotive parts, construction materials, and coatings.
Disinfection and Biocides: Paraformaldehyde is a potent disinfectant and is used in various applications where microbial control is crucial. It is used for sterilization and fumigation purposes, such as in the healthcare industry, laboratories, and food processing facilities. Paraformaldehyde-based products are also used as biocides in water treatment and preservation of agricultural products.
Animal Feed Additives: In some regions, paraformaldehyde is used as an animal feed additive to control microbial contamination and improve feed hygiene. It helps prevent the growth of mold, fungi, and bacteria, thereby enhancing animal health and productivity.
Other Applications: Paraformaldehyde is also used in the production of certain explosives, as a fixing agent in the textile industry, and as a preservative for biological specimens in laboratories.
The demand for paraformaldehyde is influenced by economic growth, industrial activities, and trends in various end-use industries. It is also subject to regulations and safety considerations due to its potential health hazards and environmental impact.
Segments covered in the report:
Purity Outlook (Revenue, USD Billion; 2019-2030)
- 91%-93%
- 95%-97%
Application Outlook (Revenue, USD Billion; 2019-2030)
- Resins
- Agrochemicals
- Medical
- Photographic films
- Papermaking
- Paints Coatings
- Oil field chemicals
- Lubricant additives
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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