LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global paraformaldehyde market report. This research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
Paraformaldehyde is obtained by the polymerization of formaldehyde. It is a white crystalline solid. Though it is a soluble alkali, it is insoluble in alcohol, ether, and water. It has the odor of formaldehyde because of decomposition. Paraformaldehyde is generally prepared with purity concentration of 91% or 93% by weight. Paraformaldehyde is used in a variety of applications. Agrochemicals and resins are the key drivers of the market. They are used in the production of resins such as ion exchange resins and melamine resins.
The shipping industry was stagnant in the past but has been registering growth in the past few years. There is an increasing demand for power boats, sail boats, cruise ships, and speed boats, which has led to an increase in marine traffic. In 2016, the world commercial fleet comprised more than 90,000 vessels. The high demand for power boats, sail boats, and others will drive the demand for resins.
Competitive vendor landscape
“The market is characterized by dedicated vendors engaged in the production of paraformaldehyde. Increasing growth rate of the market will attract new vendors. The threat of rivalry is currently moderate but can increase in the coming years. A majority of the vendors are located in APAC, especially in China,” says Shakeel Iqbal, a lead specialty chemicals research analyst from Technavio.
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Top five paraformaldehyde market vendors
Celanese
Celanese manufactures intermediate chemicals, cellulose derivatives, emulsion polymers, ethylene vinyl acetate (EVA) polymers, food ingredients, and engineered materials. It offers products to industries such as adhesives, agriculture, building and construction, consumer goods, food and beverage (F&B), medical and pharma, oil, gas and mining, personal care and cosmetics, and textiles.
Chemanol
Chemanol is also known as Methanol Chemicals Company. It manufactures premium grade methanol derivatives, formaldehyde derivatives, super plasticizers, and various amino resins. The products are used in applications such as agricultural fertilizers, pharmaceuticals, paper manufacturing, and production of various types of concrete.
Ercros
Ercros operates in three business segments: chlorine derivatives, intermediate chemicals, and pharmaceuticals. The intermediate chemicals division is the second highest contributor to the company's revenue. In 2016, the segment generated revenues worth USD 178.67 million.
INEOS
Ineos Paraform is one of the several business units of the company. The production site is located at Mainz, Germany. The production unit serves the merchant market and manufactures formaldehyde derivatives, paraformaldehyde, hexamine, and dimethoxymethane.
PT. Dover Chemical
PT. Dover Chemical manufactures formaldehyde, formaldehyde resins, and adhesives. The company offers paraformaldehyde in the powder form. Thus, it has higher consistency and solubility than granules and flakes.
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