LONDON--(BUSINESS WIRE)--The global formaldehyde market size is expected to grow by 7.56 million tons during 2020-2024, progressing at a CAGR of almost 6% during the forecast period.
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The growth in the construction industry is one of the major factors propelling the market growth. However, factors such as the fluctuating prices of methanol will hamper market growth.
The production rate of resins such as phenol-formaldehyde, melamine-formaldehyde, and urea-formaldehyde are high in the construction industry. This results in an increased demand for formaldehyde as they are extensively used in the production of resins. Moreover, the construction industry is witnessing growth due to various factors such as increasing disposable income, emerging economies, and growing population. This will further boost the adoption of formaldehyde in this industry. Formaldehyde market analysis identifies that the growth in the construction industry will be one of the major factors that will have a positive impact on the formaldehyde market.
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Global Formaldehyde Market: End-user Landscape
The formaldehyde market is witnessing growth in the construction and furniture segment and is expected to grow in this segment throughout the predicted period due to the rising spending on construction activities, growing demand for formaldehyde, and the growing opportunities in the residential construction segment.
Global Formaldehyde Market: Geographic Landscape
APAC was the largest formaldehyde market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The availability of large production capacities for formaldehyde and high consumption of formaldehyde will significantly drive formaldehyde market growth in this region over the forecast period. 70% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for formaldehyde in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America.
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Companies Covered
- Akzo Nobel NV
- Ashland Global Holdings Inc.
- BASF SE
- Celanese Corp.
- Dynea AS
- Ercros SA
- Hexion Inc.
- INEOS Group Holdings SA
- Koch Industries Inc.
- LANXESS AG
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Formaldehyde Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in formaldehyde market growth during the next five years
- Estimation of the formaldehyde market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the formaldehyde market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of formaldehyde market, vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Construction and furniture - Market size and forecast 2019-2024
- Automotive - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Derivatives
- Market segments
- Comparison by Derivatives
- Urea formaldehyde - Market size and forecast 2019-2024
- Phenol formaldehyde - Market size and forecast 2019-2024
- Melamine formaldehyde - Market size and forecast 2019-2024
- Polyoxymethylene - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Other1
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Akzo Nobel NV
- Ashland Global Holdings Inc.
- BASF SE
- Celanese Corp.
- Dynea AS
- Ercros SA
- Hexion Inc.
- INEOS Group Holdings SA
- Koch Industries Inc.
- LANXESS AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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