Paraformaldehyde market Market by Application, Product Growth over 2016-2024

Europe has always been an established automobile market with major giants such as SKODA AUTO a.s. and Volkswagen AG. Resins are used in vehicle manufacturing in adhesives, bearing, and molding compounds.

Global Paraformaldehyde Market is likely to surpass a valuation of USD 800 million by the end of 2024, with an estimated CAGR of 6% over the period of 2016-2024. The forecast figure is almost double than that what was recorded in 2015 (approx. USD 493 million), which is deemed to be a positive indicator for the expansion of the market across various topographies.

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Reasons to Buy This Report:

1. Paraformaldehyde Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Paraformaldehyde Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles

The differentiating factor of Paraformaldehyde Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook.

Paraformaldehyde market has always been one of the most arguable business fraternities, subject to its regulations driven landscape. The industry space is characterized by a strong regulatory framework and extensive research activities, which is not only for widening its application horizon but also to acquire enough evidences to check its viability with regards to human exposure.

Speaking of paraformaldehyde market commercialization, a sizable chunk is procured by pharmaceutical sector as a specialty disinfectant. In fact, statistics estimate, overall paraformaldehyde industry from medical applications had a volume coverage of almost 26 kilotons in 2015.

However, in this regard, it is prudent to note that recently the European Union has identified formaldehyde as Class 1B carcinogen. The approval opinion reportedly also stated that any form of formaldehyde usage must be prescribed by skilled professionals. Being identified as a substance of concern by authentic regulatory organizations like the European Union is a serious concern paraformaldehyde market giants are dealing with, pertaining to the fact that it may limit the product deployment in the laboratories.

North America has been one of the most outpacing regions partaking in the paraformaldehyde market, having held a revenue of USD 85.4 million in 2015. The expanding agrochemical market has a key role to play in the development of the regional market. The United States stands as a major revenue pocket

Having covered almost 55% of the overall paraformaldehyde industry share in 2015, APAC procured a major portion of the business landscape. Robust construction activities across emerging economies are propelling the product demand in this belt.

The automotive industry is witnessing consistent proliferation across Europe, a prime ground enhancing the regional paraformaldehyde market outlook. The continent is home to various auto giants like Volkswagen, Skoda Auto

Some of the significant manufacturers in paraformaldehyde market are Tianjin Yuanlong Chemical Industry Co, Ltd., Zibo Qingxin Chemicals Factory, Oswal Udhyog, Pure Chemistry Scientific, Inc., Asia Chemical Company, Stormmax ASSP Ltd, Caldic, Linyi Ruifeng Machinery Co., Ltd., Changzhou Koye Chemical Co Ltd., Nantong Jiangtian Chemical Co Ltd., and Inter Atlas Chemical.

Other considerable producers in paraformaldehyde market include Hebei Yuhang Chemical Industry Co, Ltd., Ekta International, Inter Atlas Chemical, GFS Chemicals, Jinan Haohua Industry Co, Ltd., Jinan Xiangrui Chemical Co., Ltd., Alpha Chemika, Shanghai Orgpharma Chemical Co., Ltd., Parchem, Thana Acid, and Alfa Aesar

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About Global Market Insights, Inc. Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.