Global Formalin Market Report to Reach $11.7 Billion by 2030
Global Formalin Market
Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The "Formalin Market by Percentage and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global formalin market size was valued at $6.9 billion in 2020, and is projected to reach $11.7 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
The formalin industry is benefiting from an increase in the use of adhesives due to the rising demand for wooden furniture, hardwood floors, and a range of other things that need adhesives. Formalin usage has increased as a result of the extensive use of adhesives to produce perfect furniture. The expansion of the fertilizer industry has also driven the demand for formalin as a result of rise in food consumption around the world, which needs the use of more fertilizers. However several nations, like India and Bangladesh, have enforced strict restrictions on the manufacture and use of formalin, hindering the global expansion of the formalin market.
Market Dynamics
Drivers
Increase in the usage of adhesives
Increased application of formalin
Restraints
Government regulations on usage and manufacturing of formalin
Opportunities
Surge in demand for formalin from agricultural industry
KEY MARKET SEGMENTS
By Percentage
1.0%-20.0%
20.0%-40.0%
40.0%-60.0
By Application
Automotive
Drugs
Dyes
Fertilizer
Antiseptic Perfume
Rubber Chemicals
Other
By Region
KEY MARKET PLAYERS
BASF SE
3M
Balaji Formalin Private Limited
Bayer AG
Celanese Corporation
DuPont
Dynea AS
Georgia-Pacific Chemicals
Huntsman International LLC
Merck KGaA
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: FORMALIN MARKET, BY PERCENTAGE
CHAPTER 5: FORMALIN MARKET, BY END-USE INDUSRY
CHAPTER 6: FORMALIN MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/1wgnxh
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