Global Formaldehyde Market is expected to reach USD 21.03
billion by 2020, according to a new
study by Grand View Research Inc. Growth in furniture and construction industry
along with increasing concentration in Asia Pacific is expected to be a key
driver for the market over the next six years. Fluctuating raw material prices
coupled with the increasing consumer awareness regarding harmful effects of
formaldehyde is expected to be a major challenge for the market over the forecast
period. In addition, stringent environmental regulations, imposed by REACH on
formaldehyde emissions from wood products are expected to further hinder the
growth of the market.
Full Research Report on Global Formaldehyde Market
Analysis:
http://www.grandviewresearch.com/industry-analysis/formaldehyde-market
http://www.grandviewresearch.com/industry-analysis/formaldehyde-market
Further key findings from the study suggest:
- UF Resins dominated the application
market in terms of revenue and volume, accounting for over 39% of global
market volume in 2013. PF resins are expected to be fastest growing
application segment, at an estimated CAGR of 7.1 % from 2014 to 2020.
Growing consumption of phenol formaldehyde in automotive and construction
industry as insulation foams and binders is expected to augment demand. In
addition, increasing demand for PF resins from the oil and gas industry is
expected to further fuel the formaldehyde market.
- Construction was the largest end use
market for formaldehyde, with demand in excess of 23 million tons in 2013.
Formaldehyde is extensively used in construction materials such as cabinet
doors, medium density fiberboards and strand boards resulting in high
demand from the segment.
- Asia Pacific was the largest regional
market for formaldehyde, accounting for revenue of USD 6.74 billion in
2013 owing to increased production of textile, automotive and cosmetics.
Emerging markets in Latin America, Middle East and Africa are expected to
show combined growth at an estimated CAGR of 6.4 % from 2014 to 2020.
- Global formaldehyde market is highly
fragmented with top four companies accounting for less than 15% of global
revenue in 2013. Key industry participants include Dynea Oy, Bayer AG,
Celanese Corporation, and BASF SE, Formox AB, Georgia Pacific Corporation,
Momentive Specialty Chemical Inc. and Huntsman Corporation.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
For the purpose of this study, Grand View Research has
segmented the Global Formaldehyde Market on the basis of application, end use
and region:
• Global Formaldehyde Application Outlook (Volume,
Kilo tons; Revenue, USD Million, 2012 - 2020)
• UF Resins
• PF Resins
• MF Resins
• Polyacetal Resins
• Pentaerythritol
• Methylenebis (4-phenyl isocyanate) (MDI)
• 1,4-butanediol
• Others
• Global Formaldehyde End Use Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• Construction
• Others (automotive, aircraft, healthcare, clothing)
• Global Formaldehyde Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• UF Resins
• PF Resins
• MF Resins
• Polyacetal Resins
• Pentaerythritol
• Methylenebis (4-phenyl isocyanate) (MDI)
• 1,4-butanediol
• Others
• Global Formaldehyde End Use Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• Construction
• Others (automotive, aircraft, healthcare, clothing)
• Global Formaldehyde Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
View Press Release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-formaldehyde-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com