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2021
Formalin Market

Formalin Market by Percentage (1%-20%, 20 %-40 % and 40 % - 60 %), Application (Fertilizers, Drugs, Dye, Antiseptic perfume, Automotive exteriors and Interiors. Rubber Chemicals and Others) and End use industry (Chemical, Agriculture, Building & Construction, Personal Care & Cosmetics, Healthcare, Textile, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

A13655
Pages: NA
Dec 2021 | 126 Views
   
Author(s) : Eswara Prasad
Tables: NA
Charts: NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Formalin Market Outlook 2030

Formalin is a liquid with various characteristics, including explosiveness, flammability, toxicity, and colorlessness. The explosive chemical formed when formalin vapor combined with oxygen molecules in the air. As a result, dealing with Formalin necessitates extreme caution and attention. Formalin is transported mostly in stainless steel and aluminum rail tanks, barrels, and cars, but it can also be transported in polyethylene barrels or cans. Formalin's general properties include cleaning various things and being used as a hardener in nail polishes to strengthen nails. It also serves as a fixative, preventing autolytic degradation of human tissue that has been removed during surgery. Formalin is used as a tissue preservation all over the world. It has a wide range of applications in a variety of industries, including paper, paint, textiles, and others.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

2020–2030

Base Year Considered

2020

Forecast Period

2021–2030

Forecast Unit

Value (USD) and Volume (Kilo Tons)

Segments Covered

Percentage, Application, End Use Industry, and Region

Regions Covered

North America, Europe, Asia-Pacific, LAMEA

Companies Covered

Dynea AS, BASF SE, Huntsman International LLC, Balaji Formalin Private Limited, Bayer AG, Georgia-Pacific Chemicals, Perstorp, Chemique Adhesives & Sealants Ltd., Hexion, Celanese Corporation, Foremark Performance Chemicals, Ercros S.A., Chemanol, LyondellBasell Industries Holdings B.V., Alder SpA, 3M, Momentive, Johnson Matthey, DuPont and Merck KGaA.


COVID-19 Impact analysis

  • The COVID-19 pandemic has had an impact on formaldehyde market activity. Companies in the formaldehyde market are focusing on cleaning agents, disinfectants, and other critical items during the pandemic because formaldehyde and its derivatives are virtually present in almost all end-use applications.
  • Formalin products are in high demand in nations with a large number of active coronavirus cases, such as Australia, Canada, India, and Pakistan, among others, as a result of the COVID-19 pandemic.

Top Impacting Factors

  • The formalin market is benefiting from an increase in the usage of adhesives due to the increased demand for wooden furniture, hardwood floors, and a variety of other items that employ adhesives. The widespread use of adhesives to create perfect furniture has accelerated the use of formalin. The expansion of the fertilizer business has also boosted formalin demand as a result of increased food consumption around the world, which necessitates the use of more fertilizers. As the world's population grows, so does the demand for food. The enormous need to boost food production necessitates the widespread use of formalin in fertilizer manufacture. However, several governments, such as India and Bangladesh, have imposed strict limitations on the manufacturing and usage of formalin, stifling the global expansion of the formalin business. Developed regions, such as Europe and North America, have enacted strict regulations to manage the formalin market in their respective territories.

Market Trends

  • BASF has completed the purchase of Solvay Polyamide. BASF will be able to produce superior engineered plastics products for autonomous driving and e-mobility as a result of the acquisition, as well as expand its access to growth markets in Asia, North and South America.
  • CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives, and coatings markets, has been acquired by Huntsman Corporation.
  • The addition of CVC Thermoset Specialties to Huntsman International LLC's Advanced Materials portfolio adds valuable complementary technology breadth, and its unique products will make systems are based on class-leading epoxy-based materials increasingly tougher, stronger, and more durable.
  • Within its pharmaceutical’s division, Bayer AG has purchased Asklepios BioPharmaceutical Inc. and established a cell and gene therapy platform.
  • Georgia-pine Pacific's chemicals division has been acquired by Ingevity Corporation. We will be able to accelerate the profitable expansion of Ingevity Corporation's Performance Chemicals sector thanks to this purchase.

Key Segments Covered

Percentage

  • 1%-20%
  • 20 %-40 %
  • 40 % - 60 %

Application

  • Fertilizers
  • Drugs, Dye
  • Antiseptic perfume
  • Automotive exteriors and Interiors
  • Rubber Chemicals
  • Others

End use Industry

  • Chemical
  • Agriculture
  • Building & Construction
  • Personal Care & Cosmetics
  • Healthcare
  • Textile
  • Automotive
  • Others

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Key Benefits of the Report

  • This study presents the analytical depiction of the formalin industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Formalin market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the formalin market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Formalin market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the formalin Report

  • Who are the leading market players active in the formalin market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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