Paraformaldehyde Market To Explore Emerging Trends Of Coming Years – Available In New Report

The market's growth is largely driven by the increasing demand for paraformaldehyde in synthesizing disinfectants, fixatives, fumigants, and fungicides.

WILMINGTON, DE, UNITED STATES, October 3, 2024 /EINPresswire.com/ -- A recent report by Allied Market Research titled “Paraformaldehyde Market by Application (Resins, Agrochemicals, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030” reveals that the global paraformaldehyde market, valued at $1.6 billion in 2020, is projected to hit $2.8 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/14106

Key Drivers of Market Growth

The market's growth is largely driven by the increasing demand for paraformaldehyde in synthesizing disinfectants, fixatives, fumigants, and fungicides. However, concerns over the health risks associated with paraformaldehyde pose a challenge to market expansion. Nevertheless, new opportunities are emerging, with rising interest in its applications for organic chemical synthesis, printing and photography, fertilizers, and fluorescent light products.

Segment Analysis: Medical Sector Leads Growth

Based on application, the medical segment is forecasted to experience the highest CAGR of 6.2% through 2030, driven by its growing use as a disinfectant in the medical and pharmaceutical sectors. In contrast, the agrochemicals segment accounted for the largest market share in 2020, representing over 40% of the global market, driven by population growth and increased demand for high-quality crops and agricultural products.

Regional Insights: Asia-Pacific Dominates, LAMEA Poised for Rapid Growth

Geographically, Asia-Pacific, followed by North America, dominated the global market in 2020, holding nearly 60% of the market share. This dominance is primarily due to high paraformaldehyde production in China. Meanwhile, the LAMEA region is expected to witness the highest CAGR of 6.6% during the forecast period, fueled by increased production in sectors like laminates, pentaerythritol, MDI, and wood panels.

Leading Market Players

The report identifies key players driving the market, including:

- Alpha Chemika
- Merck
- Caldic
- Celanese
- Alfa Aesar
- Yinhe Chemical
- Ekta International
- Ercros
- Chemanol
- Jinan Xiangrui Chemical Co., Ltd.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/paraformaldehyde-market/purchase-options

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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