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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