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Research analysis on the global paraformaldehyde market identifies that the rising demand for glyphosate will be one of the major factors that will have a positive impact on the growth of the market. Glyphosate, an organic phosphorus herbicide, is used in chemical weed control applications in orchards, mulberry fields, tea plantations, and rubber forests. It is one of the most effective herbicides and is increasingly used to enhance the agricultural yield. This will increase the demand for glyphosate and will subsequently fuel the growth of the paraformaldehyde market since it is one of the major raw materials for manufacturing glyphosate. Technavio's market research analysts predict that this market will grow at a CAGR of around 6% by 2021.
The growing demand for thermoset composites will be one of the major trends that will gain traction in the paraformaldehyde market during the next four years. Thermoset composites are made from glass, carbon, or aramid fibers and exhibit various properties including durability, low shrinkage, low smoke generation, and controlled surface finish. Additionally, they are also resistance to chemicals and flame and generate low smoke. Owing to their advantages such as easy customization, resistant to corrosion, and ability to use around magnetic and sensitive electronic equipment, the demand for these composites will increase in the coming years.
The market has the presence of several dedicated vendors. The level of competition among the players in this marketspace is moderate. However, the market's growth potential will result in the entry of new players, in turn intensifying the competitive environment. Most of the vendors in this market are from the APAC countries such as China.
The leading vendors in the market are -
The other prominent vendors in the market are Alder, Alfa Aesar, Caldic, Chang Chun Group, Ekta International, GFS Chemicals, Kothari Phytochemicals & Industries, LCY Group, NANGTON JIANGTIAN CHEMICALS, Shouguang Xudong Chemical, Simalin Chemicals Industries, Synthite Limited, and OSWAL UDHYOG
During 2016, the agrochemical segment accounted for the major shares of this marketspace. The increase in the need for crop protection due to the rising population across the globe will be a major factor fueling the demand for agrochemicals since it helps in improving the yield. This will in turn, augment the market's growth prospects since paraformaldehyde is increasingly used in the production of agrochemicals.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market till 2021. The region is witnessing a considerable growth of the agrochemicals industry and the governments of several countries are increasingly focusing on improving agriculture. This will fuel the growth of the paraformaldehyde market since it is used in the production of agrochemicals. China, Japan, and India are the major producers of agrochemicals. Additionally, paraformaldehyde is also used in other industries such as construction and automotive sectors.
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Paraformaldehyde is generally used in the pharmaceutical industry as a general and specialty disinfectant. Due to its importance and use in the pharma industry, it is an essential part of the specialty chemicals sector. The upcoming report on the global paraformaldehyde market gathers market intelligence data by collecting information from a wide range of parameters such as market size, growth potential, supply chain practices, and technological advancements to gather deep insights on Technavio's chemicals and materials industry.
The market research analysts at Technavio also carry out exhaustive primary and secondary research, by collecting accurate data and insights from manufacturers, vendors, resellers, consumers, and other key stakeholders. Research analyst at Technavio uses various research tools like case studies, historical research, and market size analysis to provide a macro-level overview of the market.
The upcoming report on the global paraformaldehyde market also identifies some of the vendors competing in this market and affecting the specialty chemicals market such as Shandong Shuangqi Chemical Co, Shouguang Xudong Chemical, Jinan Xiangrui Chemical, Celanese Corporation, INEOS, Parchem, Inter Atlas Chemical, GFS Chemicals, Alfa Aesar, Shanghai Orgpharma Chemical, Ekta International, Oswal Udhyog, Asia Chemical Company, Caldic, and Nantong Jiangtian Chemical. The report also forecasts growth prospects of each segment, using geography and product type as the segmentation criteria. For geographic segmentation, they cover information from regions such as the Americas, APAC, Europe, and ROW. An increasing trend of paraformaldehyde consumption in thermosetting composites could see the product's demand rise in the near future.
The upcoming market research report for the global paraformaldehyde market also highlights the key drivers, competitive intelligence, comprehensive profiling of customers, clients and businesses, as well as the restraints that the specialty chemicals sector currently experiences. Technavio also provides deep-dive market assessments into the sectors such as metals and minerals, plastics, polymers, and elastomers, and bio-chemicals and bio-materials.
Our market research methodology for the global paraformaldehyde market
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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