Global Paraformaldehyde Market 2017-2021

Overview of the global paraformaldehyde market

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. 

Competitive landscape and key vendors

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 -

• Celanese
• Chemanol
• Ercros
• INEOS
• PT. Dover Chemical

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

Segmentation by application and analysis of the paraformaldehyde market

• Agrochemical
• Resins
• Medical application

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.

Geographical segmentation and analysis of the paraformaldehyde market

• APAC
• Europe
• North America
• ROW

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global paraformaldehyde market?
• What are the key market trends impacting the growth of the global paraformaldehyde market?
• What are the challenges to market growth?
• Who are the key vendors in the global paraformaldehyde market?
• What are the market opportunities and threats faced by the vendors in the global paraformaldehyde market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global paraformaldehyde market?

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