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Paraformaldehyde Market Trends 2024 - The Agrochemical Applications Has Been Stimulating the Global Industry

Author : Ronak Bora | Published Date : 2019-08-09 

Agrochemical applications covered more than 40% of the revenue share in paraformaldehyde market and will register an annual growth rate of more than 6% over the period of 2016 to 2024. The attributing factor toward the growth of this market is the shifting trends to increase crop-yield for fulfilling the globally escalating demand for food. Agrochemicals are in high demand across the U.S., owing to the significant consumption of the product in the farming sector, subject to which U.S. paraformaldehyde market will grow considerably. With U.S. at the helm, North America paraformaldehyde market will grow lucratively over the years ahead, having collected a revenue of USD 85.4 million in 2015. Growing infrastructure development across this region will augment the industry growth, in addition to the development of the pharmaceutical.

Growing pharmaceutical sector will propel paraformaldehyde Market for medical segment owing to its widespread application for fixating tissue & cells as it possesses brilliant disinfectant properties. Global medical industry contribution in product application was valued over 27 kilo tons in 2016 and is projected to boost at a prominent rate which will subsequently drive the paraformaldehyde market over the projected timeframe.

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The automotive sector is on the verge of consistent expansion across the continent of Europe. Paraformaldehyde based resins are prominently used in vehicle manufacturing for the various components such as molding, bearing, and adhesives, subject to which paraformaldehyde market in Europe will rise considerably. Resins accounted for more than 40% of revenue share in application segment of paraformaldehyde market in 2015 and will record a CAGR of about 5% over the coming years of 2016 to 2024. Owing to the properties such as corrosion and chemical resistance, the product is extensively across the aerospace, automotive, rubber, paper, and paints & coatings sectors.

Asia Pacific constituted for more than half of the total paraformaldehyde market share in 2016. This is primarily attributed to rapid industrialization and urbanization which has resulted in strong growth in the construction sector. For instance, China spend over 1.5 trillion and India contributed over USD 400 billion in 2016 which has resulted in growing resin consumption in the region which will drive paraformaldehyde market by 2024. Presence of key automobile players in the Europe will lead to increasing paraformaldehyde application as resin in manufacturing variety of auto parts which will subsequently boost paraformaldehyde market in the region by 2024.

The noteworthy players in paraformaldehyde market are Zibo Qingxin Chemicals Factory, Pure Chemistry Scientific, Inc., Tianjin Yuanlong Chemical Industry Co, Ltd., Asia Chemical Corporation, Oswal Udhyog, Linyi Ruifeng Machinery Co., Ltd, Stormmax ASSP Ltd., Changzhou Koye Chemical Co Ltd., Caldic, Interatlas Chemical Inc., Nantong Jiangtian Chemical Co Ltd., Ekta International, GFS Chemicals, Jinan Xiangrui Chemical Co., Ltd., Alfa Aesar, Hebei Yuhang Chemical Industry Co, Ltd., and Alpha Chemika.

Browse key industry insights spread across 113 pages with 85 market data tables & 11 figures & charts from the report, “Paraformaldehyde Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/paraformaldehyde-market

Glimpse of Table of Content (ToC)

Chapter 3. Paraformaldehyde Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013 – 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.3.2. Distributor matrix

3.4. Industry impact forces

3.4.1. Growth drivers

3.4.1.1. Increasing agricultural market

3.4.1.2. Growing construction sector

3.4.1.3. Flourishing automobile industry

3.4.2. Industry pitfalls & challenges

3.4.2.1. Stringent government regulations

3.4.2.2. Human health hazards and safety issues

3.5. Growth potential analysis, 2015

3.6. Regulatory trends

3.6.1. U.S.

3.6.2. Europe

3.6.3. China

3.7. Porter’s analysis

3.8. Company market share analysis, 2015

3.9. PESTEL analysis

3.10. Regional price trends

3.10.1. Cost structure analysis

3.10.2. Raw material trends

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/paraformaldehyde-market

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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