According
to a new market report published by Transparency Market Research "
Global Formaldehyde Market
- Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2013 - 2019", the market was valued at USD 11.16 billion in
2012, and is expected
to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from
2013 to 2019. Lack of adequate power infrastructure and increasing
demand for reliable electricity delivery are the major driving forces
of this market.
http://www.transparencymarketresearch.com/formaldehyde-market.html
Rebound
in the construction activity across the world is expected to drive
demand for different kinds of formaldehyde resins in the next six
years. This in turn is expected to propel the demand for formaldehyde
in the years to come. Asia Pacific has been witnessing strong growth
across key end-use industries of formaldehyde including construction,
automobile and textiles. Volatile raw material prices are expected to
be a key concern for formaldehyde manufacturers over the next five
years. Growing health awareness and increasing environmental
regulations are expected to restrict demand for formaldehyde
derivatives and thus limiting the growth of formaldehyde market. In
July 2010, the U.S. government imposed new formaldehyde emission
regulation "Formaldehyde Standards for Composite Wood Products
Act" for various products such as plywood, Medium Density
Fiberboard (MDF), and others. Moreover, in Europe, REACH has already
imposed stringent emission standards for formaldehyde emissions from
wood products.
Urea
formaldehyde resins (UF Resins) accounted for over 39% share of total
formaldehyde volumes consumed in 2012. However, phenol formaldehyde
(PF) resins are expected to exhibit fastest growth during the next
six years. With over 13% share in total volume consumption, phenol
formaldehyde resin was the second largest application market for the
formaldehydes in 2011.
Construction,
automobile, aerospace and textile are among the key end-user
industries for formaldehyde. Construction industry has remained the
most predominant end-user of formaldehyde with over 65.0% in total
volume consumed in 2012.
Asia
Pacific accounted for 57.7% share of total formaldehyde volume
consumed in 2012. Moreover, the demand for formaldehyde in Asia
Pacific is expected to show robust growth in the years to come. In
2012, Europe was the second leading geographic market for
formaldehyde followed by North America. Some of the leading industry
participants include Bayer AG, BASF SE, Celanese Corporation,
Huntsman Corporation, Dynea Oy, Momentive Specialty Chemical Inc.,
Georgia Pacific Corporation, and Perstorp Formox AB.
Formaldehyde
Market: Application Analysis
UF
Resins
PF
Resins
MF
Resins
Polyacetal
Resins
Pentaerythritol
Methylenebis
(4-phenyl isocyanate) (MDI)
1,4-butanediol
Others
Formaldehyde
Market: End Use Analysis
Construction
Others
Formaldehyde
Market: Regional Analysis
North
America
Europe
Asia
Pacific
Rest
of the world
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