Lucintel Forecasts Formaldehyde Market To Grow At A Cagr Of 2%-4%

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According to the recent study the formaldehyde market is projected to grow at a CAGR of 2%-4% from 2020 to 2025. Growth in this market is primarily driven by increasing consumer awareness, growth in the building and construction industry, and growing demand from furniture sector.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in formaldehyde market by derivative type (Urea Formaldehyde (UF) resins, Phenol-Formaldehyde (PF) resins, MF resins, polyacetal resins, 1,4-butanediol, pentaerythritol, and methylenebis), application (fibers, solvents, plasticizers, drying agents, resins, and other chemical intermediaries), and region (North America, Europe, Asia Pacific, and Rest of the World).
Download sample report and view detailed Table of Content by clicking on below link – https://www.lucintel.com/formaldehyde-market.aspx
“Phenol-formaldehyde (PF) resins market is expected to remain the largest segment during the forecast period.”
Based on derivative type, the formaldehyde market is segmented into Urea Formaldehyde (UF) resins, ...
... Phenol-Formaldehyde (PF) resins, MF resins, polyacetal resins, 1,4-butanediol, pentaerythritol, and methylenebis. Lucintel forecasts that the Phenol-Formaldehyde (PF) is expected to witness the largest segment over the forecast period because of its high demand and consumption rate for laminate, plywood, and wood processing.
“Within the formaldehyde market, the resin segment is expected to remain the largest application”
Based on application, the resin segment is expected to witness the largest application over the forecast period because formaldehyde-based resins are used in the textile industry to help binding of dyes and pigments to fabrics and prevent colors from running when clothes are washed.
“Asia Pacific will dominate the formaldehyde market in near future”
Asia Pacific it is also expected to witness the highest growth over the forecast period because of the growing population, expanding middle class, and increasing disposable income of consumers across the region is expected to drive the building & construction sector.
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Major players of Formaldehyde market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF SE, Bayer Crop Science, Celanese AG, Dynea AS, Foremark Performance Chemicals, Georgia-Pacific Chemicals LLC, Huntsman International LLC are among the major formaldehyde providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/formaldehyde-market.aspx or helpdesk@lucintel.com
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Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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