Paraformaldehyde Market to Garner $2.8 Billion, Globally, By 2030 at 5.5% CAGR, Says Allied Market Research

Major determinants of the market growth Major determinants of the market growth Rise in need for paraformaldehyde to synthesize disinfectants, fixatives, fumigants, and fungicides has boosted the growth of the global paraformaldehyde market. However, the health effects of paraformaldehyde hinder the market growth. On the contrary, rise in inclination toward organic chemical synthesis, printing and photography, fertilizers, and fluorescent light products unlock new opportunities in the...

Major determinants of the market growth

Rise in need for paraformaldehyde to synthesize disinfectants, fixatives, fumigants, and fungicides has boosted the growth of the global paraformaldehyde market. However, the health effects of paraformaldehyde hinder the market growth. On the contrary, rise in inclination toward organic chemical synthesis, printing and photography, fertilizers, and fluorescent light products unlock new opportunities in the future.

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Covid-19 scenario:

The medical segment to manifest the highest CAGR through 2030

On the basis of application, the medical segment is projected to register the fastest CAGR of 6.2% during the forecast period, due to rise in demand as a hygienic & medical disinfector in medicine and the pharmaceutical sector. However, the agrochemicals segment held the largest share in 2020, accounting for more than two-fifths of the global paraformaldehyde market, due to surge in population and consumer preference for staple crops and demand for higher quality and more quantitative products.

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The Asia-Pacific, followed by North America, held the largest share

Based on geography, the global paraformaldehyde market across Asia-Pacific, followed by North America, held the largest share in 2020, contributing to nearly three-fifths of the market, owing to increasing production of paraformaldehyde in China. However, the market across LAMEA is expected to register the fastest CAGR of 6.6% during the forecast period, due to increased production of laminates, pentaerythritol, MDI, and wood panels.

Major Market Players

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