By 2024, Paraformaldehyde Market to reach $800 Mn

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.

Selbyville, United States – August 27, 2019 /MarketersMedia/ —

The Paraformaldehyde Market is set to grow from its current market value of more than $493 million to over $800 million by 2024; as reported in the latest study by Global Market Insights, Inc.

Toxic and hazardous nature of product is likely to cause irritation in eye and nose which will impede paraformaldehyde market by 2024. Moreover, it is reported that prolonged human contact with the product has possibility of causing cancer which is expected to hamper paraformaldehyde industry over the projected timespan.

The resins application segment contributed a major portion which accounted for over 45% of the total paraformaldehyde market in 2016. Wide variety of resins including amines, polycarbonates, polyether, polyurethanes, phenols, etc. and exhibit excellent characteristics such as elasticity, stiffness, resistance to high temperature, chemical and corrosion resistance These have widespread applications in paper coating, insulation, automotive, rubber, electrical & electronics, etc. which will stimulate paraformaldehyde industry for resin during the forecast period.

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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.

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 paraformaldehyde industry covered over 55% global market share in 2015 and will exhibit considerable annual growth rate over the coming seven years. Growing spending on construction activities across the emerging countries of this region will propel the requirement of the product. As per the study, India invested USD 420 billion in infrastructure development in 2015 and in the same year, China spent USD 1.75 trillion on construction projects.

Browse key market 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

Key industry share contributors of paraformaldehyde are Tianjin Yuanlong Industry, Oswal Udhyog, Asia Chemical, Stormmax ASSP, Linyi Ruifeng, Nantong Jiangtian, Zibo Qingxin Chemicals and Inter Atlas.

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

Chapter 4. Paraformaldehyde Market, By Application
4.1. Paraformaldehyde market share by application, 2015 & 2024
4.2. Resins
4.2.1. Market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Agrochemicals
4.3.1. Market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024
4.4. Medical applications
4.4.1. Market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecasts by region, 2013 – 2024
4.5. Others
4.5.1. Market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecasts by region, 2013 – 2024

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

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and market research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Website: https://www.gminsights.com/pressrelease/paraformaldehyde-market

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