Formaldehyde Market Profile | Size, Share & Geography | Forecast To 2028

DUBAI, UAE. 25th September 2019: Formaldehyde Market is a major constituent for urea-alkyd resins production, having a wide range of end-users from industries including automobile, plywood, construction, buildings, furniture, paints & coatings, textiles, fertilizers & pesticides and packaging sectors. The global market is estimated to grow moderately over the forecast period.

The product is used mainly for manufacturing of amino resins such as melamine-formaldehyde, urea-melamine-formaldehyde and urea-formaldehyde resins. Apart from being cheaper than conventional adhesives, theses resins possess phenomenal moisture resistance and adhesive strength.  Commercially, formaldehyde is functioned as formalin, in liquid form, which widely used as embalming agent and disinfectants.

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Formaldehyde is anticipated to be emerging market owing to growing end use applications in various sector such as infrastructure and construction especially in developing nations. One of the major drivers for the market is usage of formaldehyde for fuel production, as it is a cheaper alternative to oil. The increasing demand for medium density fiberboards, laminates, particle boards, automotive parts are anticipated to drive the market.

Increased production of laminates and wood-based panels are increasing the demand of formaldehyde, thus, boosting the market over the forecast period.

Application Insights:

Major formaldehyde market applications include UF resins, MF resins, PF resins, pentaerythritol, 1, 4-butanediol, methylenebis, and polyacetal resins. PF resins are fire and water resistant and extensively used in oil, automotive and construction industry such as binders, composites, and insulation foams. Hence, PF resins are anticipated to dominate the market owing to its high demand and consumption rates.

Phenolic PF resins, fire resistant in nature, are used widely in construction and automobile industries. Water resistant variants are also used as durable binders and adhesives. Growing UF resins demand is anticipated to drive the global market owing to its chemical, flame & arc resistant, also color retention properties.

Formaldehyde coatings are used to enhance durability and aesthetics of wooden material and furniture. It is majorly used in wood and coating industry owing to its outstanding properties such as heat & chemical resistance, hardness suitable to manufacture serving trays and wiring devices.

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Global Formaldehyde Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)

        • UF Resins

        • PF Resins

        • MF Resins

        • Polyacetal Resins

        • Pentaerythritol

        • Methylenebis (4-phenyl isocyanate) (MDI)

        • 1,4-butanediol

        • Others

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