The global formaldehyde market is expected to reach USD 21.03 billion by 2020. Growth in furniture and construction industry along with increasing concentration in Asia Pacific is expected to be a key driver for the market over the next six years. Fluctuating raw material prices coupled with the increasing consumer awareness regarding harmful effects of formaldehyde is expected to be a major challenge for the market over the forecast period. In addition, stringent environmental regulations, imposed by REACH on formaldehyde emissions from wood products are expected to further hinder the growth of the market.
Further key findings from the study suggest:
- UF Resins dominated the application market in terms of revenue and volume, accounting for over 39% of global market volume in 2013. PF resins are expected to be fastest growing application segment, at an estimated CAGR of 7.1 % from 2014 to 2020. Growing consumption of phenol formaldehyde in automotive and construction industry as insulation foams and binders is expected to augment demand. In addition, increasing demand for PF resins from the oil and gas industry is expected to further fuel the formaldehyde market.
- Construction was the largest end use market for formaldehyde, with demand in excess of 23 million tons in 2013. Formaldehyde is extensively used in construction materials such as cabinet doors, medium density fiberboards and strand boards resulting in high demand from the segment
- Asia Pacific was the largest regional Formaldehyde Market, accounting for revenue of USD 6.74 billion in 2013 owing to increased production of textile, automotive and cosmetics. Emerging markets in Latin America, Middle East and Africa are expected to show combined growth at an estimated CAGR of 6.4 % from 2014 to 2020.
- Global formaldehyde market is highly fragmented with top four companies accounting for less than 15% of global revenue in 2013. Key industry participants include Dynea Oy, Bayer AG, Celanese Corporation, and BASF SE, Formox AB, Georgia Pacific Corporation, Momentive Specialty Chemical Inc. and Huntsman Corporation.
For the purpose of this study, Grand View Research has segmented the formaldehyde market on the basis of application, end use and region:
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
To Access Complete Formaldehyde Market Research Report, Click here: http://www.radiantinsights.com/research/formaldehyde-market-analysis-by-application-uf-resins-pf-resins-mf-resins-polyacetal-resins-pentaerythritol-methylenebis-1-4-butanediol-by-end-user-construction-automotive-furniture-and-segment-forecasts-to-2020
Global Formaldehyde End Use Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
Construction
Others (automotive, aircraft, healthcare, clothing)
Global Formaldehyde Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
North America
Europe
Asia Pacific
RoW
About Radiant Insights
Radiant Insights is a platform for companies looking
to meet their market research and business intelligence requirements. It assist
and facilitate organizations and individuals procure market research reports,
helping them in the decision making process. The Organization has a
comprehensive collection of reports, covering over 40 key industries and a host
of micro markets. In addition to over extensive database of reports,
experienced research coordinators also offer a host of ancillary services such
as, research partnerships/ tie-ups and customized research solutions.
Media
Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Blog: http://www.radiantinsightsinc.blogspot.com/
No comments:
Post a Comment