Global Formaldehyde Market 2019 By Regional Trend Formaldehyde Market

Global Formaldehyde Market anticipated to witness
healthy CAGR over 2019-2025: Global Market
Insights Inc.
According to new Global Market Insights, Inc, chemical research report Formaldehyde
Market size is projected grow significantly over the estimated timeline owing to its
application in specialty chemicals, building and construction, textiles and automotive
industries. The product acts as intermediate chemical in manufacturing binding and
reinforcing agent in the form of resin. It is also used in plywood industry and used in
manufacturing of wooden doors and furniture, thereby driving formaldehyde market
size by 2025.
Formaldehyde market size may grow owing to its usage in manufacturing glues and
adhesives which finds application in carpentry and home furnishing owing to their
superior binding properties. Product derivatives are used as binders in structural wood
panels along with application in lamination of wooden floorings, thereby making it
waterproof and economical options. Global wood-based panel market size is likely to
reach USD 170 billion by 2025 and thereby driving up glues and adhesives market.
These factors would positively influence the market size in forecast timeframe.
Formaldehyde market size is anticipated to witness gains owing to its usage in forming
resins by synthesizing with phenol, urea and melamine, which can be molded into
desired shape and find applications as insulation layers. Automotive components
including transmission, engine block, door panels, electrical system, axles and brake
shoes are manufactured from product derivatives. Automotive components market
size is set to cross USD 2 trillion, which may propel the market size in forecast
timeframe.
Formaldehyde market size may stimulate owing to its usage as a disinfectant due to
its property to completely negate the activity of yeast, fungi, bacteria, and mold. It is
effective against skin infections in aqueous solutions and used to produce inoculations
against certain infections. Its derivatives find application in tropical ointments and are
also used in treatment of urinary tract infections. Rising awareness regarding hygiene
and prevalence of hospital acquired infections would drive global antiseptics and
disinfectant market. Global antiseptics and disinfectant market size is poised to
surpass USD 25 billion by 2025 thereby influencing product demand.
Formaldehyde based resins find application in textile industry owing to its property to
improve fabric’s resistance to wrinkles and creases. The product is added to dyes and
pigments pertaining to textile industry.
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