Global Formaldehyde Market 2019 By Regional Trend Formaldehyde Market | Página 2

Solution of the product find application in preservation of human and animal
specimens owing to its property to preserve tissues and cells by cross linking DNA or
nitrogen in protein with primary amino groups. The product is extensively used as an
embalming agent to preserve cadavers from decomposition. Global embalming agent
market is projected to reach USD 14 billion by 2026 which may drive up formaldehyde
market size.
Formaldehyde market size likely to get affected owing to its volatile toxic nature which
can cause significant harm to human health. The product can cause potential damage
to nose, reproductive systems, lungs and skin. National Toxicology Program in the
U.S. has described the product known to be a human carcinogen. European Union
and the US has regulated the permissible amount of product in finished items, thereby
affecting industry profitability.
Europe led by France, UK, Germany formaldehyde market size is projected grow
significantly in the projected timeframe. Shifting trend towards healthy life style is likely
to drive demand for antiseptic and disinfectant which may foster industry growth.
Asia Pacific led by Japan, India and China market size is projected to grow significantly
in the estimated timeline owing to end-use application in automobile industry. Growing
automobile industry in China and India are likely to boost market size owing to its
downstream application in automobile industry.
Global formaldehyde market share is fragmented. Major players operating in this
industry includes Huntsman Corporation, BASF SE, Dynea Oy, Momentive Specialty
Chemical Inc., Bayer AG, Georgia Pacific Corporation, Perstorp Formox AB and
Celanese Corporation.
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