Formaldehyde Market Analysis, Production Status, Growth and
Market Revenue Forecasts 2020
“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.”
Industry Insights:
Formaldehyde 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.
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.
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