Paraformaldehyde Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2023
“The factors that propel the growth of the market include
increasing population, and growing demand as a
fumigant, disinfectant, fixative, and fungicide. Moreover,
increasing demand for paraformaldehyde as a hygienic &
medical disinfector in medicine and pharmaceuticals
sector is likely to boost the market growth.”
Global Paraformaldehyde Market is anticipated to witness an exponential growth in the forecast period.
Paraformaldehyde is a low molecular polycondensation compound of methylene glycol with the nature of
formaldehyde. It is formed by polymerization of methanol by heating and is usually white crystalline in nature.
The factors that propel the growth of the market include increasing population, and growing demand as a
fumigant, disinfectant, fixative, and fungicide. Moreover, increasing demand for paraformaldehyde as a hygienic
& medical disinfector in medicine and pharmaceuticals sector is likely to boost the market growth. On the other
hand, there are factors that may hamper the growth of the market including side effects like cancer and nasal
& ocular irritation.
The market is anticipated to grow at a CAGR of 5.3% in the upcoming period as the scope, product types, and
its applications are increasing across the globe. The latest trend gaining huge traction in the market is growing
demand for resins by the shipping industry. The shipping industry was stagnant in the past but has been
recording a substantial growth in the recent years. There is a growing demand for sail boats, power boats, speed
boats, and cruise ships that has led to a surge in marine traffic.
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The market could be explored by application and geography. The key applications that could be explored in the
market include Resins, Agrochemical, and Medical application. The “Agrochemical” segment led the market in