TMR_Research_Reports_2017 Paraformaldehyde Market Research Report 2023 | Page 2

Smart Materials Market
REPORT DESCRIPTION
Paraformaldehyde Market for Resins, Agrochemicals, Medical, and
Other Applications - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2023
In the last few years, the use of paraformaldehyde has increased significantly owing to the rising
number of applications. The growing demand from agrochemical and resins manufacturers is
expected to encourage the growth of the global paraformaldehyde market in the coming years. Some
of the key applications of paraformaldehyde are medical appliances, agrochemicals, resins, lubricant
additives, papermaking, and others. The key players in the market are emphasizing on increasing the
number of applications is estimated to supplement the growth of the market in the coming years.
According to the research study, the global market for paraformaldehyde is anticipated to reach a
value of US$791.9 mn by the end of 2023. The market is likely to register a healthy 6.0% CAGR
between 2015 and 2023.
Application of paraformaldehyde as Lubricant Additives to Encourage Growth
The rising rate of adoption of GM crops has resulted in a high demand for glyphosate, which is the
key factor estimated to encourage the growth of the global paraformaldehyde market in the coming
years. In addition, the growing demand for resins is predicted to accelerate the overall development
of the market in the near future. The rising focus on the development of new products and
technological advancements are estimated to supplement the market’s growth.
Obtain Report Details @
http://www.transparencymarketresearch.com/paraformaldehyde-market.html
On the flip side, several concerns related to the sanctions and restrictions against glyphosate are
anticipated to restrict the growth of the global paraformaldehyde market in the forecast period.
Nevertheless, the application of paraformaldehyde as drilling fluids and as a lubricant additive is
expected to generate promising opportunities for key players operating in the global market in the
next few years.
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Transparency Market Research