Paraformaldehyde Market Size, Share, Growth Analysis, By Grade Industrial Grade, Reagent Grade), By End User (Agriculture, Automotive), By Application, By Region - Industry Forecast 2025-2032

Global Paraformaldehyde Market size was valued at USD 1.7 billion in 2022 and is poised to grow from USD 1.9 billion in 2023 to USD 2.9 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2024-2031). 

The global paraformaldehyde market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of paraformaldehyde. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Celanese Corporation (USA) ', 'Shandong Shuangqi Chemical Co., Ltd. (China) ', 'INEOS Paraform GmbH (Germany) ', 'BASF SE (Germany) ', 'Chang Chun Group (Taiwan) ', 'Simalin Chemical Industries (India) ', 'Hunan Lujian Biological Technology Co., Ltd. (China) ', 'Nangtong Reagent Chemical Co., Ltd. (China) ', 'Sichuan Jinling Chemical Co., Ltd. (China) ', 'Alpha Chemika (India) ', 'Hubei Xiangyun (Group) Chemical Co., Ltd. (China) ', 'Polyplastics Co., Ltd. (Japan) ', 'Jinan Xiangrui Chemical Co., Ltd. (China) ', 'Alfa Aesar (Thermo Fisher Scientific) (USA) ', 'Gujarat Alkali and Chemicals Limited (GACL) (India) ', 'Ercros S.A. (Spain) ', 'Metalúrgica Lazpiur S.A. (Spain) ', 'Kothari Phytochemicals International (India) ', 'Caledon Laboratories Ltd. (Canada) ', 'Triveni Interchem Pvt. Ltd. (India) '

One driver of the market is the increasing demand from various end-use industries such as plastics, resins, pharmaceuticals, and agrochemicals. Paraformaldehyde is a key raw material in the production of resins and plastics, which are widely used in automotive, construction, and packaging industries. The growth in these industries, coupled with the rising need for durable and lightweight materials, drives the demand for paraformaldehyde.

One key market trend in the global market is the growing demand for paraformaldehyde as a key raw material in various industries. Paraformaldehyde is extensively used in the production of resins, adhesives, plastics, and agrochemicals. The increasing use of paraformaldehyde in the manufacturing of resins for the wood industry, such as particleboard and medium-density fiberboard (MDF), is driving market growth.

One dominant region in the global paraformaldehyde market is Asia Pacific. The region is characterized by a large presence of chemical manufacturing industries, particularly in countries like China and India. These countries have a strong demand for paraformaldehyde due to its wide range of applications in various industries such as plastics, resins, pharmaceuticals, and agriculture. The increasing population, rapid industrialization, and economic growth in Asia Pacific are driving the demand for paraformaldehyde in the region.