![Global Paraformaldehyde Market](https://res.cloudinary.com/devmoveo/image/upload/v1687954801/skyquest/gallery/Global-Paraformaldehyde-Market.jpg)
Report ID: SQMIG15A2351
Report ID:
SQMIG15A2351 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
59 |
Figures:
75
Paraformaldehyde Market size was valued at USD 1.73 billion in 2021 and is poised to grow from USD 1.82 billion in 2022 to USD 2.8 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).
The global paraformaldehyde market is experiencing significant growth due to several key factors. The increasing demand for paraformaldehyde in various industries, such as pharmaceuticals, agrochemicals, resins, and plastics, is driving market growth.
The growing emphasis on sustainable and eco-friendly products is further propelling the demand for paraformaldehyde as it is considered an environmentally friendly alternative to other chemicals.
Furthermore, the rising population, urbanization, and industrialization in emerging economies are creating lucrative opportunities for market expansion. However, the market is also faced with challenges such as the availability of substitutes and stringent regulations regarding chemical usage, which may restrain the growth of the paraformaldehyde market to some extent.
US Paraformaldehyde Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15A2351