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Formaldehyde Market Size, Share & Trends Analysis Report By Derivatives (Urea Formaldehyde, Melamine Formaldehyde), By End-use (Building & Construction, Furniture, Automotive), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 150 Pages
  • October 2023
  • Region: Global
  • Grand View Research
  • ID: 5899513
Description Jump to:
The global formaldehyde market size is expected to reach USD 12.3 billion by 2030, registering a CAGR of 5.7% from 2023 to 2030. The growth can be attributed to the increasing construction activities across the world. The product is also increasingly being used in the manufacturing of disinfectants, vaccines, and personal care products, including mouthwash and toothpaste, on account of its exceptional antibacterial attributes. Increasing demand for these products is likely to boost the demand for formaldehyde over the forecast period.

A majority of these companies in the market have integrated their business operations across the value chain to incur maximum profit at the lowest investment. With the outbreak of the COVID-19 pandemic, major end-use industries such as automotive, construction, and wood were shut down at a global level, which has a severe impact on the demand for the product. Although, it is also used to produce hard-gel capsules, vaccines, and antibiotics, which positively affected the demand for formaldehyde.

Asia Pacific is expected to witness significant growth in the coming years owing to the rapid growth of the adhesives, automobile, furniture, and electrical and electronics manufacturing sectors in the region. The market in the Asia Pacific is growing on account of its low price, high reactivity, and high-quality performance. In addition, significantly growing construction and automotive industries in Asia Pacific countries, especially in China and India, are likely to trigger the demand for formaldehyde.

Formaldehyde Market Report Highlights

  • In 2022, the urea formaldehyde (UF) derivatives segment held the largest revenue share of over 38.3% owing to its extensive usage in several end-use applications, including textiles, foundry sand, paper, electrical appliances, agriculture, and wood glue
  • Asia Pacific held the largest revenue share of over 54.0% in 2022 owing to the rapid growth of adhesives, automobile, furniture, and electrical and electronics manufacturing sectors in the region. China is one of the key players as it is one of the largest producers of furniture products
  • The melamine formaldehyde (MF) derivatives segment is anticipated to register the fastest revenue-based CAGR, due to its exceptional properties such as moisture resistance, thermal stability, scratch resistance, flame retardant, strength, and hardness. Its characteristics such as gloss, hardness, and the ability to retain a dust-free surface make MF a better substitute in comparison to UF in the plastic food containers and plastic plates markets
  • The market is highly fragmented. Key players are more inclined towards product development and mergers

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Derivatives
1.1.2. End-use
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Derivatives outlook
2.2.2. End-use outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Formaldehyde Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Formaldehyde Market Analysis Tools
3.6.1. Industry Analysis - Porter’s Five Forces
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Environmental landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Formaldehyde Market: Derivatives Estimates & Trend Analysis
5.1. Formaldehyde Market: Key Takeaways
5.2. Formaldehyde Market: Derivatives Movement & Market Share Analysis, 2022 & 2030
5.3. Urea Formaldehyde
5.3.1. Urea formaldehyde market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.4. Phenol Formaldehyde
5.4.1. Phenol formaldehyde market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.5. Melamine Formaldehyde
5.5.1. Melamine formaldehyde market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.6. Polyacetal Resins
5.6.1. Polyacetal resins market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.7. Pentaerythritol
5.7.1. Pentaerythritol market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.8. 1,4 Butanediol
5.8.1. 1,4 Butanediol market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.9. Methylenebis
5.9.1. Methylenebis market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
5.10. Hexamethylenetetramine
5.10.1. Hexamethylenetetramine market estimates and forecasts, 2018 to 2030 ((Kilo Tons, USD Million)
5.11. Others
5.11.1. Others market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
Chapter 6. Formaldehyde Market: End-use Estimates & Trend Analysis
6.1. Formaldehyde Market: Key Takeaways
6.2. Formaldehyde Market: End-use Movement & Market Share Analysis, 2022 & 2030
6.3. Building & Construction
6.3.1. Building & construction market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.4. Automotive
6.4.1. Automotive market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.5. Furniture
6.5.1. Furniture market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.6. Textile
6.6.1. Textile market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.7. Healthcare
6.7.1. Healthcare market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.8. Oil & Gas
6.8.1. Oil & gas market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.9. Agriculture
6.9.1. Agriculture market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.10. Water Treatment
6.10.1. Water treatment market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.11. Cleaning Products
6.11.1. Cleaning products market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.12. HVAC
6.12.1. HVAC market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
6.13. Others
6.13.1. Others market estimates and forecasts, 2018 to 2030 (Kilo Tons, USD Million)
Chapter 7. Formaldehyde Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Formaldehyde Market by Region: Key Takeaways
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4. Europe
7.4.1. U.K.
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.2. Germany
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.4. Italy
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.5. Spain
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.6. Belgium
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.4.7. Russia
7.4.7.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.5.4. South Korea
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.5.5. South East Asia
7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.6. Central & South America (CSA)
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.6.2. Argentina
7.6.2.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
7.7.2. South Africa
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Kilo Tons, USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Foremark Performance Chemicals
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Celanese Corporation
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. Hexion
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Georgia-Pacific Chemicals
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Alfa Aesar
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. Ashland
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. DuPont
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Capital Resin Corporation
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. Evonik Industries AG
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives
8.2.10. Perstorp
8.2.10.1. Company overview
8.2.10.2. Financial performance
8.2.10.3. Product benchmarking
8.2.10.4. Strategic initiatives
8.2.11. BASF
8.2.11.1. Company overview
8.2.11.2. Financial performance
8.2.11.3. Product benchmarking
8.2.11.4. Strategic initiatives
8.2.12. LRBG Chemicals Inc.
8.2.12.1. Company overview
8.2.12.2. Financial performance
8.2.12.3. Product benchmarking
8.2.12.4. Strategic initiatives
List of Tables
Table 1 List of abbreviations
Table 2 North America formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 3 North America formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 4 North America formaldehyde market, by region, 2018-2030 (Kilo Tons, USD Million)
Table 5 U.S. formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 6 U.S. formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 7 Canada formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 8 Canada formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 9 Mexico formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 10 Mexico formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 11 Europe formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 12 Europe formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 13 Europe formaldehyde market, by region, 2018-2030 (Kilo Tons, USD Million)
Table 14 Germany formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 15 Germany formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 16 UK formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 17 UK formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 18 France formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 19 France formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 20 Italy formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 21 Italy formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 22 Spain formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 23 Spain formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 24 Belgium formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 25 Belgium formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 26 Russia formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 27 Russia formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 28 Asia Pacific formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 29 Asia Pacific formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 30 Asia Pacific formaldehyde market, by region, 2018-2030 (Kilo Tons, USD Million)
Table 31 China formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 32 China formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 33 Japan formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 34 Japan formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 35 India formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 36 India formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 37 South Korea formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 38 South Korea formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 39 South East Asia formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 40 South East Asia formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 41 CSA formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 42 CSA formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 43 CSA formaldehyde market, by region, 2018-2030 (Kilo Tons, USD Million)
Table 44 Brazil formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 45 Brazil formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 46 Argentina formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 47 Argentina formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 48 Middle East and Africa formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 49 Middle East and Africa formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 50 Middle East and Africa formaldehyde market, by region, 2018-2030 (Kilo Tons, USD Million)
Table 51 South Africa formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 52 South Africa formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
Table 53 Saudi Arabia formaldehyde market, by derivatives, 2018-2030 (Kilo Tons, USD Million)
Table 54 Saudi Arabia formaldehyde market, by end-use, 2018-2030 (Kilo Tons, USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Formaldehyde: Market outlook
Fig. 9 Formaldehyde: Competitive Insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Industry value chain analysis
Fig. 14 Formaldehyde market driver impact
Fig. 15 Formaldehyde market restraint impact
Fig. 16 Formaldehyde market Strategic Initiatives analysis
Fig. 17 Formaldehyde market: Derivatives movement analysis
Fig. 18 Formaldehyde market: derivatives outlook and key takeaways
Fig. 19 Urea Formaldehyde market estimates and forecasts, 2018-2030
Fig. 20 Phenol Formaldehyde market estimates and forecasts, 2018-2030
Fig. 21 Melamine formaldehyde market estimates and forecasts, 2018-2030
Fig. 22 Polyacetal Resins market estimates and forecasts, 2018-2030
Fig. 23 Pentaerythritol market estimates and forecasts, 2018-2030
Fig. 24 1,4 Butanediol market estimates and forecasts, 2018-2030
Fig. 25 Methylenebis market estimates and forecasts, 2018-2030
Fig. 26 Hexamethylenetetramine market estimates and forecasts, 2018-2030
Fig. 27 Others market estimates and forecasts, 2018-2030
Fig. 28 Formaldehyde market: End-use movement analysis
Fig. 29 Formaldehyde market: End-use outlook and key takeaways
Fig. 30 Building & construction market estimates and forecasts, 2018-2030
Fig. 31 Automotive market estimates and forecasts, 2018-2030
Fig. 32 Furniture market estimates and forecasts, 2018-2030
Fig. 33 Textile market estimates and forecasts, 2018-2030
Fig. 34 Healthcare market estimates and forecasts, 2018-2030
Fig. 35 Oil & gas market estimates and forecasts, 2018-2030
Fig. 36 Agriculture market estimates and forecasts, 2018-2030
Fig. 37 Water treatment market estimates and forecasts, 2018-2030
Fig. 38 Cleaning products market estimates and forecasts, 2018-2030
Fig. 39 HVAC market estimates and forecasts, 2018-2030
Fig. 40 Others market estimates and forecasts, 2018-2030
Fig. 41 Global formaldehyde market: Regional movement analysis
Fig. 42 Global formaldehyde market: Regional outlook and key takeaways
Fig. 43 North America market estimates and forecasts, 2018-2030
Fig. 44 U.S. market estimates and forecasts, 2018-2030
Fig. 45 Canada market estimates and forecasts, 2018-2030
Fig. 46 Mexico market estimates and forecasts, 2018-2030
Fig. 47 Europe market estimates and forecasts, 2018-2030
Fig. 48 U.K. market estimates and forecasts, 2018-2030
Fig. 49 Germany market estimates and forecasts, 2018-2030
Fig. 50 France market estimates and forecasts, 2018-2030
Fig. 51 Italy market estimates and forecasts, 2018-2030
Fig. 52 Spain market estimates and forecasts, 2018-2030
Fig. 53 Belgium market estimates and forecasts, 2018-2030
Fig. 54 Russia market estimates and forecasts, 2018-2030
Fig. 55 Asia Pacific market estimates and forecasts, 2018-2030
Fig. 56 Japan market estimates and forecasts, 2018-2030
Fig. 57 China market estimates and forecasts, 2018-2030
Fig. 58 India market estimates and forecasts, 2018-2030
Fig. 59 South Korea market estimates and forecasts, 2018-2030
Fig. 60 South East Asia market estimates and forecasts, 2018-2030
Fig. 61 CSA market estimates and forecasts, 2018-2030
Fig. 62 Brazil market estimates and forecasts, 2018-2030
Fig. 63 Argentina market estimates and forecasts, 2018-2030
Fig. 64 Middle East and Africa market estimates and forecasts, 2018-2030
Fig. 65 Saudi Arabia market estimates and forecasts, 2018-2030
Fig. 66 South Africa market estimates and forecasts, 2018-2030

Companies Mentioned

  • Foremark Performance Chemicals
  • Celanese Corporation
  • Hexion
  • Georgia-Pacific Chemicals
  • Alfa Aesar
  • Ashland
  • DuPont
  • Capital Resin Corporation
  • Evonik Industries AG
  • Perstorp
  • BASF
  • LRBG Chemicals Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages150
PublishedOctober 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 7.92 Billion
Forecasted Market Value ( USD ) by 2030 $ 12.3 Billion
Compound Annual Growth Rate5.7%
Regions CoveredGlobal
No. of Companies Mentioned12

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