ALDEHYDES MARKET ANALYSIS
Aldehydes Market Dynamics
Formaldehyde is among the most common type of aldehydes and is widely used aldehydes across the globe. It is prominently used in the manufacturing of numerous types of resins such as melamine formaldehyde resins, urea formaldehyde resins, and others, which is driving the global aldehydes market growth. Moreover, formaldehyde is largely used in the downstream chemicals including 1, 4- butanediol. Owing to its other capabilities such as inhibition of bacteria and other microbes, the formaldehyde is used in as medical disinfectant and antiseptic.
Excessive use of fertilizer such as urea across the globe is expected to propel demand for aldehyde. Urea formaldehyde is used as soil fertilizers in the agriculture industry. According to the World Bank, in 2015, fertilizer consumption increased to 94% from 89.9% in 2010.
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