PARAFORMALDEHYDE MARKET ANALYSIS

The global paraformaldehyde market size is expected to witness potential gains in the future and register a significant CAGR of 5.8% over the forecast period (2019 - 2027).

Market Overview

Paraformaldehyde is a white crystalline solid commonly used as a disinfectant and fixation reagent. This smallest polyoxymethylene has a strong pungent odor similar to that of formaldehyde due to decomposition. It contains 89-91% of formaldehyde and 9-11% of water. Vacuum drying process and spray drying are two main processes of producing paraformaldehyde. It is toxic and classified as a dangerous good for transport. It is also a potential carcinogen.

Market Dynamics

Significant growth of the agriculture sector is expected to boost demand for paraformaldehyde, thereby boosting growth of the global paraformaldehyde market. Paraformaldehyde is depolymerized to be used as a fumigant, disinfectant, fungicide, and fixative. Paraformaldehyde is also used for the production of thermoplastics. Therefore, significant demand for thermoplastics from the construction sector and growing plastics industry is also expected to boost the market growth.

In the genetics sector, paraformaldehyde is used to crosslink proteins to DNA. Moreover, increasing demand for particle board, medium density fiberboard, and plywood is also expected to drive the market growth. Paraformaldehyde is also used as medical and hygienic disinfector.  Paraformaldehyde is used to produce the resinous binding material, which in turn is used in manufacturing of particle board, medium density fiberboard, and plywood by using melamine, phenol or other reactive agents.

Furthermore, paraformaldehyde is used for the synthesis of trimethylolpropane, melamine resin, urea formaldehyde resin, glycol and ion exchange resin, pentaerythritol, phenolic resin, and N-methylolacrylamide.

However, the toxic and carcinogenic nature of paraformaldehyde is expected to hinder the market growth. Moreover, paraformaldehyde is dangerous to transport.   

Market Outlook

The market in Asia Pacific driven by high consumption and production of paraformaldehyde in China. The market in India is expected to witness significant market share, owing to high use of fumigant, disinfectant, fungicide, and fixative in the country. The market is Europe is expected to witness slow growth, owing to various regulations on use of chemicals and fungicides in several member nations of the European Union. North America market for paraformaldehyde is expected to witness significant growth, owing to increasing research and development activities in the field of genetics.

Key Players

Some of the major players operating in the global paraformaldehyde market include, Alfa Aesar, Jinan Xiangrui Chemical Co., Ltd., Shanghai Orgpharma Chemical Co., Ltd., Jinan Haohua Industry Co., Ltd., Ekta International, and GFS Chemicals.