- The key vendors in the Global Formaldehyde Market 2015-2019 are BASF SE, Celanese Corp., Dynea A/S, Georgia-Pacific LLC, Johnson Matthey plc and Momentive Specialty Chemicals Inc.
London, 31 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Formaldehyde Market 2015-2019. An increase in the demand for formaldehyde in China because of the significant economic and industrial development is a major trend in this market. China is expected to account for more than half of the total demand for formaldehyde and its derivatives in the Global Formaldehyde market during the forecast period owing to the rapid growth in the Automotive and Construction industries. The Global Formaldehyde market is expected to grow at a CAGR of 5.68 percent on the basis of volume during the period of 2014-2019.
“Consumers are increasingly focusing on formaldehyde-free products than formaldehyde-based wood products, resulting in the decline in the demand from the Wood and Construction industries in Europe,” says Faisal Ghaus, Vice President of TechNavio Research.
“Manufacturers of formaldehyde in the Global Formaldehyde market have increased their expenditure in R&D to develop less costly production processes of formaldehyde owing to the increasing production capacity in the APAC region and the reducing prices of formaldehyde derivatives worldwide.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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