iCrowdNewswire Feb 22, 2021 2:00 PM ET
Formalin is defined as a solution of formaldehyde in water which contains 40% formaldehyde by volume or 37% formaldehyde by mass. It is an explosive, toxic, flammable, and colorless liquid. Generally, formalin contains 10-12% methanol depending on the grade. The Small amount of methanol act as a stabilizer is added to suppress oxidation & polymerization.
The increase in trend of antique furniture and wood based floors, walls is a key driving factor which expected to boost the global formalin market growth over the forecast period. Furthermore, the increase in consumption of plywood, particleboard, and the wood panel board will significantly drive the global formalin market growth during this forecast timeline. Also, the growing consumption of adhesives will positively influence the market growth. Moreover, the rise in demand for food is fuelling the growth of agriculture industry which is expected to propel the global formalin market growth. The growing interest of people towards maintenance of houses and building which is surging the consumption and application of paints and coating will support the market growth.
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Fluctuation in raw material prices is a major restraint which expected to hinder the global formalin market growth during this forecast timeline.
The Global Formalin Market is segmented into percentage of formaldehyde in Formalin such as 1-20%, 20-40%, and 40-60%. Further, market is segmented into application such as Drugs, Dye, Fertilizers, Antiseptic Perfume, Rubber Chemicals, Automotive exteriors & interiors, and others.
Also, the Global Formalin Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Thermo Scientific, Shiny Chemical Industrial Co., MarketLab, Inc.,Merck KGaA, Mirus Bio LLC, Fish Vet Forward, Editas Medicine, Sumitomo Chemicals, Georgia-Pacific Chemical, Balaji Formalin, etc.
By Percentage of Formaldehyde in Formalin
- Antiseptic Perfume
- Rubber Chemicals
- Automotive exteriors & interiors
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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