Global Formaldehyde Market – Industry Analysis

Global Formaldehyde Market was valued US$ 24.59 Bn in 2019 and is expected to reach US$ 36.61 Bn by 2027, at a CAGR of 5.1 % during a forecast period 2020-2027.
Formaldehyde is produced from methanol, which is the primary raw material. However, the fluctuating prices of methanol pose difficulty for the manufacturers of both methanol and formaldehyde. With the increasing demand for formaldehyde, it is important to develop new production technologies for formaldehyde, which do not use methanol. Formaldehyde is an organic compound with the molecular formula HCHO. It is highly reactive and gets polymerized easily; hence, it is Solventsly available in the form of an aqueous solution called formalin, which contains 37-55 wt% formaldehyde along with 7-25 wt% methanol.

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