Formaldehyde Market Trends, Demand, Opportunity and Forecast

Summary

Technavio Announces the Publication of its Research Report – Global Formaldehyde Market 2016-2020

Technavio recognizes the following companies as the key players in the global formaldehyde market: BASF, Bayer, Celanese, Dynea, and Perstorp.

Other Prominent Vendors in the market are: AkzoNobel, Georgia-Pacific, Johnson Matthey, Momentive Specialty Chemicals, and Synthite.

Commenting on the report, an analyst from Technavio’s team said: “One trend which is expected to boost market growth is the alternative uses for formaldehyde, especially for fuel production. The use of formaldehyde for fuel production is one of the minor trends being witnessed by the global formaldehyde market, especially in China. Many countries are seeking newer sources to cheaper oil owing. This has increased the R&D for natural substitutes and newer approaches for producing traditional fuels at lower costs. Formaldehyde is being tested by various companies in China as it can be used as a chemical intermediate for producing fuel from coal. The development and application of this process are still in the nascent stage and will have a significant impact on the growth of the market if commercialized successfully during the forecast period.”

Browse full report with TOC@ https://marketreportscenter.com/reports/344157/global-formaldehyde-market-2016-2020

According to the report, a key growth driver is the growing use of plastics in the automotive industry. Auto ancillaries including dashboards, wheel covers, lights, and door handles are being made of molded plastics owing to their lightweight and high strength compared to their metal counterparts. The substitution of metals by molded plastics in vehicles is due to the increased emphasis on the manufacture of lightweight automotive for increased efficiency. Formaldehyde is crucial material for producing various plastic products and is been extensively used to produce industrially significant raw materials for manufacturing...