Global Formaldehyde Market 2023-2027

Global Formaldehyde Market 2023-2027

Technavio has been monitoring the formaldehyde market and it is poised to grow by 10.15 mn t during 2023-2027, accelerating at a CAGR of 6.86% during the forecast period. Our report on the formaldehyde market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth in the construction industry, high production and consumption of formaldehyde in China, and growth in the automotive industry.

Technavio's formaldehyde market is segmented as below:

By Derivative Type

  • Urea-formaldehyde
  • Phenol formaldehyde
  • Melamine formaldehyde
  • Polyoxymethylene
  • Others
By End-user
  • Construction and furniture
  • Automotive
  • Others
By Geographical Landscape
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa
This study identifies the advances in technology as one of the prime reasons driving the formaldehyde market growth during the next few years. Also, new production plants and capacity expansion of formaldehyde and formaldehyde for fuel production will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the formaldehyde market covers the following areas:
  • Formaldehyde market sizing
  • Formaldehyde market forecast
  • Formaldehyde market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading formaldehyde market vendors that include Akzo Nobel NV, Ashland Inc., BASF SE, Bitrez Ltd., Celanese Corp., Dynea AS, Ercros SA, GEO Specialty Chemicals Inc., Hexion Inc., Hindustan Organic Chemicals Ltd., INEOS Group Holdings SA, Koch Industries Inc., Lanxess AG, LCY Chemical Corp., Methanol Chemicals Co., Perstorp Holding AB, Polisan Holding AS, and Thermo Fisher Scientific Inc. Also, the formaldehyde market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary - Chart on Market Overview
      • Table Executive Summary - Data Table on Market Overview
      • Table Executive Summary - Chart on Global Market Characteristics
      • Table Executive Summary - Chart on Market by Geography
      • Table Executive Summary - Chart on Market Segmentation by Derivative Type
      • Table Executive Summary - Chart on Market Segmentation by End-user
      • Table Executive Summary - Chart on Incremental Growth
      • Table Executive Summary - Data Table on Incremental Growth
      • Table Executive Summary - Chart on Vendor Market Positioning
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market Characteristics
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2022
    • Market outlook: Forecast for 2022-2027
      • Table Chart on Global - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Global - Market size and forecast 2022-2027 (million t)
      • Table Chart on Global Market- Year-over-year growth 2022-2027 (%)
      • Table Data Table on Global Market- Year-over-year growth 2022-2027 (%)
  • Historic Market Size
    • Global formaldehyde market 2017 - 2021
      • Table Historic Market Size - Data table on global formaldehyde market 2017 - 2021 (million t)
    • Derivative type Segment Analysis 2017 - 2021
      • Table Historic Market Size - Derivative type Segment 2017 - 2021 (million t)
    • End-user Segment Analysis 2017 - 2021
      • Table Historic Market Size - End-user Segment 2017 - 2021 (million t)
    • Geography Segment Analysis 2017 - 2021
      • Table Historic Market Size - Geography Segment 2017 - 2021 (million t)
    • Country Segment Analysis 2017 - 2021
      • Table Historic Market Size - Country Segment 2017 - 2021 (million t)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis - Comparison between 2022 and 2027
    • Bargaining power of buyers
      • Table Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers - Impact of key factors in 2022 and 2027
    • Threat of new entrants
      • Table Threat of new entrants - Impact of key factors in 2022 and 2027
    • Threat of substitutes
      • Table Threat of substitutes - Impact of key factors in 2022 and 2027
    • Threat of rivalry
      • Table Threat of rivalry - Impact of key factors in 2022 and 2027
    • Market condition
      • Table Chart on Market condition - Five forces 2022 and 2027
  • Market Segmentation by Derivative Type
    • Market segments
      • Table Chart on Derivative Type - Market share 2022-2027 (%)
      • Table Data Table on Derivative Type - Market share 2022-2027 (%)
    • Comparison by Derivative Type
      • Table Chart on Comparison by Derivative Type
      • Table Data Table on Comparison by Derivative Type
    • Urea formaldehyde - Market size and forecast 2022-2027
      • Table Chart on Urea formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Urea formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Chart on Urea formaldehyde - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Urea formaldehyde - Year-over-year growth 2022-2027 (%)
    • Phenol formaldehyde - Market size and forecast 2022- 2027
      • Table Chart on Phenol formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Phenol formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Chart on Phenol formaldehyde - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Phenol formaldehyde - Year-over-year growth 2022-2027 (%)
    • Melamine formaldehyde - Market size and forecast 2022- 2027
      • Table Chart on Melamine formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Melamine formaldehyde - Market size and forecast 2022-2027 (million t)
      • Table Chart on Melamine formaldehyde - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Melamine formaldehyde - Year-over-year growth 2022-2027 (%)
    • Polyoxymethylene - Market size and forecast 2022-2027
      • Table Chart on Polyoxymethylene - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Polyoxymethylene - Market size and forecast 2022-2027 (million t)
      • Table Chart on Polyoxymethylene - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Polyoxymethylene - Year-over-year growth 2022-2027 (%)
    • Others - Market size and forecast 2022-2027
      • Table Chart on Others - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Others - Market size and forecast 2022-2027 (million t)
      • Table Chart on Others - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Others - Year-over-year growth 2022-2027 (%)
    • Market opportunity by Derivative Type
      • Table Market opportunity by Derivative Type (million t)
  • Market Segmentation by End-user
    • Market segments
      • Table Chart on End-user - Market share 2022-2027 (%)
      • Table Data Table on End-user - Market share 2022-2027 (%)
    • Comparison by End-user
      • Table Chart on Comparison by End-user
      • Table Data Table on Comparison by End-user
    • Construction and furniture - Market size and forecast 2022-2027
      • Table Chart on Construction and furniture - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Construction and furniture - Market size and forecast 2022-2027 (million t)
      • Table Chart on Construction and furniture - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Construction and furniture - Year-over-year growth 2022-2027 (%)
    • Automotive - Market size and forecast 2022-2027
      • Table Chart on Automotive - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Automotive - Market size and forecast 2022-2027 (million t)
      • Table Chart on Automotive - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Automotive - Year-over-year growth 2022-2027 (%)
    • Others - Market size and forecast 2022-2027
      • Table Chart on Others - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Others - Market size and forecast 2022-2027 (million t)
      • Table Chart on Others - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Others - Year-over-year growth 2022-2027 (%)
    • Market opportunity by End-user
      • Table Market opportunity by End-user (million t)
  • Customer Landscape
    • Customer landscape overview
      • Table Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Geographic Landscape
    • Geographic segmentation
      • Table Chart on Market share by geography 2022-2027 (%)
      • Table Data Table on Market share by geography 2022-2027 (%)
    • Geographic comparison
      • Table Chart on Geographic comparison
      • Table Data Table on Geographic comparison
    • APAC - Market size and forecast 2022-2027
      • Table Chart on APAC - Market size and forecast 2022-2027 (million t)
      • Table Data Table on APAC - Market size and forecast 2022-2027 (million t)
      • Table Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Table Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • North America - Market size and forecast 2022-2027
      • Table Chart on North America - Market size and forecast 2022-2027 (million t)
      • Table Data Table on North America - Market size and forecast 2022-2027 (million t)
      • Table Chart on North America - Year-over-year growth 2022-2027 (%)
      • Table Data Table on North America - Year-over-year growth 2022-2027 (%)
    • Europe - Market size and forecast 2022-2027
      • Table Chart on Europe - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Europe - Market size and forecast 2022-2027 (million t)
      • Table Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • South America - Market size and forecast 2022-2027
      • Table Chart on South America - Market size and forecast 2022-2027 (million t)
      • Table Data Table on South America - Market size and forecast 2022-2027 (million t)
      • Table Chart on South America - Year-over-year growth 2022-2027 (%)
      • Table Data Table on South America - Year-over-year growth 2022-2027 (%)
    • Middle East and Africa - Market size and forecast 2022- 2027
      • Table Chart on Middle East and Africa - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million t)
      • Table Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • China - Market size and forecast 2022-2027
      • Table Chart on China - Market size and forecast 2022-2027 (million t)
      • Table Data Table on China - Market size and forecast 2022-2027 (million t)
      • Table Chart on China - Year-over-year growth 2022-2027 (%)
      • Table Data Table on China - Year-over-year growth 2022-2027 (%)
    • US - Market size and forecast 2022-2027
      • Table Chart on US - Market size and forecast 2022-2027 (million t)
      • Table Data Table on US - Market size and forecast 2022-2027 (million t)
      • Table Chart on US - Year-over-year growth 2022-2027 (%)
      • Table Data Table on US - Year-over-year growth 2022-2027 (%)
    • India - Market size and forecast 2022-2027
      • Table Chart on India - Market size and forecast 2022-2027 (million t)
      • Table Data Table on India - Market size and forecast 2022-2027 (million t)
      • Table Chart on India - Year-over-year growth 2022-2027 (%)
      • Table Data Table on India - Year-over-year growth 2022-2027 (%)
    • Russia - Market size and forecast 2022-2027
      • Table Chart on Russia - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Russia - Market size and forecast 2022-2027 (million t)
      • Table Chart on Russia - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Russia - Year-over-year growth 2022-2027 (%)
    • Germany - Market size and forecast 2022-2027
      • Table Chart on Germany - Market size and forecast 2022-2027 (million t)
      • Table Data Table on Germany - Market size and forecast 2022-2027 (million t)
      • Table Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Table Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • Market opportunity by geography
      • Table Market opportunity by geography (million t)
  • Drivers, Challenges, and Trends
    • Market drivers
      • Growth in construction industry
      • High production and consumption of formaldehyde in China
      • Growth in automotive industry
    • Market challenges
      • Fluctuating price of methanol
      • Stringent regulations on formaldehyde emissions
      • Formaldehyde-free products
    • Impact of drivers and challenges
      • Table Impact of drivers and challenges in 2022 and 2027
    • Market trends
      • Advances in technology
      • New production plants and capacity expansion of formaldehyde
      • Formaldehyde for fuel production
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Overview on Criticality of inputs and Factors of differentiation
    • Landscape disruption
      • Table Overview on factors of disruption
    • Industry risks
      • Table Impact of key risks on business
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Matrix on vendor position and classification
    • Akzo Nobel NV
      • Table Akzo Nobel NV - Overview
      • Table Akzo Nobel NV - Business segments
      • Table Akzo Nobel NV - Key news
      • Table Akzo Nobel NV - Key offerings
      • Table Akzo Nobel NV - Segment focus
    • Ashland Inc.
      • Table Ashland Inc. - Overview
      • Table Ashland Inc. - Business segments
      • Table Ashland Inc. - Key news
      • Table Ashland Inc. - Key offerings
      • Table Ashland Inc. - Segment focus
    • BASF SE
      • Table BASF SE - Overview
      • Table BASF SE - Business segments
      • Table BASF SE - Key news
      • Table BASF SE - Key offerings
      • Table BASF SE - Segment focus
    • Celanese Corp.
      • Table Celanese Corp. - Overview
      • Table Celanese Corp. - Business segments
      • Table Celanese Corp. - Key offerings
      • Table Celanese Corp. - Segment focus
    • Dynea AS
      • Table Dynea AS - Overview
      • Table Dynea AS - Product / Service
      • Table Dynea AS - Key offerings
    • Ercros SA
      • Table Ercros SA - Overview
      • Table Ercros SA - Business segments
      • Table Ercros SA - Key offerings
      • Table Ercros SA - Segment focus
    • GEO Specialty Chemicals Inc.
      • Table GEO Specialty Chemicals Inc. - Overview
      • Table GEO Specialty Chemicals Inc. - Business Segments
      • Table GEO Specialty Chemicals Inc. - Key offerings
    • Hexion Inc.
      • Table Hexion Inc. - Overview
      • Table Hexion Inc. - Business segments
      • Table Hexion Inc. - Key news
      • Table Hexion Inc. - Key offerings
      • Table Hexion Inc. - Segment focus
    • INEOS Group Holdings SA
      • Table INEOS Group Holdings SA - Overview
      • Table INEOS Group Holdings SA - Business segments
      • Table INEOS Group Holdings SA - Key offerings
      • Table INEOS Group Holdings SA - Segment focus
    • Koch Industries Inc.
      • Table Koch Industries Inc. - Overview
      • Table Koch Industries Inc. - Product / Service
      • Table Koch Industries Inc. - Key news
      • Table Koch Industries Inc. - Key offerings
    • Lanxess AG
      • Table Lanxess AG - Overview
      • Table Lanxess AG - Business segments
      • Table Lanxess AG - Key offerings
      • Table Lanxess AG - Segment focus
    • LCY Chemical Corp.
      • Table LCY Chemical Corp. - Overview
      • Table LCY Chemical Corp. - Product / Service
      • Table LCY Chemical Corp. - Key offerings
    • Methanol Chemicals Co.
      • Table Methanol Chemicals Co. - Overview
      • Table Methanol Chemicals Co. - Product / Service
      • Table Methanol Chemicals Co. - Key offerings
    • Perstorp Holding AB
      • Table Perstorp Holding AB - Overview
      • Table Perstorp Holding AB - Business segments
      • Table Perstorp Holding AB - Key news
      • Table Perstorp Holding AB - Key offerings
      • Table Perstorp Holding AB - Segment focus
    • Thermo Fisher Scientific Inc.
      • Table Thermo Fisher Scientific Inc. - Overview
      • Table Thermo Fisher Scientific Inc. - Business segments
      • Table Thermo Fisher Scientific Inc. - Key news
      • Table Thermo Fisher Scientific Inc. - Key offerings
      • Table Thermo Fisher Scientific Inc. - Segment focus
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
      • Table Inclusions checklist
      • Table Exclusions checklist
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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