Europe Paraformaldehyde Market Size, Share & Trends Analysis Report By Application( Agrochemicals, Resins, Medical, and Others). By Country and Growth Forecast, 2023 - 2030

Europe Paraformaldehyde Market Size, Share & Trends Analysis Report By Application( Agrochemicals, Resins, Medical, and Others). By Country and Growth Forecast, 2023 - 2030

The Europe Paraformaldehyde Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 237.46 kilo tonnes, showcasing a growth of 4.3% (2019-2022).

The utilization of paraformaldehyde in agrochemical formulations underscores its significance in sustainable farming practices, where the emphasis is placed on optimizing crop yields while minimizing environmental impact. As the agricultural sector continues to evolve, driven by the need for increased food production to feed a growing population. Therefore, the Germany market will utilize 49.94 Kilo Tonnes of Paraformaldehyde in Agrochemicals by 2030.

The Germany market dominated the Europe Paraformaldehyde Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $101.6 million by 2030. The UK market is exhibiting a CAGR of 4.6% during (2023 - 2030). Additionally, The France market would experience a CAGR of 4.4% during (2023 - 2030).

In the textile industry, paraformaldehyde-based resins are applied in textile finishing processes to impart specific properties to fabrics, such as wrinkle resistance, crease recovery, and dimensional stability. These treatments enhance textiles’ performance, appearance, and durability, making them suitable for various apparel, home textiles, and technical textile applications. The growth of the textile industry increases the demand for the paraformaldehyde.

Similarly, paraformaldehyde is a versatile chemical intermediate used to synthesize various active pharmaceutical ingredients (APIs), intermediates, and drug formulations in the pharmaceutical industry. It is used to produce vitamins, antibiotics, antihypertensive drugs, and anticancer agents. Paraformaldehyde-based compounds find applications in drug synthesis, chemical derivatization, and pharmaceutical manufacturing processes.

The biotechnology sector in Belgium drives innovation in drug discovery, biopharmaceuticals, and personalized medicine, contributing to the growth of the pharmaceutical industry. As per the International Trade Administration (ITA), Belgium’s pharmaceutical industry spends $1.64 billion (€1.5 billion) on R&D annually, equivalent to 40 percent of all private investment made in Belgium. In conclusion, the rising agriculture sector and expansion of the region’s pharmaceutical industry are propelling the market’s growth.

Based on Application, the market is segmented into Agrochemicals, Resins, Medical, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

List of Key Companies Profiled

• Ercros, S.A
• GFS Chemicals, Inc
• Evonik Industries AG (RAG-Stifung)
• Ekta International
• Chemanol (Methanol Chemical Company)
• Caldic B.V. (Advent International, L.P.)
• Merck Millipore (Merck Group)
• Alpha Chemika
• Celanese Corporation
• Thermo Fisher Scientific, Inc.

Europe Paraformaldehyde Market Report Segmentation

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Agrochemicals
• Resins
• Medical
• Others

By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe