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

Publisher Knowledge Based Value (KBV) Research
Published Mar 29, 2024
Length 90 Pages
SKU # KBV18686938

Description

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


The North America Paraformaldehyde Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 265.77 kilo tonnes, showcasing a growth of 3.9% (2019-2022).

Medical laboratories utilize paraformaldehyde as a fixative agent in tissue processing, preserving biological specimens for microscopic examination and analysis. Its ability to cross-link proteins within cells helps maintain cellular structures and prevents degradation, enabling accurate diagnosis of various diseases and conditions. Therefore, the U.S. market consumed 36.24 Kilo Tonnes of paraformaldehyde as medical uses in 2022.

The US market dominated the North America Paraformaldehyde Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $417.7 million by 2030. The Canada market is experiencing a CAGR of 5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.7% during (2023 - 2030).

The paraformaldehyde market is a vital segment of the chemical industry, driven by its diverse applications across various sectors. Paraformaldehyde, a solid polymer of formaldehyde, plays a crucial role as a versatile chemical intermediate, offering various uses and applications. One of the primary applications of paraformaldehyde is in the production of resins. Paraformaldehyde is a key raw material in synthesizing various thermosetting resins, including urea-formaldehyde, phenol-formaldehyde (phenolic), and melamine-formaldehyde resins. These resins are found to be of extensive use in industries such as construction, automotive, furniture, and electrical, where they manufacture plywood, particleboard, laminates, adhesives, coatings, and molded products.

Paraformaldehyde is utilized in agriculture as a biocide and preservative. It is commonly used in seed treatment to protect seeds from fungal and bacterial infections, improve germination rates, and enhance seedling vigor. Additionally, paraformaldehyde-based formulations are employed in soil fumigation to control soil-borne pathogens, nematodes, and weeds, improving soil health and crop yields.

The growing production of chemicals in Canada leads to increased domestic demand for paraformaldehyde. According to the Government of Canada, the chemical manufacturing subsector in Ontario produced $8.5 billion in gross domestic product (GDP) in 2022, representing 10.0% of the overall manufacturing GDP in the province or 1.1% of Ontario’s total GDP. Hence, the high sales of chemicals and increasing regional production propel 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 U.S., Mexico, Canada, and Rest of North America.

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.
North America 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)
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

90 Pages
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Paraformaldehyde Market, by Application
1.4.2 North America Paraformaldehyde Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. North America Paraformaldehyde Market, By Application
4.1 North America Agrochemicals Market, By Country
4.2 North America Resins Market, By Country
4.3 North America Medical Market, By Country
4.4 North America Others Market, By Country
Chapter 5. North America Paraformaldehyde Market, By Country
5.1 US Paraformaldehyde Market
5.1.1 US Paraformaldehyde Market, By Application
5.2 Canada Paraformaldehyde Market
5.2.1 Canada Paraformaldehyde Market, By Application
5.3 Mexico Paraformaldehyde Market
5.3.1 Mexico Paraformaldehyde Market, By Application
5.4 Rest of North America Paraformaldehyde Market
5.4.1 Rest of North America Paraformaldehyde Market, By Application
Chapter 6. Company Profiles
6.1 Ercros, S.A
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 SWOT Analysis
6.2 Ekta International
6.2.1 Company Overview
6.3 Chemanol (Methanol Chemicals Company)
6.3.1 Company Overview
6.3.2 SWOT Analysis
6.4 Caldic B.V. (Advent International, L.P.)
6.4.1 Company Overview
6.4.2 SWOT Analysis
6.5 Alpha Chemika
6.5.1 Company Overview
6.5.2 SWOT Analysis
6.6 GFS Chemicals, Inc.
6.6.1 Company Overview
6.6.2 SWOT Analysis
6.7 Merck Millipore (Merck Group)
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.7.4 Research & Development Expense
6.8 Celanese Corporation
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expenses
6.8.5 SWOT Analysis
6.9 Evonik Industries AG (RAG-Stiftung)
6.9.1 Company Overview
6.9.2 Financial Analysis
6.9.3 Segmental and Regional Analysis
6.9.4 Research & Development Expenses
6.9.5 SWOT Analysis
6.10. Thermo Fisher Scientific, Inc.
6.10.1 Company Overview
6.10.2 Financial Analysis
6.10.3 Segmental and Regional Analysis
6.10.4 Research & Development Expenses
6.10.5 SWOT Analysis

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