The Formaldehyde Market was worth USD 13.58 billion in 2014 and is expected to reach approximately USD 26.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.61 % during the forecast period.Ask For Customization:[URL]https://www.crystalmarketresearch.com/customization/CM12406[/URL]
Lucrative growth in construction and furniture industry coupled with more number of applications in Asia Pacific region is anticipated to be the crucial market driver during the forthcoming years. Construction was the biggest end user market for formaldehyde with major demand in the year 2013.
Amongst the application segment, UF Resins led the global market with respect to volume and revenue, by attributing more than quarter of the global market volume in the past. PF resins are anticipated to be the most rapidly growing application segment during the forecast period.
Developing markets in Middle East and Africa, Latin America are predicted to experience lucrative growth at a significant CAGR between 2014 and 2023. The recovering market of North America has portrayed some key signs of constant and steady demand on several segments.
To Grab the Complete Report, Please Visit:[URL]https://www.crystalmarketresearch.com/report/formaldehyde-market[/URL]
Alteration in the raw material prices along with the rising consumer awareness pertaining to ill effects of formaldehyde is anticipated to be a tough challenge for the global market during the forecast period. Moreover, strict regulations related to the environment on emissions of formaldehyde from several wood products are predicted to further hamper the growth of the market in the future.
Some of the major market players of formaldehyde market are Dynea Oy,BASF,Bayer Cropscience Limited,Georgia-Pacific,Momentive Specialty Chemical Inc,Huntsman Corporation and Formox AB.
Download Sample Copy of the Report:[URL]http://bit.ly/2ADkl6d[/URL]