(MENAFN- EIN Presswire) Paraformaldehyde market by Region
The medical segment is projected to register the fastest CAGR of 6.2% during the forecast period, due to rise in demand as a hygienic & medical disinfector.
PORTLAND, OREGON, UNITED STATES, May 19, 2023 /einpresswire.com / -- The medical segment is projected to register the fastest CAGR of 6.2% during the forecast period, due to rise in demand as a hygienic & medical disinfector in medicine and the Pharmaceutical sector. However, the agrochemicals segment held the largest share in 2020, accounting for more than two-fifths of the global paraformaldehyde market , due to surge in population and consumer preference for staple crops and demand for higher quality and more quantitative products.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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The global paraformaldehyde market across Asia-Pacific, followed by North America, held the largest share in 2020, contributing to nearly three-fifths of the market, owing to increasing production of paraformaldehyde in China. However, the market across LAMEA is expected to register the fastest CAGR of 6.6% during the forecast period, due to increased production of laminates, pentaerythritol, MDI, and wood panels.
This makes it important to understand the practical implications of the Paraformaldehyde market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
Rise in need for paraformaldehyde to synthesize disinfectants, fixatives, fumigants, and fungicides has boosted the growth of the global paraformaldehyde market.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Alpha Chemika, Caldic, CELANESE CORPORATION, Chemanol, Ekta International, Ercros, GFS Chemical, Merck Group, THERMO FISHER SCIENTIFIC, Thana Acid & Chemical Company. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
Rise in need for paraformaldehyde to synthesize disinfectants, fixatives, fumigants, and fungicides has boosted the growth of the global paraformaldehyde market. However, the health effects of paraformaldehyde hinder the market growth. On the contrary, rise in inclination toward organic chemical synthesis, printing and photography, fertilizers, and fluorescent light products unlock new opportunities in the future.
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The current situation of pandemic makes it very important for the stakeholders in the Paraformaldehyde market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
As per the report, the global paraformaldehyde industry was pegged at $1.6 billion in 2020 and is projected to reach $2.8 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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