Formalin Market Report: Trends, Forecast and Competitive Analysis to 2030

Formalin Trends and Forecast

The future of the global formalin market looks promising with opportunities in the automotive, drug, dye, fertilizer, antiseptic perfume, and rubber chemical markets. The global formalin market is expected to reach an estimated $12.3 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are rising use of this substrate as disinfectant and preservative and expanding demand for this chemical in various industries, such as healthcare, laboratories, agriculture, and cosmetics.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Formalin by Segment

The study includes a forecast for the global formalin by percentage, application, and region.

Formalin Market by Percentage [Shipment Analysis by Value from 2018 to 2030]:

• 1.0%-20.0%
• 20.0%-40.0%
• 40.0% - 60.0%

Formalin Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• Drugs
• Dyes
• Fertilizer
• Antiseptic Perfume
• Rubber Chemicals
• Others

Formalin Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Formalin Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies formalin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the formalin companies profiled in this report include-

• BASF
• 3M
• Balaji Formalin Private Limited
• Bayer
• Celanese Corporation
• DuPont
• Dynea
• Georgia-Pacific Chemicals
• Huntsman International
• Merck

Formalin Market Insights

Lucintel forecasts that 1.0%-20.0% will remain the largest segment over the forecast period as it is an affordable and well-received solution for the pharmaceutical & fertilizer industries.

Within this market, fertilizer will remain the largest segment over the forecast period.

APAC will remain the largest region over the forecast period due to rapid population growth and increasing usage of formalin in dyes, antiseptic, and drugs in the region.

Features of the Global Formalin Market

Market Size Estimates: Formalin market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Formalin market size by percentage, application, and region in terms of value ($B).

Regional Analysis: Formalin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different percentages, applications, and regions for the formalin market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the formalin market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the formalin market size?

Answer: The global formalin market is expected to reach an estimated $12.3 billion by 2030.

Q2. What is the growth forecast for formalin market?

Answer: The global formalin market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the formalin market?

Answer: The major drivers for this market are rising use of this substrate as disinfectant and preservative and expanding demand for this chemical in various industries, such as healthcare, laboratories, agriculture, and cosmetics.

Q4. What are the major segments for formalin market?

Answer: The future of the formalin market looks promising with opportunities in the automotive, drug, dye, fertilizer, antiseptic perfume, and rubber chemical markets.

Q5. Who are the key formalin market companies?

Answer: Some of the key formalin companies are as follows:

• BASF
• 3M
• Balaji Formalin Private Limited
• Bayer
• Celanese Corporation
• DuPont
• Dynea
• Georgia-Pacific Chemicals
• Huntsman International
• Merck

Q6. Which formalin market segment will be the largest in future?

Answer: Lucintel forecasts that 1.0%-20.0% will remain the largest segment over the forecast period as it is an affordable and well-received solution for the pharmaceutical & fertilizer industries.

Q7. In formalin market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rapid population growth and increasing usage of formalin in dyes, antiseptic, and drugs in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the formalin market by percentage (1.0%-20.0%, 20.0%-40.0%, and 40.0% - 60.0%), application (automotive, drugs, dyes, fertilizer, antiseptic perfume, rubber chemicals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?