The global formalin industry was estimated at $6.9 billion in 2020, and is anticipated to hit $11.7 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030.
Allied Market Research published a report, titled, "Formalin Market by Percentage (1.0%-20.0%, 20.0%-40.0%, and 40.0% - 60.0) and Application (Automotive, Drugs, Dyes, Fertilizer, Antiseptic Perfume, Rubber chemicals and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030."
Access Full Summary Report: https://www.alliedmarketresearch.com/formalin-market-A13655
Drivers, restraints, and opportunities-
Rise in the usage of adhesives and increase in application of formalin drive the growth of the global formalin market. On the other hand, government regulations on usage and manufacturing of formalin impede the growth to some extent. However, surge in demand for formalin from the agricultural industry is expected to create lucrative opportunities in the industry.
Key players in the industry-
- 3M
- BASF SE
- Bayer AG
- Celanese Corporation
- DuPont
- Balaji
- Formalin Private Limited
- Dynea AS
- Huntsman International LLC
- Merck KGaA
- Georgia-Pacific Chemicals
