Valuation of ~USD11.5 Billion to be reached by Formaldehyde Market by 2027: TMR
The global formaldehyde market is set to record a moderate compound annual growth rate of about 3% from 2019 to 2027.
- The global formaldehyde market is set to record a moderate compound annual growth rate of about 3% from 2019 to 2027.
- The market worth in the year 2018 was about USD 8.6 billion and the steady CAGR will take it to about USD 11.5 billion by the end of the assessment period.
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Key Findings of Global Formaldehyde Market Study:
Key Drivers of Growth in Global Formaldehyde Market:
Used in a number of end-use industries such as healthcare, automotive, building and construction, personal care and cosmetics, agriculture, and chemical, formaldehyde is witnessing growth in its demand as expansion in the said industries take place. - These accounted for one-fourth of total market share in 2018.