Paraformaldehyde Market : Analysis, Opportunities, Regional and Forecast by 2031
The global paraformaldehyde market is gaining traction owing to its increasing application in various industries such as agriculture, pharmaceuticals, and chemicals. Paraformaldehyde, a polymer of formaldehyde, is commonly used as a disinfectant, fixative, fungicide , and intermediate in chemical synthesis. According to market projections, the paraformaldehyde market is anticipated to reach USD 853.9 million by 2031 , growing from USD 593.4 million in 2023 , at a CAGR of 4.6% during the forecast period (2023–2031) . Market Drivers One of the major drivers of the paraformaldehyde market is its extensive usage in agrochemicals. It plays a vital role in the production of herbicides, pesticides, and fungicides. With the rising demand for food security and agricultural productivity, especially in emerging economies, the use of agrochemicals is increasing, thereby positively impacting the paraformaldehyde demand. Another significant driver is the pharmaceutical industry's relianc...