Top 5 Vendors in the Paraformaldehyde Market from 2017 to 2021: Technavio

September 12, 2017

LONDON–(BUSINESS WIRE)–#Research—Technavio
has announced the top five leading vendors in their recent global
paraformaldehyde market report. This research report also
lists 13 other prominent vendors that are expected to impact the market
during the forecast period.

Paraformaldehyde is obtained by the polymerization of formaldehyde. It
is a white crystalline solid. Though it is a soluble alkali, it is
insoluble in alcohol, ether, and water. It has the odor of formaldehyde
because of decomposition. Paraformaldehyde is generally prepared with
purity concentration of 91% or 93% by weight. Paraformaldehyde is used
in a variety of applications. Agrochemicals and resins are the key
drivers of the market. They are used in the production of resins such as
ion exchange resins and melamine resins.

The shipping industry was stagnant in the past but has been registering
growth in the past few years. There is an increasing demand for power
boats, sail boats, cruise ships, and speed boats, which has led to an
increase in marine traffic. In 2016, the world commercial fleet
comprised more than 90,000 vessels. The high demand for power boats,
sail boats, and others will drive the demand for resins.

Competitive vendor landscape

“The market is characterized by dedicated vendors engaged in the
production of paraformaldehyde.
Increasing growth rate of the market will attract new vendors. The
threat of rivalry is currently moderate but can increase in the coming
years. A majority of the vendors are located in APAC, especially in
China,” says Shakeel Iqbal, a lead specialty
chemicals research analyst from Technavio.

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Top five paraformaldehyde market vendors

Celanese

Celanese manufactures intermediate chemicals, cellulose derivatives,
emulsion polymers, ethylene vinyl acetate (EVA) polymers, food
ingredients, and engineered materials. It offers products to industries
such as adhesives, agriculture, building and construction, consumer
goods, food and beverage (F&B), medical and pharma, oil, gas and mining,
personal care and cosmetics, and textiles.

Chemanol

Chemanol is also known as Methanol Chemicals Company. It manufactures
premium grade methanol derivatives, formaldehyde derivatives, super
plasticizers, and various amino resins. The products are used in
applications such as agricultural fertilizers, pharmaceuticals, paper
manufacturing, and production of various types of concrete.

Ercros

Ercros operates in three business segments: chlorine derivatives,
intermediate chemicals, and pharmaceuticals. The intermediate chemicals
division is the second highest contributor to the company's revenue. In
2016, the segment generated revenues worth USD 178.67 million.

INEOS

Ineos Paraform is one of the several business units of the company. The
production site is located at Mainz, Germany. The production unit serves
the merchant market and manufactures formaldehyde derivatives,
paraformaldehyde, hexamine, and dimethoxymethane.

PT. Dover Chemical

PT. Dover Chemical manufactures formaldehyde, formaldehyde resins, and
adhesives. The company offers paraformaldehyde in the powder form. Thus,
it has higher consistency and solubility than granules and flakes.

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