In Asia, the Formaldehyde market displayed a blend of price dynamics during the initial half of 2023. An ascent in the first quarter was propelled by China’s resurging market and elevated demands from Chemical and Electrical sectors. However, inventory overflow resulting from brisk production and waning downstream demand led to a decline in prices. Decreased upstream costs, including feedstock expenses and normalized energy and transportation costs, further impacted prices. Europe’s Formaldehyde market remained lacklustre due to sluggish downstream demand and reduced upstream costs, while North America mirrored Asia’s pattern, with prices aligning with fluctuating market demand.
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Definition
Formaldehyde is a colorless, pungent-smelling chemical compound composed of carbon, hydrogen, and oxygen. It’s used extensively in various industries, including manufacturing, construction, and healthcare. Primarily known for its preservative and disinfectant properties, formaldehyde also serves as a key ingredient in producing resins, plastics, textiles, and other materials.
Key Details About the Formaldehyde Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Formaldehyde in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Formaldehyde Price chart, including India Formaldehyde price, USA Formaldehyde price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Formaldehyde Price Trend:
Formaldehyde finds diverse industrial applications, serving as a crucial ingredient in producing adhesives, resins, and textiles. It plays a pivotal role in manufacturing plastics, paints, and coatings, while also being employed in wood preservation and as a disinfectant. Furthermore, it’s integral in healthcare for embalming and medical disinfection processes.
Key Players:
- BASF SE
- Perstorp Holding AB
- Alder S.p.A
- Celanese Corporation
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