Formaldehyde Scavengers Market – Global Industry Analysis, Size, Share, Trends and Forecast 2014 – 2020
Formaldehyde scavengers are widely used in order to reduce emissions from wood products. Formaldehyde scavengers are used in lowering the emissions in both the manufacturing of medium density fiberboard and particle board and also in finished products. Prolonged formaldehyde emissions can have potential health hazards and hence it becomes imperative to control these emissions. Formaldehyde scavengers have been used to lower formaldehyde emissions in several wood, paper and textile industries.
The demand for Formaldehyde scavengers is expected to witness strong growth in the next few years on account of increasing stringent regulations pertaining to formaldehyde emissions. Formaldehyde scavengers help reduce the emissions during the production of wood based panels and also reduce harmful formaldehyde emissions from finished products. Growth in demand for wood based panels is expected to be one of the major driving factors for formaldehyde scavengers.
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In the paper industry, formaldehyde scavengers are added to resin finishing baths in order to reduce formaldehyde emissions from finished paper, cured fabrics and lower formaldehyde odor from processing areas. Formaldehyde scavengers are also used for lowering formaldehyde emissions in the textile and leather industry. The demand for formaldehyde scavengers is expected to emulate from the growing textiles industry globally. The recent emergence of middle-class and growth in the disposable income particularly in countries such as China and India has led to an increase in demand for textiles. This high demand for textiles is anticipated to further drive the demand for formaldehyde scavengers in the near future. The demand for formaldehyde scavengers is also expected to be augmented by the increasing stringent regulations put forth by legislative bodies such as REACH and EPA for formaldehyde emissions.
Growing construction industry is also projected to be one of the main demand drivers for formaldehyde scavengers. Growing construction activity and increasing use of wood panels for several household furniture applications is anticipated to be one of the primary drivers for formaldehyde scavengers in the next few years. Increasing investments in constructions in regions such as Middle East, Asia and Latin America and the revival of the American housing sector is expected to provide a major boot for formaldehyde scavenger market.
In terms of demand Asia Pacific was the largest consumer of formaldehyde scavengers followed by North America, Europe and Rest of the World. In North America U.S was the largest market for formaldehyde scavengers followed by Mexico and Canada. This high demand for formaldehyde scavengers stems from the growing demand for wood composite products from various construction applications in this region. The demand for formaldehyde scavengers is also projected to witness strong growth in European countries such as Germany, France, U.K, Italy etc. on account of strict regulations implied by regulatory bodies such as REACH etc.. The demand for formaldehyde scavengers is also anticipated to witness strong growth in the Asia Pacific countries such as China, India, Indonesia etc. With growing industrial and construction activities in these regions the demand for formaldehyde scavengers is also expected to grow on similar lines. The economic conditions of Brazil, Russia and South Africa are on similar track and hence the demand for formaldehyde scavengers is also projected to be high in these countries.
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Some of the major companies operating in the global formaldehyde scavengers market are StarChem LLC, Georgia-Pacific Chemicals LLC, Emerald Performance Materials LLC, and Dow Chemical Company among others.
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