Asia and Latin America Offer a Great Potential for Formaldehyde Market Growth
According to the research ‘Formaldehyde: 2009 World Market Outlook AND Forecast’ by Merchant Research & consulting, world formaldehyde market will be growing around 3% a year with Asia Pacific and Latin America being the major consuming markets, while now the largest markets are Europe, North America and China.
In Western Europe, markets are mature. Eastern Europe demand is growing at upper levels. The wood panel industry is moving eastwards in Europe, the reasons are low manufacturing costs and a variety of low cost raw materials. The furniture manufacturing factories are being relocated to eastern Europe as well.
The formaldehyde market in North America is less than half that of Europe. The housing market and construction industry were the most significant drivers for formaldehyde growth. USA construction market is currently down, that affects formaldehyde demand.
Formaldehyde demand is expected to grow by around 1,5% a year in Western Europe, and by 1.2% in North America. Asian market (especially China) will grow on above-average levels.
More detailed overview of Formaldehyde market, its tendencies and perspectives can be found in the report ‘Formaldehyde: 2009 World Market Outlook AND Forecast’ by Merchant Research and Consulting.
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