The Europe Formalin Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 3,486.5 Kilo Tonnes, showcasing a growth of 3.8% (2019-2022).
Formalin is instrumental in the textile industry, where it is used to produce wrinkle-resistant fabrics. The cross-linking properties of formalin help create durable and low-maintenance textiles, catering to consumer preferences for long-lasting and easy-care clothing. Cross-linking involves the formation of chemical bonds between polymer chains, imparting enhanced strength and stability to the fabric. In the context of textiles, formalin-treated fabrics exhibit greater resistance to wear and tear, resulting in increased durability.
Furthermore, one of the primary advantages of using formalin in textile production is its contribution to wrinkle resistance. The cross-linking of fibers through formalin treatment minimizes the propensity of fabrics to crease and wrinkle, even after prolonged use. This is particularly significant in the fashion industry, where consumer preferences lean towards garments that maintain a smooth and polished appearance without needing frequent ironing or specialized care. Likewise, formalin-treated textiles align with the growing demand for low-maintenance clothing. Consumers today seek garments requiring minimal effort in care and upkeep. Wrinkle-resistant fabrics produced with formalin cater to this preference, offering clothing that remains presentable and neat with less reliance on ironing or meticulous handling. This characteristic resonates with busy lifestyles and contributes to the convenience of modern wardrobes.
As per the data from Eurostat, in 2022, the value of sold production in the European Union amounted to €6,179 billion, an increase of 19 % compared with €5,209 billion in 2021. Germany comprised the highest value of sold production, equivalent to 26 % of the EU total, followed by Italy (19 %), France (11 %), Spain (8 %), Poland (6 %) and the Netherlands (4 %). Therefore, the growing industrial sector in Europe will increase manufacturing processes in the region's countries. An increase in manufacturing will lead to a rise in demand for formalin as it is used in making adhesives, plastics, resins, etc. Hence, these factors will boost the demand in the regional market.
The Germany market dominated the Europe Formalin Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $682 million by 2030. The UK market is registering a CAGR of 4% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 5.7% during (2023 - 2030).
Based on Application, the market is segmented into Fertilizer, Automotive, Dyes, Drugs, Antiseptic Perfume, Rubber Chemicals and Others. Based on Percentage, the market is segmented into 1.0%-20.0%, 20.0%-40.0%, and 40.0% - 60.0%. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Formalin Market will Hit $11.5 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include BASF SE, 3M Company, Bayer AG, Celanese Corporation, DuPont de Nemours, Inc., Georgia-Pacific LLC (Koch Industries, Inc), Huntsman Corporation, Merck KGaA, Sumitomo Chemical Co., Ltd., and Thermo Fisher Scientific, Inc.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Percentage
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 