The Latin America, Middle East and Africa Formalin Market would witness market growth of 7.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 2,822.6 Kilo Tonnes, showcasing a growth of 7.4% (2023-2030).
The formalin manufacturing process has undergone significant advancements, driven by technological innovations. Continuous efforts are underway to develop more efficient and environmentally friendly production methods. The primary objectives of these advancements are to mitigate waste generation, streamline energy consumption, and improve the overall sustainability of formalin manufacturing. Its formulations that are specifically formulated for given applications are increasingly being adopted. This phenomenon signifies an increasing recognition of the varied requirements of the manufacturing, agriculture, and healthcare sectors.
Formulations with optimized properties, such as lower volatility or enhanced compatibility with certain materials, are increasingly prevalent. It is finding applications in emerging industries, such as biotechnology and nanotechnology. Its role in synthesizing specialty chemicals and as a critical component in cutting-edge research positions it as an integral part of the innovation landscape. This trend broadens the market base and fosters collaborations between traditional and emerging sectors.
With growing healthcare investments, there is likely an increase in diagnostic and pathological services. It is a key component in preserving tissue samples for pathological examinations, making it an essential reagent in laboratories that deal with diagnostics and pathology. As per the data from the report titled. The U.A.E Healthcare Sector, released by the U.S-UAE Business Council in 2021, by 2026, healthcare expenditures are projected to comprise 4.6% of the nation's gross domestic product, up from 4.27% in 2018. The long-term trend lines for the U.A.E.’s healthcare sector are positive. Therefore, rising healthcare investments in the LAMEA region will boost R&D activities in healthcare, subsequently leading to increased demand in the regional market.
The Brazil market dominated the LAMEA Formalin Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $320.5 million by 2030. The Argentina market is showcasing a CAGR of 7.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Formalin Market is Projected to reach USD 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.
Scope of the Study
Market Segments Covered in the Report:
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Fertilizer
- Automotive
- Dyes
- Drugs
- Antiseptic Perfume
- Rubber Chemicals
- Others
By Percentage
- 1.0%-20.0%
- 20.0%-40.0%
- 40.0% - 60.0%
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Thermo Fisher Scientific, Inc.
TABLE 1 LAMEA Formalin Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Formalin Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 4 LAMEA Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 5 LAMEA Formalin Market by Application, 2019 - 2022, USD Million
TABLE 6 LAMEA Formalin Market by Application, 2023 - 2030, USD Million
TABLE 7 LAMEA Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 8 LAMEA Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 9 LAMEA Fertilizer Market by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Fertilizer Market by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Fertilizer Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 12 LAMEA Fertilizer Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 13 LAMEA Automotive Market by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Automotive Market by Country, 2023 - 2030, USD Million
TABLE 15 LAMEA Automotive Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 16 LAMEA Automotive Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 17 LAMEA Dyes Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Dyes Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Dyes Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 20 LAMEA Dyes Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 21 LAMEA Drugs Market by Country, 2019 - 2022, USD Million
TABLE 22 LAMEA Drugs Market by Country, 2023 - 2030, USD Million
TABLE 23 LAMEA Drugs Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 24 LAMEA Drugs Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 25 LAMEA Antiseptic Perfume Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA Antiseptic Perfume Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA Antiseptic Perfume Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 28 LAMEA Antiseptic Perfume Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 29 LAMEA Rubber Chemicals Market by Country, 2019 - 2022, USD Million
TABLE 30 LAMEA Rubber Chemicals Market by Country, 2023 - 2030, USD Million
TABLE 31 LAMEA Rubber Chemicals Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 32 LAMEA Rubber Chemicals Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 33 LAMEA Others Market by Country, 2019 - 2022, USD Million
TABLE 34 LAMEA Others Market by Country, 2023 - 2030, USD Million
TABLE 35 LAMEA Others Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 36 LAMEA Others Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 37 LAMEA Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 38 LAMEA Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 39 LAMEA 1.0%-20.0% Market by Country, 2019 - 2022, USD Million
TABLE 40 LAMEA 1.0%-20.0% Market by Country, 2023 - 2030, USD Million
TABLE 41 LAMEA 20.0%-40.0% Market by Country, 2019 - 2022, USD Million
TABLE 42 LAMEA 20.0%-40.0% Market by Country, 2023 - 2030, USD Million
TABLE 43 LAMEA 40.0% - 60.0% Market by Country, 2019 - 2022, USD Million
TABLE 44 LAMEA 40.0% - 60.0% Market by Country, 2023 - 2030, USD Million
TABLE 45 LAMEA Formalin Market by Country, 2019 - 2022, USD Million
TABLE 46 LAMEA Formalin Market by Country, 2023 - 2030, USD Million
TABLE 47 LAMEA Formalin Market by Country, 2019 - 2022, Kilo Tonnes
TABLE 48 LAMEA Formalin Market by Country, 2023 - 2030, Kilo Tonnes
TABLE 49 Brazil Formalin Market, 2019 - 2022, USD Million
TABLE 50 Brazil Formalin Market, 2023 - 2030, USD Million
TABLE 51 Brazil Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 52 Brazil Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 53 Brazil Formalin Market by Application, 2019 - 2022, USD Million
TABLE 54 Brazil Formalin Market by Application, 2023 - 2030, USD Million
TABLE 55 Brazil Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 56 Brazil Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 57 Brazil Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 58 Brazil Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 59 Argentina Formalin Market, 2019 - 2022, USD Million
TABLE 60 Argentina Formalin Market, 2023 - 2030, USD Million
TABLE 61 Argentina Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 62 Argentina Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 63 Argentina Formalin Market by Application, 2019 - 2022, USD Million
TABLE 64 Argentina Formalin Market by Application, 2023 - 2030, USD Million
TABLE 65 Argentina Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 66 Argentina Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 67 Argentina Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 68 Argentina Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 69 UAE Formalin Market, 2019 - 2022, USD Million
TABLE 70 UAE Formalin Market, 2023 - 2030, USD Million
TABLE 71 UAE Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 72 UAE Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 73 UAE Formalin Market by Application, 2019 - 2022, USD Million
TABLE 74 UAE Formalin Market by Application, 2023 - 2030, USD Million
TABLE 75 UAE Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 76 UAE Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 77 UAE Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 78 UAE Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 79 Saudi Arabia Formalin Market, 2019 - 2022, USD Million
TABLE 80 Saudi Arabia Formalin Market, 2023 - 2030, USD Million
TABLE 81 Saudi Arabia Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 82 Saudi Arabia Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 83 Saudi Arabia Formalin Market by Application, 2019 - 2022, USD Million
TABLE 84 Saudi Arabia Formalin Market by Application, 2023 - 2030, USD Million
TABLE 85 Saudi Arabia Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 86 Saudi Arabia Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 87 Saudi Arabia Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 88 Saudi Arabia Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 89 South Africa Formalin Market, 2019 - 2022, USD Million
TABLE 90 South Africa Formalin Market, 2023 - 2030, USD Million
TABLE 91 South Africa Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 92 South Africa Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 93 South Africa Formalin Market by Application, 2019 - 2022, USD Million
TABLE 94 South Africa Formalin Market by Application, 2023 - 2030, USD Million
TABLE 95 South Africa Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 96 South Africa Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 97 South Africa Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 98 South Africa Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 99 Nigeria Formalin Market, 2019 - 2022, USD Million
TABLE 100 Nigeria Formalin Market, 2023 - 2030, USD Million
TABLE 101 Nigeria Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 102 Nigeria Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 103 Nigeria Formalin Market by Application, 2019 - 2022, USD Million
TABLE 104 Nigeria Formalin Market by Application, 2023 - 2030, USD Million
TABLE 105 Nigeria Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 106 Nigeria Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 107 Nigeria Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 108 Nigeria Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 109 Rest of LAMEA Formalin Market, 2019 - 2022, USD Million
TABLE 110 Rest of LAMEA Formalin Market, 2023 - 2030, USD Million
TABLE 111 Rest of LAMEA Formalin Market, 2019 - 2022, Kilo Tonnes
TABLE 112 Rest of LAMEA Formalin Market, 2023 - 2030, Kilo Tonnes
TABLE 113 Rest of LAMEA Formalin Market by Application, 2019 - 2022, USD Million
TABLE 114 Rest of LAMEA Formalin Market by Application, 2023 - 2030, USD Million
TABLE 115 Rest of LAMEA Formalin Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 116 Rest of LAMEA Formalin Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 117 Rest of LAMEA Formalin Market by Percentage, 2019 - 2022, USD Million
TABLE 118 Rest of LAMEA Formalin Market by Percentage, 2023 - 2030, USD Million
TABLE 119 Key Information – BASF SE
TABLE 120 Key Information – 3M Company
TABLE 121 Key Information – Bayer AG
TABLE 122 Key Information – Celanese Corporation
TABLE 123 Key Information –DuPont de Nemours, Inc.
TABLE 124 Key Information – Georgia-Pacific LLC
TABLE 125 key Information – Huntsman Corporation
TABLE 126 key Information – Merck KGaA
TABLE 127 Key Information – Sumitomo Chemical Co., Ltd.
TABLE 128 Key Information – Thermo Fisher Scientific, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Formalin Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Formalin Market
FIG 4 Porter’s Five Forces Analysis – Formalin Market
FIG 5 LAMEA Formalin Market share by Application, 2022
FIG 6 LAMEA Formalin Market share by Application, 2030
FIG 7 LAMEA Formalin Market by Application, 2019 - 2030, USD Million
FIG 8 LAMEA Formalin Market share by Percentage, 2022
FIG 9 LAMEA Formalin Market share by Percentage, 2030
FIG 10 LAMEA Formalin Market by Percentage, 2019 - 2030, USD Million
FIG 11 LAMEA Formalin Market share by Country, 2022
FIG 12 LAMEA Formalin Market share by Country, 2030
FIG 13 LAMEA Formalin Market by Country, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: BASF SE
FIG 15 SWOT Analysis: 3M Company
FIG 16 Swot Analysis: Bayer AG
FIG 17 SWOT Analysis: Celanese Corporation
FIG 18 Swot Analysis: DuPont de Nemours, Inc.
FIG 19 Swot Analysis: Georgia-Pacific LLC
FIG 20 SWOT Analysis: Huntsman Corporation
FIG 21 Swot Analysis: Merck KGaA
FIG 22 Swot Analysis: Sumitomo Chemical Co., Ltd.
FIG 23 Swot Analysis: Thermo Fisher Scientific, Inc.