The Latin America, Middle East and Africa Paraformaldehyde Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 160.87 kilo tonnes, showcasing a growth of 6.3% (2023-2030).
Paraformaldehyde serves as a key component in the production of pesticides, herbicides, and fungicides, playing a crucial role in enhancing agricultural productivity and ensuring crop protection. Within this context, paraformaldehyde is utilized in formulations aimed at controlling pests, weeds, and fungal diseases that affect crop yields. Therefore, the Brazil Utilized 17.81 kilo Tonnes of paraformaldehyde in Agrochemicals in 2022.
The Brazil market dominated the LAMEA Paraformaldehyde Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $62.6 million by 2030. The Argentina market is showcasing a CAGR of 6.7% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 5.6% during (2023 - 2030).
Paraformaldehyde is used in the construction industry for the production of wood-based composite materials, adhesives, coatings, and insulation products used in building construction, furniture making, and interior finishes. Expansion of the construction projects provide new avenues for the paraformaldehyde market. For instance, as per the International Trade Administration (ITA), under the Red Sea project of Saudi Arabia Government, by the conclusion of 2023, three hotels were inaugurated, with plans for an additional 13 hotels to be launched in 2024. Upon full completion, the Red Sea Project anticipates approximately 50 hotels comprising over 8,000 rooms.
Adoption trends in the paraformaldehyde market reflect the dynamic landscape shaped by evolving industry dynamics, technological advancements, regulatory changes, and shifting consumer preferences. Emerging economies, particularly in Asia-Pacific and Latin America, are experiencing rapid industrialization, urbanization, and infrastructure development. This growth fuels demand for paraformaldehyde-based products in the construction, automotive, furniture, and consumer goods industries. Emerging markets offer significant growth opportunities for paraformaldehyde manufacturers, driven by expanding industrial sectors and increasing consumer spending.
The agrochemical industry in Brazil exerts a significant influence on the paraformaldehyde market, driving demand for seed treatment, soil fumigation, crop protection, and sustainable agriculture solutions. As per the International Trade Administration (ITA), the sector proved quite resilient during the pandemic, with significant increases in 2021 and 2022. Therefore, the increasing demand for agrochemicals in Brazil and the expansion of construction activities in the UAE is propelling the market’s growth.
Free Valuable Insights: The Worldwide Paraformaldehyde Market is Projected to reach USD 2.5 Billion by 2030, at a CAGR of 5.2%
Based on Application, the market is segmented into Agrochemicals, Resins, Medical, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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