Formaldehyde Is the Most Commercially Important Aldehyde.

Date: July 2010
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The simple molecule of Formaldehyde plays an invaluable role in many areas of the economy including the aerospace, automotive and building and construction sectors. It is essential to the workings of the human body and other biological systems and is used in making pill coatings, heart valves and vaccines. Its benefits have been improving our lives for more than a century.

Formaldehyde is the most commercially important aldehyde. Urea-, phenol- and melamine-Formaldehyde resins (UF, PF and MF resins) accounted for approximately 63% of world demand on the Formaldehyde market in 2009.

Construction/remodeling activity, vehicle and furniture production, and original equipment manufacture (OEM) account for most world consumption of Formaldehyde. Demand for these markets is greatly influenced by general economic conditions. As a result, demand for Formaldehyde largely follows the patterns of the leading world economies.

Formaldehyde resins are used predominantly in the wood products industry as adhesives. Growth of these resins is strongly correlated to construction/remodeling activity. The largest non-forest product consumer of Formaldehyde, representing 12% of the North American consumption, is polyacetal resin, produced at two plants. This is followed closely by MDI production used in the growing polyurethanes industry.

In 2009 world Formaldehyde capacity was estimated to have reached about 29 mln tons/year, traditionally Asia hold the majority of capacity – about 40%, followed by Europe with 31% and North America (24%). Global production approached 27.5 mln tons in 2009 reflecting market growth in comparison with 2008. World consumption is forecast to grow at an average annual rate of 4.0% during 2010–2015. World demand for Formaldehyde in wood resins is forecast to remain strong as solid wood has been replaced by manufactured wood-based panels. Overall, Formaldehyde is not at risk for large-scale substitution by competing products.

More information on Formaldehyde market may be found in the report Formaldehyde: 2010 World Market Outlook And Forecast recently published by TD The Market Publishers, Ltd.