Pune, India -- (SBWIRE) -- 04/25/2018 -- N-Vinylformamide Market – Market Overview
N-formaldehyde is known by various name and is a precursor to amide and amine fictional polymer and monomers, oligomers, and functional polymers. It is highly reactive and possess attractive physical and toxicological properties. The overall application scope of N-Vinylformamide and its derived polymers and monomers includes radiation cure coatings, automotive, construction, adhesives, and specialty chemicals, on the basis of based on their good physical and toxicological properties. Growth in this market is driven by consistent product demand from automotive, coatings and dynamic construction industry. Moreover, the construction industry likely to emerge as largest consumer of n-formaldehyde over the assessment period. North America was the prominent consumer in construction demand over the last decade and generated largest revenue market as of 2016, specifically for construction applications. The market is expected to be driven by automotive industry expansion over the last few years. Therefore, Asia Pacific and North America expected to be the major markets for n-formaldehyde.
Regional Overview
As per the MRFR analysis, Asia Pacific expected to be the largest market for n-formaldehyde including Japan, China and India are the major revenue generating markets in this region. Rising government initiative in construction industry in this region expected to be the key factor for the regional growth. Moreover, higher automotive base as well as growing automotive production at a healthy growth rate would be another prominent market in this industry. North America is another prominent market for n-formaldehyde wherein, the market is driven by established aviation industry and rising construction repair activities
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N- Vinylformaldehyde Market- Competitive Landscape
The Global N-Formaldehyde Market consists of majority established chemical industry players. Market as a whole represents huge number in terms of consumption and overall market value, and degree of competition observed in this market is increasing year by year due to rising global consumption. Leading players in this market are BASFE SE, Santa Cruz Biotechnologies, TCI Development Co. Ldt, Mitsubishi Rayon Company ltd, Solenic LLC, Eastman Chemical Company and others. Major trend observed in this market is the rising focus on the technology innovation of n-formaldehyde and most of the market players are investing significantly over the above-mentioned development. As per the estimate, the global n-formaldehyde market will have high threat industry competition.
Industry/ Innovation/ Related News:
September 19, 2017- To develop formaldehyde detection technology Salt Lake City Company receives USD 100, 000. The reward has been given by Environmental Protection Association-The U.S. to support the environmental technology. The company from Salt Lake City i.e. Vaporsens, Inc ia awarded the phase I contract for indoor formaldehyde detection by low cost chemical sensor based on organic nanofibers. The coo any has developed several applications such as detecting explosives, narcotics, toxic industrial chemicals, and che4miacl warfare agents, and due to which Vaporsens is honoured to receive this awards by environmental Protection agency-The U.S. As per the industry experts, the award may inspire other companies to develop such application and provide scope for innovation.
November 6, 2014- Momentive Specialty chemicals expanded fromaldehyde production. The company has announced the construction of two new plants responsible for the production of n-formaldehyde Louisiana. The expansion acidity undertaken by investing overall capital of USD 66 million, and as per the proposed in expansion plan, new plants will be functional by 2016 end. The newly building n-formaldehyde plant will be of responsible of producing 400,000 tons/year. Being a global leader in the formaldehyde, Momentive Specialty chemicals have expanded production capacity to cater ongoing global demand for n-formaldehyde. As per the industry experts, new commencement of the plant will be providing new employment opportunities the U.S. population as a part corporate social responsibility of Momentive Specialty chemicals activity.
March 28, 2013 – Formox is known for providing plant designs, catalysts, and licences for the production of formaldehyde, an important chemical intermediate. The company has acquired by Johnson Matthey in exchange of USD 1.05 billion. The company acquired Formox to enhance the market leadership of Johnson as leading supplier of technology for several syngas and other chemical processes. Formox's level of expertise in selective oxidation in selective catalysts expected to help the specific industrial application and widen the application base, and the impact expected to be seen in petrochemicals.
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