Formaldehyde Market was valued US$ 30.18 Bn in 2023 and is expected to reach US$ 42.47 Bn by 2030, at a CAGR of 5 % during a forecast period 2024-2030. Formaldehyde is mainly used in the production of resins, which find use in the construction industry. Resins like urea formaldehyde, phenol formaldehyde, and melamine formaldehyde are used for manufacturing building materials.
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