Product Code: ETC234536 | Publication Date: Aug 2022 | Updated Date: Aug 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The Ghana Formaldehyde Market is likely to experience consistent growth rate gains over the period 2025 to 2029. The growth rate starts at 5.91% in 2025 and reaches 12.12% by 2029.
By 2027, Ghana's Formaldehyde market is forecasted to achieve a growing growth rate of 6.83%, with Egypt leading the Africa region, followed by South Africa, Ethiopia, Algeria and Nigeria.
Formaldehyde is a versatile chemical used in various industries such as construction, automotive, and healthcare for its preservative, disinfectant, and adhesive properties. In Ghana, the formaldehyde market is driven by industrial growth, infrastructure development, and demand for formaldehyde-based resins and adhesives in wood products, textiles, and building materials.
The Ghana formaldehyde market is experiencing growth propelled by the increasing demand for formaldehyde-based resins in wood products, construction materials, and industrial applications. Formaldehyde is widely used as a key raw material in the production of urea-formaldehyde (UF) resins, phenol-formaldehyde (PF) resins, and melamine-formaldehyde (MF) resins for adhesives, coatings, and laminates. Factors such as infrastructure development projects, furniture manufacturing, and the construction industry are driving the demand for formaldehyde in Ghana. Moreover, advancements in resin technology, environmental regulations, and sustainable sourcing practices are further fueling market growth in the country.
Challenges facing the formaldehyde market in Ghana include environmental regulations and health safety concerns related to formaldehyde emissions from industrial processes and building materials. Moreover, addressing alternative production methods and feedstock availability may pose challenges for formaldehyde manufacturers in meeting market demand while reducing environmental impact and health risks.
Recognizing the potential health and environmental risks associated with formaldehyde exposure, the government of Ghana has introduced policies to regulate the production, importation, and use of formaldehyde and formaldehyde-containing products. These policies include emission standards for formaldehyde emissions from wood products and building materials, labeling requirements for formaldehyde-containing products, and public education campaigns on the health effects of formaldehyde exposure and ways to minimize exposure risks.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Ghana Formaldehyde Market Overview |
3.1 Ghana Country Macro Economic Indicators |
3.2 Ghana Formaldehyde Market Revenues & Volume, 2021 & 2031F |
3.3 Ghana Formaldehyde Market - Industry Life Cycle |
3.4 Ghana Formaldehyde Market - Porter's Five Forces |
3.5 Ghana Formaldehyde Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.6 Ghana Formaldehyde Market Revenues & Volume Share, By Derivative, 2021 & 2031F |
3.7 Ghana Formaldehyde Market Revenues & Volume Share, By End-Use, 2021 & 2031F |
4 Ghana Formaldehyde Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growth in the construction and real estate sector in Ghana, leading to increased demand for formaldehyde-based products. |
4.2.2 Expansion of the furniture and woodworking industry in Ghana, driving the need for formaldehyde as a key ingredient in wood products. |
4.2.3 Rising awareness about the benefits of formaldehyde-based products in various applications, such as automotive, healthcare, and textiles. |
4.3 Market Restraints |
4.3.1 Stringent regulations and environmental concerns regarding formaldehyde emissions, leading to restrictions on its usage in certain industries. |
4.3.2 Fluctuating raw material prices, such as methanol, impacting the production cost of formaldehyde products. |
5 Ghana Formaldehyde Market Trends |
6 Ghana Formaldehyde Market, By Types |
6.1 Ghana Formaldehyde Market, By Application |
6.1.1 Overview and Analysis |
6.1.2 Ghana Formaldehyde Market Revenues & Volume, By Application, 2021-2031F |
6.1.3 Ghana Formaldehyde Market Revenues & Volume, By Resins, 2021-2031F |
6.1.4 Ghana Formaldehyde Market Revenues & Volume, By Fibers, 2021-2031F |
6.1.5 Ghana Formaldehyde Market Revenues & Volume, By Solvents, 2021-2031F |
6.1.6 Ghana Formaldehyde Market Revenues & Volume, By Plasticizers, 2021-2031F |
6.1.7 Ghana Formaldehyde Market Revenues & Volume, By Drying Agents, 2021-2031F |
6.1.8 Ghana Formaldehyde Market Revenues & Volume, By Other Chemical Intermediates, 2021-2031F |
6.2 Ghana Formaldehyde Market, By Derivative |
6.2.1 Overview and Analysis |
6.2.2 Ghana Formaldehyde Market Revenues & Volume, By Urea-formaldehyde Resin, 2021-2031F |
6.2.3 Ghana Formaldehyde Market Revenues & Volume, By Phenol Formaldehyde Resin, 2021-2031F |
6.2.4 Ghana Formaldehyde Market Revenues & Volume, By Polyoxymethylene, 2021-2031F |
6.2.5 Ghana Formaldehyde Market Revenues & Volume, By Melamine Formaldehyde Resin, 2021-2031F |
6.2.6 Ghana Formaldehyde Market Revenues & Volume, By Pentaerythritol, 2021-2031F |
6.2.7 Ghana Formaldehyde Market Revenues & Volume, By Methylene Diphenyl Diisocyanate, 2021-2031F |
6.2.8 Ghana Formaldehyde Market Revenues & Volume, By Others, 2021-2031F |
6.2.9 Ghana Formaldehyde Market Revenues & Volume, By Others, 2021-2031F |
6.3 Ghana Formaldehyde Market, By End-Use |
6.3.1 Overview and Analysis |
6.3.2 Ghana Formaldehyde Market Revenues & Volume, By Chemicals, 2021-2031F |
6.3.3 Ghana Formaldehyde Market Revenues & Volume, By Agriculture, 2021-2031F |
6.3.4 Ghana Formaldehyde Market Revenues & Volume, By Building & Construction, 2021-2031F |
6.3.5 Ghana Formaldehyde Market Revenues & Volume, By Personal Care & Cosmetics, 2021-2031F |
6.3.6 Ghana Formaldehyde Market Revenues & Volume, By Healthcare, 2021-2031F |
6.3.7 Ghana Formaldehyde Market Revenues & Volume, By Automotive, 2021-2031F |
7 Ghana Formaldehyde Market Import-Export Trade Statistics |
7.1 Ghana Formaldehyde Market Export to Major Countries |
7.2 Ghana Formaldehyde Market Imports from Major Countries |
8 Ghana Formaldehyde Market Key Performance Indicators |
8.1 Adoption rate of formaldehyde-free alternatives in the market. |
8.2 Number of new construction projects utilizing formaldehyde-based products. |
8.3 Compliance rate with environmental regulations and emission standards related to formaldehyde in manufacturing processes. |
9 Ghana Formaldehyde Market - Opportunity Assessment |
9.1 Ghana Formaldehyde Market Opportunity Assessment, By Application, 2021 & 2031F |
9.2 Ghana Formaldehyde Market Opportunity Assessment, By Derivative, 2021 & 2031F |
9.3 Ghana Formaldehyde Market Opportunity Assessment, By End-Use, 2021 & 2031F |
10 Ghana Formaldehyde Market - Competitive Landscape |
10.1 Ghana Formaldehyde Market Revenue Share, By Companies, 2024 |
10.2 Ghana Formaldehyde Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |