Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Paraformaldehyde Market Overview, Dynamics, Outlook and Key Players

Market Overview

Paraformaldehyde is a crystalline white substance that is extensively used as a disinfectant and fixative. Due to breakdown, this smallest polyoxymethylene emits a strong pungent odour akin to formaldehyde. It has a formaldehyde content of 89-91 percent and a water content of 9-11 percent. The vacuum drying and spray drying techniques are the two main methods for manufacturing paraformaldehyde. It's poisonous, and it's designated as a hazardous cargo. It also has the potential to cause cancer.

 

Market Dynamics

The agricultural sector is predicted to increase rapidly, boosting demand for paraformaldehyde and hence the worldwide paraformaldehyde market. Depolymerized paraformaldehyde is used as a fumigant, disinfectant, fungicide, and fixative. Thermoplastics are also manufactured with paraformaldehyde. As a result, strong demand for thermoplastics from the construction industry and the expanding plastics industry is likely to drive market expansion.

Paraformaldehyde is used to crosslink proteins to DNA in the genetics field. Furthermore, the market is predicted to develop due to rising demand for particle board, medium density fiberboard, and plywood. Paraformaldehyde is also utilised as a disinfectant in medical and hygienic settings. The resinous binding substance is made from paraformaldehyde, which is then used to make particle board, medium density fiberboard, and plywood with the help of melamine, phenol, and other reactive agents.

 

Paraformaldehyde Market
Paraformaldehyde Market

Market Outlook

The Asia Pacific market is fueled by China's increasing consumption and production of paraformaldehyde. Due to the widespread usage of fumigant, disinfectant, fungicide, and fixative in India, the market is predicted to grow significantly. Due to varying laws on the use of pesticides and fungicides in certain European Union member countries, the market in Europe is likely to grow slowly. Because of increased research and development activities in the field of genetics, the market for paraformaldehyde in North America is likely to rise significantly.

 

 

 

Key Players

Alfa Aesar, Jinan Xiangrui Chemical Co., Ltd., Shanghai Orgpharma Chemical Co., Ltd., Jinan Haohua Industry Co., Ltd., Ekta International, and GFS Chemicals are some of the main participants in the worldwide paraformaldehyde market.

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