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 - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019 - 2027

 

Paraformaldehyde Market
Paraformaldehyde Market

Formaldehyde polymerization produces paraformaldehyde, a polymer with a typical degree of polymerization of 8-100 units. This polymer has low acid content, good solubility, ease of storage, stability, and high productivity. Because of its robust properties, paraformaldehyde can be used in a variety of applications, including agrochemicals, resin production, adhesives, disinfectants, organic chemical synthesis, and cleaning products. The agriculture sector is one of the most important markets for paraformaldehyde because it is widely used in the production of a variety of agrochemicals such as fungicides, pesticides, and herbicides. Globally, the agriculture sector is expanding with increased production and investment, which is expected to drive market growth during the forecast period.

Once depolymerized, paraformaldehyde can be used as a disinfectant, fungicide, fixative, and fumigant. It was also widely used as a thermoplastic in root canal therapy. In recent years, it has been used commercially to synthesise pesticides such as glyphosate, acetochlor, and butachlor. It is also used in the nutraceutical industry to produce vitamin A, as well as in the paint and coating end for the synthesis of high grade automobile paint. Among other things, paraformaldehyde is used to make polyacetal resin, vinylon, diphenyl methane diisocyanate, terephthalic acid, acrylic acid esters, and melamine resin.

Because of increased paraformaldehyde production in China, Asia Pacific is expected to see Paraformaldehyde market growth in the coming years. India's demand is expected to rise over the next seven years due to increased development in the construction, automotive, and agricultural sectors, as well as rising disposable income. North America is the second-largest regional Paraformaldehyde market and is expected to grow significantly as the oil and gas, pharmaceutical, and automotive industries expand. Europe is expected to grow significantly after North America due to technological advancements in the plastic and rubber industries. Over the forecast period, MEA and Latin America are expected to see significant growth due to increased production of laminates, pentaerythritol, MDI, and wood panels.

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