Harnessing Digitalization in the Formalin Market: Trends and Implications

The formalin market was estimated at USD 7.57 billion in 2022 and is likely to grow at a CAGR of 5.22% during 2023-2028 to reach USD 10.26 billion in 2028.

Formalin, also known as formaldehyde solution, is a colorless liquid with a pungent odor. It is widely used as a disinfectant, and preservative, and in various industrial applications such as in the production of resins, textiles, and plastics. Formalin is also used in the medical field for embalming and as a tissue fixative for histopathology.