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Project Detail:
The proposed expansion project will be executed within 3 months after grant of Environment Clearance and other Statuary clearances.
The formaldehyde segment (about 45% of the methanol market) is expected to grow at a CAGR of 10-15 per cent during the same period, led by growth in the enduser industries, mainly construction and automobiles.
Unlike methanol, production of its derivative formaldehyde in India is sufficient to meet the domestic demand. The Indian formaldehyde market is projected to grow at a CAGR of 6% during 2019-2030 on account of growing focus towards roofing mat application and the surging demand for wood-based articles in India.
Note: Please Download Project Document attached to this Project for more information.
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