Formaldehyde: A gas used widely in production of adhesives, plastics, preservatives, and fabric treatments and commonly emitted by indoor materials that are made with its compounds. It is highly irritating if inhaled and is now listed as a probable human carcinogen.
Some products that you might expect to contain formaldehyde in your home include paper towels, shampoo, deodorant, lipstick, baby wipes, toothpaste, body wash, and nail polish. It can also be found in building products including pressed wood produces (cabinets for instance), plywood, resins (used in wall paper), glues, latex paint, insulation, and carpet.
Exposure to high levels of Formaldehyde may cause asthma attacks, nausea, watery eyes, difficulty breathing, headaches, and respiratory irritation.
Formaldehyde, according to the Department of Health and Human Services, has been shown to cause cancer in animals.