The Pivotal Study of Global Urea Formaldehyde Resin Market – Market Synopsis, Industry Key Players, Market Tracking, Regional Forecast till 2026

The Pivotal Study of Global Urea Formaldehyde Resin Market – Market Synopsis, Industry Key Players, Market Tracking, Regional Forecast till 2026

Ÿ   Base Year: 2018

Ÿ   Estimated Year: 2019

Ÿ   Forecast Period: 2019 to 2026

Description:

The future in the global urea formaldehyde resin market is promising with opportunities in the furniture, building and construction, transportation, and electrical & electronics industries. It is estimated that the CAGR (Compounded Annual Growth Rate) of the world market in the forecast period will reach 3.82%, and the total market value is expected to reach USD 11,526 million in 2026 from USD 8,866 million in 2019.

Increasing demand for low cost, highly reactive binders for medium density fiber board, plywood and particle board in the furniture, building, and construction industries are fueling the growth of the urea formaldehyde resin market. As automotive and paint industry involve adhesive and coating application for their operations, the growth in these industries are also projected to stimulate urea formaldehyde resin market’s growth. Rising population will show a significant positive impact on the global urea formaldehyde resin market in coming years.

Urea formaldehyde resin (UFR) is a chemical mixture of urea (obtained from ammonia) and formaldehyde (obtained from methane). Urea formaldehyde resins are used mostly as adhesives for the bonding of plywood, particleboard, and other structured wood products.

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Competitive Insights

Major manufacturers profiled in the analysis report include Hexion, Advachem, Metadynea, Allnex, Dynea, Kronospan, Mitisuichem, Hexza, BASF, Chemiplastica, GP Chem, Tembec Inc, Ercros, Foresa, Jilin Forest, and others.

Regional Insights

Currently, urea formaldehyde resin industry concentration is low, mainly concentrated in Asia-Pacific and Europe. The Asia-Pacific is the largest market with a proportion of 37.42%, followed by Europe and North America, accounting for 27.59% and 21.46% respectively. Due to the growth in construction and construction activities and the increase in production of automobiles and appliances, the Asia Pacific region is expected to remain the region with the largest value and volume during the forecast period.

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Type Insights

The various product types are Medium density fiber board, Plywood, Particle board Adhesives, Molding compounds, and Others.

Application Insights

The Urea Formaldehyde Resin is deployed in various end users: Furniture, Building and Construction, Transportation, Electrical and Electronics, and Others.

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Audience

•     Urea formaldehyde resin manufacturers

•     Raw material suppliers of urea formaldehyde resin

•     Small and Medium-sized Enterprises (SMEs)

•     Distributors and resellers of urea formaldehyde resin

•     Urea formaldehyde resin industry associations

•     Product managers, urea formaldehyde resin industry administrator, C-level executives of the industries

•     Market Research and consulting firms

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