Asia-Pacific Urea Formaldehyde Resin Market

Urea Formaldehyde Resin (UFR) is widely used in synthetic resins and is chemically known as urea-methanol, which are used in the production of composite panel products such as Medium Density Fiberboard (MDF) and Particleboard (PB). UF resins are currently used in combination with other resin systems and scavengers to meet reduced formaldehyde emission requirements in the final panel products. Urea Formaldehyde Resin (UFR) is widely used as a non-transparent thermo setting resin or plastic and is made from urea and is heated in the presence of a mild base such as ammonia or pyridine mostly used in adhesives, wooden carving, and medium-density fiberboard electrical components, and sometimes molded into objects.

The Asia-Pacific urea formaldehyde resin market had approximately 40.5% of market share value in 2013. The market has grown considerably during the past few years and is expected to grow at a more rapid pace in the coming years. Currently more than half of the total global market is part of manufacturing adhesives sector, because of its property of high reactivity, wonderful performance and low price. China is the largest consumer of urea formaldehyde resin in Asia-Pacific, having a consumption share of around 74% of the total Asia-Pacific demand in 2013.

In the past 20 years, China has become one of the largest producers of furniture. China surpassed Canada and has become world’s second largest producers of sawn wood after the U.S. It also produces wood-based panels, paperboard in extensive proportion. It was estimated to be the largest exporter of wood-based panels in the global market. The construction industry in China had seen a good growth and is expected to grow by an average of around 8.0% each year by 2018. Factors such as industrialization and urbanization, increase in purchasing power, growth of domestic household industries with high consumption will fuel China’s wood panel industry. Subsequent to China are Indonesia, Malaysia and Republic of Korea.

The key countries covered in the Asia-Pacific urea formaldehyde resin market are China, Indonesia, Malaysia and Republic of Korea. The various applications studied include solvents, chemical intermediate, pharmaceutical and others. Further, as a part of qualitative analysis, the Asia-Pacific urea formaldehyde resin market research report provides a comprehensive review of the important drivers, restraints, opportunities, and burning issues in the UFR market.

The Asia-Pacific urea formaldehyde resin market report also provides an extensive competitive landscape of the companies operating in this market. It also includes the company profiles and competitive strategies adopted by various market players, including Allnex Belgium Sa (Belgium), Hexazachem Sarawak Sdn BHd (Malaysia), Royal Chemie (Indonesia), BASF Chemicals (Germany) and others.

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