The Report “Urea Formaldehyde Resin Market, By Application (Particle Board, MDF, Plywood, Moulding Powder, Adhesives and Coatings, Roofing Mats, Others), By Geography (North America, Europe, Asia Pacific, RoW), Forecasts to 2019” is expected to reach $9.3 billion by 2019 and is projected to grow at a CAGR of 7.3% between 2014 and 2019.
Browse through the TOC of the Urea Formaldehyde Resin Market for an analysis of industry trends and segments, with the help of various tables and figures.
Early buyers will receive 10% customization on this report
Urea formaldehyde resin is a non-transparent, cross-linked thermoset resin or plastic, which is a chemical mixture of urea and formaldehyde. It is used extensively in different end-user industries as it provides high reactivity and performance at a relatively low cost. The overall demand for this resin type is highly influenced by the infrastructure and furniture industry.
The global urea formaldehyde resin market is driven by the growing demand from furniture industry and increasing consumption by end use applications, such as plywood, medium density fiberboard, adhesives and coatings, and particle board.
Rapid growth in Asia-Pacific’s infrastructure sector poses huge opportunity for the urea formaldehyde resin market. Asia-Pacific dominates the UFR market with a consumption share of approximately 40%. Continuous growth in furniture and infrastructure industry due to the growing population is a key driver for global urea formaldehyde resin market globally wherein developing economies like China and India present high growth potential for the market. China has accounts for the largest consumption share of urea formaldehyde resin as it is also indulged in exporting finished wood products worldwide.
Other drivers for this market are rapid industrialization due to increase in living standards of customers, growing attention towards roofing mat application, and growing demand for wood-based products. However, one major inhibitor for this market is the toxic emission property of formaldehyde, which has led various countries, for instance the U.S. and Europe, to put UFR production under regulations. .
Particleboard application segment dominates the global urea formaldehyde resin market globally with a market share of approximately 35%. This huge share of particleboard segment can be attributed to growing number of housing projects across the globe as a result of growing population, coupled with rising economies such as India and China.
Globally, BASF SE (Germany) dominates the urea formaldehyde resins market, followed by Advachem (Belgium) and Momentive Specialty Chemicals (U.S.). Other key players in this market include Ineos (Switzerland), Chemiplastica SpA (Italy), Chimica Pomponesco SpA (Italy) and Allnex Belgium SA (Belgium). Most of the key players in this market are focusing on innovations to sustain their position in the market. The companies are continuously investing in research and development to rectify the emission issues associated with the usage of formaldehyde.
About MicroMarket Monitor:
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Contact:
Mr. Chandrasekhar K.
UNIT no 802, Tower No. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-502-0539
Email: sales@micromarketmonitor.com
