The North America forest product industry has been showing a significant growth over the years, with the rising demand for wood-based applications. The U.S. accounted for nearly 66.8% of UFR consumption in North America in 2014, as the region is witnessing high demand for wood-based panels. Canada is the second-largest market for UFR in North America, having accounted for 25.1% of the UFR consumption in 2014. The growing demand for lumber and wood-based panels, to cater to the demand from the infrastructure industry, is a major driving factor for this market in Canada.
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The major participants operating in the North America UFR market are BASF S.E. (Germany), Momentive Specialty Chemicals (U.S.), INEOS (U.K.), Allnex (U.S.), Tembec Inc. (Canada), and Georgia-Pacific LLC (U.S.).
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In January 2015, Allnex, a leading UFR producer, acquired Águia Química (Brazil), one of the largest manufacturers of alkyd and acrylic resins in Brazil. The acquisition of Águia Química, enabled Allnex to develop its existing businesses lines such as liquid resins, additives, and cross-linkers. In 2014, Allnex also signed a joint venture agreement with Eternal Materials Co., Ltd. (Taiwan) to manufacture and supply Allnex’s products such as CYMEL® and Eternal’s ETERMINO amino cross linker resins in Greater China.
In March 2013, INEOS, another major participant in the North America UFR market, launched Mapernal and Resimene amino resin cross-linkers for can coatings. With this product launch, INEOS strengthened its position in the high-growth markets for UFR.
