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Global Urea Formaldehyde Resin Market InsightFebruary 9, 2022 Comments
The urea formaldehyde resin is forecast to develop gradually over the next few years. According to the WK-chem Research “Global Urea Formaldehyde Resin Professional Survey Report 2022, Forecast to 2027”, With the rapid development of global infrastructure construction, the Urea Formaldehyde Resin industry is developing at an incredible speed. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.24% base on WK-chem Research regression analysis model.
The global urea-formaldehyde resin market is a fragmented market. Leading players have established and gained a larger share in the market with innovative products that meet all needs and achieve inorganic growth, said Amy, Senior analyst, Chemical & Material Market Research Center in WK-chem Research. Furthermore, the implementation of government legislation that promotes sustainable products instead of urea-formaldehyde resins is negatively impacting the urea-formaldehyde resin market. Therefore, manufacturers need to meet strict quality standards before selling their products, especially in various developing regions.
Urea formaldehyde resin is a non-transparent, cross-linked thermoset resin or plastic obtained by chemical combination of urea and formaldehyde. It offers properties such as high tensile strength, flexural modulus, scratch resistance, high heat distortion temperature, low water absorption, mold shrinkage, high surface hardness, elongation at break, and volume resistance urea formaldehyde resins are used as adhesives in various end-use industries. Urea formaldehyde resin is a rigid odorless synthetic material that is used in electrical fittings, adhesives, laminates, and finishes for textiles. These resins are economically cost-effective than other resins such as phenol-formaldehyde resins. This makes it more popular among industries such as textiles, papers, and foundry. The urea formaldehyde resin market is expected to expand at a significant pace during the forecast period.
The global urea formaldehyde resin market is driven by the rise in demand for good quality and economically viable adhesives and resins in automobile and electrical appliances. Other drivers of the urea formaldehyde resin market include rapid industrialization due to the increase in standard of living of consumers, increase in demand for roofing mat application, and growth in demand for wood-based products.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Urea Formaldehyde Resin companies that include Hexion, Advachem, Metadynea, Allnex, Dynea, Kronospan, Mitisuichem, Hexza, BASF, Chemiplastica, GP Chem, Rayonier Advanced Materials, Ercros, Foresa, Jilin Forest, Sanmu, Yuntianhua, Huasen, Gaoxing Muye, Yuanye, Senbang, Bosson.
Segmentation of Urea Formaldehyde Resin Market:
According to the form this product can be subdivided into urea formaldehyde resin power and urea formaldehyde resin solution. urea formaldehyde resin power holds a major market share due to ease of transportation etc. Urea formaldehyde resin is widely used in particle board, wood adhesives, plywood, medium density fiberboard and others. Particleboard dominates the market. Particleboard is an environmentally friendly material that is made from wood waste such as sawdust, sawdust and shavings mixed with resin. Depending on the particle size used in the material, different grades can be found. Particleboard tends to be stronger with smaller particles. Urea-formaldehyde resins are widely used as binders in the particleboard industry. While urea-formaldehyde resin is less expensive than other formaldehyde-based resins such as phenolic resin, it offers cost advantages over alternatives.
Urea Formaldehyde Resin Market: Regional Analysis
In terms of geography, the global Urea Formaldehyde Resin market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The Asia Pacific region dominates the global market, with countries such as China and India consuming the most. China is the world’s largest producer of urea-formaldehyde resin. As the population increases, the need and demand for food is increasing every day, therefore, the advancement of agricultural activities is gradually changing. To achieve these changes, fertilizer performance and efficiency are necessary, leading to increased consumption of urea-formaldehyde resins. Over the past decade, China’s furniture industry has been steadily rising. This booming production scene in the furniture industry helps drive the market demand for various products such as particleboard, medium density fiberboard (MDF), mould facings, oriented strand board (OSB), etc., which in turn drives the national urea-formaldehyde resin consumption.
Largest share area：Asia Pacific
Largest share country：China
Product Type(by Form)：Urea Formaldehyde Resin Power and Urea Formaldehyde Resin Solution
Application：Particle Board, Wood Adhesives, Plywood, Medium Density Fiberboard and Others
Leading Company：BASF, Hexza, Rayonier Advanced Materials, Hexion, Allnex