Urea Formaldehyde Market Is Estimated To Be Valued At US$ 6.9 Billion In 2023

PRESS RELEASE
Published April 24, 2023

The estimated value of the global urea formaldehyde market in 2023 is US$ 6.9 billion, and it is projected to increase at a CAGR of 4.5% to reach US$ 10.7 billion by the end of 2033.

Numerous end-use industries, including those in the furniture, transportation, electrical & electronics, building and construction, and ot, frequently utilise urea formaldehyde as an adhesive.

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Urea-formaldehyde possesses a number of extraordinary qualities, including high resistance, affordability, ease of adaptation to various curing conditions, exceptional thermal characteristics, low cure temperature, and excellent water solubility. Urea formaldehyde is becoming more popular across key end-use sectors as a result of all of these characteristics.

As a result of strong growth in a variety of end-use industries, such as the furniture, automotive, and construction sectors, the demand for urea-formaldehyde has increased over time. Thus, throughout the projection period, the market would be driven by growing awareness of the benefits of urea formaldehyde.

Market Players:

  • Achema
  • Ashland Inc.
  • BASF SE
  • Ineos Group
  • MKS Marmara
  • OJSV “Perechin timber and chemical plant”

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Urea Formaldehyde.

Product Development/Innovation: Detailed insights on upcoming technologies, RandD activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

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Segmentation of Urea Formaldehyde Industry Research

  • Urea Formaldehyde Market by Form :
    • Liquid
    • Powder
  • Urea Formaldehyde Market by Application :
    • Plywood Manufacturing
    • Particle Board Manufacturing
    • Medium Density Fiberboard Manufacturing
    • Molding Components Manufacturing
    • Others
  • Urea Formaldehyde Market by End-use Industry :
    • Furniture
    • Transportation
    • Electrical & Electronics
    • Building and Construction
    • Agriculture
    • Textile
    • Others
  • Urea Formaldehyde Market by Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

The study further identifies major manufacturing trends, technologies that will be commercialized

·         Key manufacturing trends in end-use industries; 

·         New technologies used in a variety of application areas

·         Key manufacturing trends in end-use industries

·         New technologies used in a variety of application areas; Major economic shocks, such as the recent COVID-19 pandemic

·         Country markets that will emerge as hotbeds of opportunity;

·         Regulatory frameworks that will shape the strategies of key players in key regions in the Urea Formaldehyde Chemicals market

·         Key technological trends and the likely rate of commercialization of novel technologies in key industries and allied industries

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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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