Urea formaldehyde resin (UFR) is non-transparent thermosetting synthetic resin derived from a chemical mixture of urea and formaldehyde. It is mainly consumed as an adhesive for bonding construction and building materials. Globally, development of efficient and advanced technology, rising demand for good quality and economically viable adhesives and resins, flourishing automotive industry, growing electrical appliances, and advantageous properties of urea formaldehyde such as, high tensile strength, flexural modulus and scratch resistant are the prime growth drivers of the urea formaldehyde market.
Three different polymer composites of epoxy resins are being synthesized which are modified by urea formaldehyde .Some of its end use applications are plywood, medium density fiberboard, and coatings. Paper, textile, corduroy, rayon are among various industries that requires urea formaldehyde formed adhesives in their operations. In addition, increase in adoption of urea formaldehyde for application in new industrial verticals, and emerging economies such as China, India and others, will create new opportunities for the urea formaldehyde market.
Wood flour and thermoplastic‐modified urea‐formaldehyde (UF) suspensions are blended to form a wood composite which can sustain impacts better than other similar composites. Wooden furniture market on a global forum is expected to grow at a CAGR of around 5% during 2018-2022. However, volatile prices and availability of raw materials, availability of substitute compounds, and stringent government environment regulations are the key restraints for the urea formaldehyde market.
Geographically, North America dominated the urea formaldehyde market, Asia Pacific is projected to have the fastest growth, owing to a rapidly increasing automobile industry, rise in industrial sector, and growing consumption of electrical appliances in developing nations such as China, and India in this region. Among all the applications, particle board segment has the highest market share in the urea formaldehyde market. Home appliances and electrical appliances are the market leaders among all end-user industries of urea formaldehyde, owing to rising need of adhesives. The report also aid to highlight market size in terms of volume and value.
This report identifies the urea formaldehyde market size for the years 2014-2016, and forecast of the same till the year 2022. It also highlights in-depth analysis on market drivers, market trends, restraints, growth indicators, challenges, and other key aspects with respect to the urea formaldehyde market.
This report segments the urea formaldehyde market on the basis of application, end-user industry, and regional market as follows:
- Urea Formaldehyde Market, By Application: Adhesives, Particle board, Plywood, Roofing mats, and Others
- The report has focused study on urea formaldehyde market by basis of end-user industry such as: Automobiles, Electrical Appliances, Home Appliances (Furniture), Agriculture, and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the urea formaldehyde market. Some of the major companies’ profiles in detail are as follows:
- The DOW Chemical Company
- Ashland Inc.
- Kronospan Ltd.
- Advachem SA