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Global Urea Formaldehyde Market (2021 to 2026) - Transportation Expected to Witness the Highest Growth

·3 min read

DUBLIN, Nov. 12, 2021 /PRNewswire/ -- The "Opportunities in the Urea Formaldehyde Market: Growth Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.

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The future of the urea formaldehyde market looks promising with opportunities in furniture, building and construction, transportation, and electrical & electronics industries. The global urea formaldehyde market is expected to reach an estimated $14.2 billion by 2026 with a CAGR of 4.8% from 2021 to 2026. The major growth drivers in this market are increasing demand for low cost, highly reactive binders for medium density fiber board, plywood, and particle board in the furniture, building, and construction industries.

Emerging trends, which have a direct impact on the dynamics of the urea formaldehyde resin industry, include Introducing scavenger technology to reduce the VOC content while using UF adhesive in different applications.

A total of 100 figures/charts and 81 tables are provided in this 166-page report to help in your business decisions. To learn the scope of benefits, companies researched, and other details of the global urea formaldehyde market report, then read this report.

Companies Mentioned

  • BASF Corporation

  • Georgia-Pacific Chemicals LLC

  • Rayonier Advanced Materials

  • Hexion Inc.

  • Ashland

  • Foresa

  • INEOS

  • Advachem SA

  • Kronospan Ltd.

  • SAFCO

The study includes trends and forecasts for the global urea formaldehyde market by application, end use industry, and region as follows:

By Application [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • Particle board

  • Medium density fiber board

  • Plywood

  • Adhesives and Coatings

  • Molding compounds

  • Others

By End Use Industry [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • Furniture

  • Building and Construction

  • Transportation

  • Electrical and Electronics

  • Others

By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:

  • North America

  • Europe

  • Asia Pacific

  • Rest of the world

In this market, medium density fiber board (MDF), plywood, particle board, adhesive, and molding compound are used for urea formaldehyde manufacturing for applications. The analyst forecasts that medium density fiber board (MDF) will remain the largest application by value and volume over the forecast period because of the growing demand for MDF in doors, window boards, shelving, furniture panels, wall linings, baseboards, moldings, and decorative facades and it is also expected to witness the highest growth over the forecasted period.

Within the global urea formaldehyde market, furniture will remain the largest end use industry by value and volume due to changing lifestyles, increase in consumer purchasing power, and growing interest in home decoration. Transportation is expected to witness the highest growth over the forecast period.

The Asia Pacific is expected to remain the largest region by value and volume; this region is also expected to experience the highest growth over the forecast period due to growth in building and construction activities and increasing production of automotive and appliances.

For more information about this report visit https://www.researchandmarkets.com/r/h4pxqo

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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View original content:https://www.prnewswire.com/news-releases/global-urea-formaldehyde-market-2021-to-2026---transportation-expected-to-witness-the-highest-growth-301423017.html

SOURCE Research and Markets

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