Urea formaldehyde is a naturally occurring substance that is commonly present in meat, fruits, and vegetables. It also plays a crucial role in preventing bacteria and microorganisms from forming. As a result, urea formaldehyde is used as a preservative in foods, as well as in vaccines. Among its other applications, it is used to inactivate viruses and bacteria in medical products, such as vaccines. Moreover, urea-formaldehyde resins are generally produced at a relatively low cost, making them ideal for the production of cosmetic jars, electrical products, and interior plywood.
The global urea formaldehyde market is anticipated to grow at strong pace during the forecast period. This growth is driven by the development of the construction industry, the expanding commercial market, and government expenditure. Moreover, the increased adoption of technology in various industries is boosting the demand for home appliances. Other factors such as the growing population and rapid urbanization are also propelling market growth. Additionally, the rising demand for UF fertilizer is further fuelling growth of the urea formaldehyde market.
On the other hand, fluctuating price of raw materials is expected to hinder market growth.
Key features of the study:
- This report provides in-depth analysis of the global urea formaldehyde market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global urea formaldehyde market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Hexion, BASF SE, Georgia-Pacific Chemicals, Hexza Corporation Berhad, Metadyena, Jiangsu sanmu group Co. Ltd, Ashland, ARCL Organics Ltd., Kronoplus Limited, Advachem, Qafco, Sabic, Acron Group, Asta Chemicals, Melamin Kemična Tovarna D.D. Kočevje, and Arclin Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global urea formaldehyde market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global urea formaldehyde market
- Global Urea Formaldehyde Market, By Application
- Particle Board
- Wood Adhesives
- Medium Density Fiberboard
- Other Applications
- Global Urea Formaldehyde Market, By End user Industry
- Electrical Appliances
- Building and Construction
- Other End user Industries
- Global Urea Formaldehyde Market, By Geography
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Company Profiles
- BASF SE
- Georgia-Pacific Chemicals
- Hexza Corporation Berhad
- Jiangsu sanmu group Co. Ltd
- ARCL Organics Ltd.
- Kronoplus Limited
- Acron Group
- Asta Chemicals
- Melamin Kemična Tovarna D.D. Kočevje
- Arclin Inc.