Prismane

Global Urea Formaldehyde Market Demand & Forecast Analysis, 2016-2032

Urea formaldehyde (UF) resins are type of thermoset resins that is commonly used in the manufacturing of adhesives, plywood, particleboard, and other wood-based products. Urea formaldehyde market has evolved around two centuries from its invention in 1884. Almost a decade later a scientist named Carl Goldschmidt patented the first application of UF resin. Followed by this, multiple applications were invented and commercialized in the following decade. The urea formaldehyde market is part of Amino resins. Amino resins account for around 20-21% of the total thermosetting polymer market and the Urea formaldehyde market accounts for approximately 80% of the total amino resin market. Urea formaldehyde is also known as aminoplasts and Methanal. 

The production process of urea formaldehyde is quite complex. As the name suggests, the feedstock to produce urea formaldehyde are Urea and formaldehyde. UF resins are produced in two steps as follows: step one is alkaline condensation where different methylolureas are formed and in the second stage acid condensation takes place where cross-linked UF resins are produced. Usually, the reaction takes the time of 24 to 30 hours with varying temperatures of 90°C to 30°C. The ratio for urea to formaldehyde is 1:2 or 1:2.2. Maintaining the pH of the urea formaldehyde reaction is important to get desired polymer size and to give UF resin the maximum shelf life. The curing of urea formaldehyde resins takes place at room temperature with the addition of an acid catalyst. Sometimes for speedy curing process curing is done under the presence of heat. 

The urea formaldehyde applications are categorized into three segments namely wooden composites, adhesives, and others. Wooden composites can further be classified into plywood, particle board, MDF (Medium Density Fibreboard), and others. In the wood composite industry, urea formaldehyde is used as the bonding material. Currently, more than 90% of urea formaldehyde resin demand is from wooden composites and adhesive applications. In Wooden composites, Particle board sub segment accounts for the largest share. In terms of end-use industries, the global urea formaldehyde resin market is dominated by furniture industry followed by building & construction. Wooden composites are widely used in furniture articles and are also used in wall and flooring panels. Owning to increasing demand for aesthetic material, medium density fibreboard is estimated to be fastest growing application between 2022-2032. 

The global urea formaldehyde demand has been growing steadily over the years on the back of increasing demand of wood-based products in furniture and construction industries. The Asia Pacific, Urea Formaldehyde market is projected to witness highest CAGR in the forecast period due to rapid growth in the furniture and construction end use industries, particularly in China and India. The Urea formaldehyde resins demand in regions like North America and Europe is anticipated to be moderate on the back of rising demand of formaldehyde free wooden composite. Since 1980, after ban of urea formaldehyde foam insulation in North American due to rising concerns of material being cancerogenic, the use of urea formaldehyde resin is limited to wooden industry. Furthermore, use of polyester and other thermosetting material in wooden industry had impacted UF resin growth and acts as a restraints in the market. However, with booming construction industry in countries like China, India, ASEAN countries, the urea formaldehyde is market is projected to growth at a CAGR of 5%. between 2022-2032.

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Applications
          -  End Use Industries
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2020
          -  Base - 2022
          -  Forecast Period - 2022 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance      
      •Automotive
      • Agriculture
      • Building & Construction
      • Electrical & Electronics
      • Others
5.  Introduction to Urea Formaldehyde and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
6.  Market Dynamics and Industry Trends 
      •  Market Dynamics and COVID-19 Impact
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
7.  Global Urea Formaldehyde Demand Analysis, By Applications, By End-Use Industries (Volume, Value) (2016–2032) 
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016 – 2032)
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Urea Formaldehyde Market, By Applications
          - Wooden Composites
                    •  Plywood
                    •  Particle Board
                    •  MDF (Medium Density Fiberboard)
                    •  Others
          - Adhesives
          - Others
      •  Global Urea Formaldehyde Market, By End-Use Industries
          - Automotive
          - Agriculture
          - Building & Construction
          - Furniture
          - Electrical & Electronics
          - Others
8.  Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016-2032)
      •  Demand Growth Rate (%)
      •  Urea Formaldehyde Market, By Applications
      •  Urea Formaldehyde Market, By End-Use Industries
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand(consumption) split by applications and end-use industries has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the applications and end-use industries to arrive at the regional/global demand growth for the forecast period (2022 – 2032)
9.  Pricing Analysis
10.  Key Strategic Issues and Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
11.  Strategic Recommendation & Suggestions
12.  Company Analysis and Market Share Analysis
      •  Urea Formaldehyde Manufacturers Profiles/ Company Analysis
         -  Basic Details
         -  Headquarter, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Key Business Strategies adopted and Prismane Consulting Overview
         -  Recent Developments
         -  Companies Covered
             - Ashland Global
             - Acron Group
             - Asta Chemicals
             - BASF SE
             - Achema
             - Hexion Inc.
             - Georgia-Pacific Chemicals
             - SAFCO
             - Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
13.  Appendices
      •  Demand- Regions
      •  Demand– Countries