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Urea Formaldehyde Market Trends

Report ID: GMI9955
Published Date: Jun 2024
Report Format: PDF

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Urea Formaldehyde Market Trends

The market is experiencing significant progress, marked by a shift towards low-emission formulations to address environmental concerns and comply with regulations. Moreover, the growing need for sustainable materials is boosting the adoption of urea formaldehyde resins in woodworking and construction. Additionally, advancements in technology are improving the versatility and effectiveness of urea formaldehyde-based products, broadening their usage across diverse industries. Furthermore, heightened investment in research and development is driving innovation, leading to the development of new products and formulations customized to meet changing market needs and consumer preferences.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for urea formaldehyde was worth USD 7.4 billion in 2023 and is projected to expand at over 4.8% CAGR from 2024 to 2032, owing to the widespread adoption of urea formaldehyde in wood-based products and the burgeoning construction sector.

The powder urea formaldehyde industry accounted for USD 4.8 billion in revenue in 2023 and is estimated to depict substantial gains between 2024 and 2032, due to its convenient handling, storage, and transportation, along with a longer shelf life compared to liquid alternatives.

The particleboard and plywood application segment captured 40.7% of the urea formaldehyde market share in 2023, on account of the expansion of the global furniture, interior design, and construction sectors.

Asia Pacific industry recorded USD 3.3 billion in 2023, led by the rapid industrialization, urbanization, and infrastructure development across sectors such as construction, furniture, automotive, and textiles.