Global Urea-Formaldehyde Glues and Resins Market is segmented By Product Form (Liquid Form, Powder Form), By Application (Particle Board, Adhesive, Plywood, Medium-Density Fiberboard, Others), By End-User (Wood Industry, Automotive, Building and Construction, Electrical and Electronics, Agriculture), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global Urea-Formaldehyde Glues and Resins Market size was worth USD billion in 2022 and is estimated to reach USD billion by 2030 growing at a high CAGR the forecast period 2024-2031.
Urea-formaldehyde (UF), also known as urea-methanal, is a non-plastic thermosetting resin or polymer. The UF resins have high strength, rigidity, cost-effectiveness, and fast cure. They are some of the most rapid curing resins available. These resins are used in adhesives, finishes, particle board, medium-density fiberboard (MDF), and molded objects.
As per CROW’s Polymer Database, more than one million metric tons of urea-formaldehyde (UF) resin is produced annually. This includes about 80% of all amino resins produced worldwide. The wood industry consumes more than 70% of it for bonding particleboards, medium-density fiberboard is 27%, and hardwood plywood is 5%.
Besides, it is also used as an adhesive for decorative laminate applications, which accounts for almost 7%. Other applications include wet-laid fiberglass mats, air filtration, coated and bonded abrasives. Henceforth, due to its extensive applications, the urea-formaldehyde resins market is expected to proliferate during the forecast period.
Market Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Product Form, By Application, By End-User and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
To Get a Free Sample Click here
Market Dynamics
Increasing demand for good quality and economically viable adhesives and resins is proliferating the urea-formaldehyde market
The demand for good quality and economically viable adhesives and resins is expected to fuel the market of urea-formaldehyde. Most of the demand is expected to generate from automobiles and electrical appliances globally. For instance, as per industrial analysis, worldwide car sales are expected to grow to just under 70 million automobiles in 2021, up from an estimated 63.8 million units in 2020.
Moreover, the price of urea-formaldehyde is low and cheaper than its other substitutes, such as phenol-formaldehyde resin. Henceforth, the reduced price of phenol-formaldehyde resins has propelled the market by increasing demand for urea-formaldehyde.
Harmful and toxic effects of urea-formaldehyde are hindering its market growth
Increasing restrictions on the use of urea-formaldehyde resins due to toxicity concerns are anticipated to hinder market growth over the forecast period. For instance, as per National Cancer Institute of U.S., formaldehyde exceeding 0.1 ppm in atmosphere can cause adverse effects such as watery eyes, burning sensations in the eyes and nose, coughing, nausea and skin irritation. Moreover, the International Agency for Research on Cancer (IARC) classifies formaldehyde as a human carcinogen.
Therefore, the increasing toxicity concerns raised by health and environmental organizations, key regulators and end-users influence urea-formaldehyde manufacturers to develop urea-formaldehyde.
Market Segmentation Analysis
Based on application, the urea-formaldehyde market is segmented into particle board, adhesives, plywood, medium-density fiberboard and other applications.
Particle board is dominating the market due to its extensive applications
Particle board is an eco-accommodating material comprised of wood squanders, such as wood chips, sawdust, and wood shavings, combined with resin to form boards. It tends to be found in various evaluations, contingent upon the particles' size utilized in the material. With more modest particles, particle board will, in general, get more grounded.
Urea-formaldehyde resin is broadly utilized as a holding specialist in the particle board industry. While urea-formaldehyde stands less expensive than other formaldehyde-based resin, for example, phenol-formaldehyde resin, it gives an economic advantage over its substitutes.
Moreover, particle boards are mostly used in recording studios due to their excellent sound-absorbing properties. These are also used for making household furniture such as kitchen cabinets, bookcases, doors, windows, and covering the walls and floor. Additionally, particle boards can be painted, wallpapered, and laminated, adding to the surroundings' aesthetic quality. Due to these factors, the market is expected to increase over the forecast period.
Based on end-user, urea-formaldehyde is categorized into the wood industry, automotive, building and construction, electrical and electronics and agriculture.
Growing application in the wood industry is driving the urea-formaldehyde market growth
Urea-formaldehyde (UF) products are increasingly gaining traction in the wood industry because of their cost-effectiveness and robust strength. They are widely used in the wood industry for manufacturing fibrous boards, particle boards, medium density fiberboards and granular boards. Because of the numerous features, such as cost-effectiveness, resistance to mold formation, easy adaptability in diverse curing conditions, low cure temperature, exceptional thermal properties, and excellent water solubility (uncured) resin, these resins are gaining prominence as a critical wood adhesive.
As per CROW’s Polymer Database, more than 70% of urea-formaldehyde is consumed by the wood industry in its various applications. Henceforth, the significant demand for urea-formaldehyde in the wood industry is driving its market growth.
Market Geographical Share
Urea-formaldehyde market share is mainly spread into these five regions- North America, Europe, South America, Asia-Pacific and Middle East & Africa.
Asia-Pacific is dominating the market globally, with enormous consumption from countries such as China and India.
China is the largest producer of urea-formaldehyde in the world. With the increasing population, the need and demand for food are increasing daily, due to which, the advancements in agriculture activities are changing gradually. Fertilizer performance and efficiency are necessary, resulting in increased consumption of urea-formaldehyde.
Moreover, the furniture industry in China has been rising steadily over the last decade. As per 1421-a partner by Acclime, the Chinese furniture industry's production accounted for around 39% of the world's furniture production.
Besides, there is a significant growth of urea-formaldehyde in Japan's market. As per Statista, in 2019, approximately 57.59 thousand tons of urea-formaldehyde resins were produced in Japan.
Henceforth, the propelling market of the urea-formaldehyde in the Asia-Pacific is expected over the forecast period.
Companies and Competitive Landscape
The urea-formaldehyde glues and resins market are fragmented with the presence of local as well as global companies. Some of the key players contributing to the market's growth include BASF SE, The Dow Chemical Company, Ashland Inc., Kronospan Ltd., Advachem SA, SABIC, INEOS Group, Foresa, Georgia-Pacific Chemicals LLC, Hexion Inc., among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the Urea-Formaldehyde Glues and Resins market globally.
Georgia-Pacific Chemicals LLC
Overview: Georgia-Pacific Chemicals LLC is a global performance chemicals manufacturer and marketer. It is a wholly-owned subsidiary of Georgia-Pacific LLC.
Product Portfolio: Its products are used in a diverse range of industries, including building products, aerospace and coatings. The product portfolio covers specialty and necessary chemicals, which are often custom formulated, and used in various applications.
Key Development:
- The company has recently introduced a novel line of resins specially designed to cater to the powder coating manufacturers' needs. Earlier, Georgia-Pacific Chemicals LLC created a resin that can help manufacturers offer coatings composed of lower volatile organic compounds (VOC).
Why Purchase the Report?
- Visualize the urea-formaldehyde glues' composition and resins market segmentation by product form, application, end-user and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the urea-formaldehyde glues and resins market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of urea-formaldehyde glues and resins market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the critical product of all major market players
The global urea-formaldehyde glues and resins market report would provide access to a 61 market data tables, 54 figures and 226 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
