Which applications are driving the UF glues and resins market?
Particle board dominates the market due to its extensive use in furniture, flooring, and construction. Other applications include plywood, MDF, and adhesives.
What are the challenges facing the UF glues and resins market?
Concerns about formaldehyde emissions and stricter regulations pose challenges. However, manufacturers are developing formaldehyde-free and low-emission UF resins.
Who are the major players in the UF glues and resins market?
Leading players include BASF SE, The Dow Chemical Company, Ashland Inc., Kronospan Ltd., and Georgia-Pacific Chemicals LLC. These companies are focusing on new product launches and collaborations.
Which region is expected to dominate the urea-formaldehyde market?
The Asia Pacific region is currently the largest and is projected to remain dominant throughout the forecast period, driven by the booming furniture industry in China and India.