Urea Formaldehyde Market
Urea Formaldehyde Market Analysis By Form (Liquid, Powder), By Application, By End User and By Regions - Global Review 2023 to 2033
Analysis of Urea Formaldehyde Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Urea Formaldehyde Market Growth Outlook (2023 to 2033)
The global urea formaldehyde market is set to estimate a valuation of US$ 6.9 billion in 2023 and it is anticipated to grow at a CAGR of 4.5% to reach US$ 10.7 billion by the end of 2033.
Urea formaldehyde is prominently used as an adhesive in different end-use industries such as furniture, transportation, electrical & electronics, building and construction, and others.
Urea Formaldehyde Market Size (2023)
US$ 6.9 Billion
Forecasted Market Value (2033F)
US$ 10.7 Billion
Global Market Growth Rate (2023–2033)
North America Market Share (2023)
East Asia Market Growth Rate (2023–2033)
Europe Market Growth Rate (2023–2033)
Key Companies Profiled
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Historic and Future Pathway Analysis for the Urea Formaldehyde Market
Urea-formaldehyde has various remarkable properties like high resistance, cost-effectiveness, easy adaptability in diverse curing conditions, exceptional thermal properties, low cure temperature, and excellent water solubility. Due to all of these features, urea formaldehyde gaining traction across major end-use industries.
Urea-formaldehyde demand has risen over time as a result of significant expansion in a number of end-use industries, including the furniture, automotive, and construction sectors. With this, rising awareness regarding the advantages of urea formaldehyde is helping to drive the market during the forecast period.
- Short Term (2023–2026): The growing automotive and construction industry to proliferate the urea formaldehyde market growth.
- Medium Term (2026–2029): With the growing demand for urea formaldehyde from the wood industry as an adhesive it is anticipated that the market will witness immense growth.
- Long Term (2029–2033): Growth of end-use industries in Asia pacific majorly in China, and India are expected to witness substantial demand for urea-formaldehyde in the coming years.
Over the 2018–2022 historical period, the urea formaldehyde market registered a CAGR of 3.2%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.5% CAGR between 2023 and 2033.
Market Dynamics Overview
“Applications in Automotive and Aircraft Sector is Driving Market”
Due to its many advantageous chemical characteristics, urea formaldehyde is becoming more popular as a crucial chemical in a variety of applications. The growing intermediate applications of urea-formaldehyde in the automotive, aircraft, and construction industries continue to create growth opportunities for urea-formaldehyde.
Urea-formaldehyde is an excellent bonding agent and provides high-quality performance at a very reasonable price so its use as an adhesive is increasing in the automotive and aircraft industries.
Urea-formaldehyde is majorly used in the manufacturing of automotive components such as engine parts, tires, fuel system components, vehicle interiors, brake pads, foams in car seats body parts, bumpers, and engine lubricants. Along with automotive, these resins are also gaining demand from the aircraft sector for the manufacturing of various products, such as tires, seat foam, turbine lubricants, brake pads, interior paneling, and seatbelts, among others.
“Government Regulations to Hamper the Market Growth”
As compared to other thermosetting resins like polymeric di-isocyanate and phenolic formaldehyde urea formaldehyde has drawbacks such as poor resistance to moisture, especially at high temperatures. Exposure to formaldehyde can cause burning sensations in the eyes, throat, and nose, as well as skin irritation, coughing, nausea, and wheezing.
Formaldehyde is a proven human carcinogen, according to the national toxicology program. Government regulations on formaldehyde emissions may hinder the growth of the urea formaldehyde market.
A regulation to restrict exposure to formaldehyde emissions from particular domestically produced or imported wood articles was announced by the Environmental Protection Agency (EPA). Such regulations are hindering demand for urea formaldehyde from a number of end-use sectors.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Why the Urea Formaldehyde Market in the USA is expected to be Highly Lucrative?
The USA is dominating the global urea formaldehyde market. It is anticipated that the urea formaldehyde market is expanding at a CAGR of 3.8% across the USA during the forecast period.
The significant factor which dominates the consumption of urea-formaldehyde in the USA is the regularly increasing demand for specialty fertilizers across the country. Urea-formaldehyde has found wide application in the agriculture sector it is most useful in fertilizing crops. Urea formaldehyde is added to the soil it releases nitrogen which is an essential nutrient for the growth of crops. Due to such a consistent nitrogen supply crops become healthier and more munificent which ensures high crop yield, particularly for grain crops.
Also, the U.S. agricultural industry has seen significant growth in crop production and fertilizer use in recent years, which is expected to sustain the rising demand for urea formaldehyde. In the United States the rise of the automobile industry, as well as increased consumer demand for electrical and electronic products, the demand for urea formaldehyde is surging.
What is the Market Scenario of Urea Formaldehyde in China?
With a 39.8% share of the worldwide furniture market, China is the largest producer of furniture. This rapidly expanding furniture industry plays a key role in fueling consumer demand for a variety of goods like medium-density fiberboard, particleboard, oriented stranded board, mold finishes, and others, which in turn increase the demand for urea-formaldehyde resins across the country. Furniture exports from China are also the highest, followed by those from Germany, Vietnam, Poland, and Italy.
China has remained the predominant producer of automobiles in the world and the largest automotive market since 2009. In vehicle tires, urea formaldehyde is used to enhance the bond between rubber and tire cord. Along with this, it is also used in the production of fiberboard. In the automotive industry, fiberboard is utilized to make free-form designs including inner door shells, dashboards, and rear cargo shelves.
- The number of vehicles manufactured in China increased from around 25.2 million in 2020 to about 26.1 million in 2021, which increased the need for fiberboard in the automotive industry.
Such positive factors contribute to expanding the urea formaldehyde market across china at a CAGR of 5.1% during the forecast period.
Why is the Liquid Form of Urea Formaldehyde Dominating the Market?
The market for urea formaldehyde is prominently segmented on the basis of form i.e. powder and liquid. As of 2023, the form segment of the urea formaldehyde market is dominated by the liquid form, which accounts for over 57.3% of the global urea formaldehyde market.
The liquid form of urea formaldehyde is frequently used in home decoration products and in industrial products. In the general liquid form of urea formaldehyde is used in decorative laminates, plywood, textiles, paper, and others. It is extensively used as an adhesive and in wood glue. Such aforementioned applications are driving the demand for liquid form urea formaldehyde and it is expected to grow at a CAGR of 4.2% during the forecast period of 2023-2033.
Why is the Building & Construction Industry Consuming a Large Share of Urea Formaldehyde?
The urea formaldehyde market has applications across numerous end-use industries and based on the end-use industry it is segmented into furniture, transportation, electrical & electronics, building & construction, agriculture, textile, and other end-use industries. With a 25.2% market share, the building & construction end-use categories consumed the largest share of the urea formaldehyde global market.
Throughout the assessment period, it is anticipated that the increased usage of medium-density fiberboards, decorative laminates, particle boards, and other materials in the building & construction industries is likely to drive demand for urea formaldehyde.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key urea formaldehyde manufacturers are Achema, Ashland Inc., Asta Chemicals Sdn. Bhd., BASF SE, Ineos Group, MKS Marmara, OJSV Perechin timber and chemical plant.
Along with prominent players in the market, the market is flooded with the existence of other medium-scale and small players in the market, the global urea formaldehyde market is semi-fragmented. Prominent urea formaldehyde manufacturers acquire approximately 40–45% share of the global market.
Although small and medium-sized manufacturers concentrate on offering cost-effective products to increase their local market penetration, as compared to that well-known manufacturers are aiming to increase their production capacities.
Fact.MR has provided detailed information about the price points of key manufacturers of urea formaldehyde positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Urea Formaldehyde Industry Research
By Form :
By Application :
- Plywood Manufacturing
- Particle Board Manufacturing
- Medium Density Fiberboard Manufacturing
- Molding Components Manufacturing
By End-use Industry :
- Electrical & Electronics
- Building and Construction
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global urea formaldehyde market is estimated to be valued at US$ 6.9 billion in 2023.
The global urea formaldehyde market is expected to reach US$ 10.7 billion by 2033-end.
East Asia is expected to account for approximately 29.3% market share in 2023.
The furniture end-use industry accounted for a 20.3% share of global sales.
North America, Latin America, Europe, the Middle East & Africa, East Asia, South Asia and Oceania are considered in the urea formaldehyde market.