Urea Formaldehyde Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2027

Published on : Feb-2019 | List of Tables : 89 | List of Figures : 69 | No. of Pages : 170 | Report Code : FACT2950MR | Format :

The urea formaldehyde market remains highly fragmented, with a number of mid-sized and emerging players competing for market share. The growing regulations are influencing market players to develop urea formaldehyde based adhesives with lower formaldehyde emissions. The leading players in the market, including BASF SE, Advachem, Ashland Inc., Ineos Group, Georgia-Pacific, and Hexion Inc account for around 8% - 10% of the urea-formaldehyde market. 

Key urea formaldehyde manufacturers are focusing on developing and upgrading their products with lower formaldehyde emissions through resin formulation/composition innovation and novel manufacturing techniques. Some of the notable developments in the urea formaldehyde market are, 

  • Chemicals giant and a key manufacturer of urea resins and formaldehyde resins, Ineos Group, is building a new chemical plant in Antwerp, Belgium, for the gas-altering facilities at a cost of US $3.42 billion. The hefty investment is expected to change the picture of chemical sector and will offer varied benefits to the Belgium and other European economies.
  • A leading player in urea formaldehyde market, Georgia-Pacific Chemicals LLC, has recently introduced a novel line of resins, specially designed to cater to the needs of the powder coating manufacturers. Earlier, Georgia-Pacific Chemicals LLC created a resin that can help manufacturers offer coatings composed of lower volatile organic compounds (VOC).
  • BASF SE, one of the leading urea formaldehyde manufacturers, is investing Rs. 16,000 crore in setting up a petrochemical production hub in Gujarat, as a part of a joint venture with Adani Group, which is the largest private thermal power producer in India.
  • Acron Group, another prominent player in urea formaldehyde market, has set up a subsidiary Acron Brasil Ltd in Sãn Paulo, Brazil, as a part of a strategic plan to deeper penetrate the market. This move is strategically aimed at delivering comprehensive service to customers in Brazil while driving the sales of its own and other third-party products.
  • A leading methanol and formaldehyde producer, Metafrax, has inked an agreement with Switzerland-based Casale SA, to jointly build urea, melamine, and ammonia facility in Gubakhka. The substantial part of products will be used onsite to manufacture synthetic gums and UFC as melamine feedstock. 

Some of the key players operating in the global urea formaldehyde market are BASF SE, Advachem, Ashland Inc., Ineos Group, Georgia-Pacific, Acron Group, Hexion Inc., CHIMICA POMPONESCO S.P.A., OJSV “Perechin timber and chemical plant”, PJSC METAFRAX, Achema, Asta Chemicals Sdn. Bhd., etc. 

Key Insights 

Growing Applications in Thriving Wood Industry Generating Opportunities 

Urea formaldehyde (UF) products, commonly referred to as aminoplasts, are increasingly gaining traction in the wood industry on account of their cost-effectiveness and robust strength. They are being widely used in the wood industry for manufacturing particleboards, fibrous boards, medium density fiber boards, and granular boards. Owing to their 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 of the (uncured) resin, these resins are gaining prominence as a key wood adhesive. 

urea formaldehyde incremental opportunity by region

End-User Preference for Urea Formaldehyde Alternatives Growing Owing to Toxicity Concerns

Despite their widespread use, formaldehyde based adhesives continue to trigger concerns, owing to their potential health impact. As formaldehyde is a suspected carcinogen, the rising toxicity concerns raised by health and environmental organizations, key regulators, and end-users are influencing urea formaldehyde manufacturers to develop new urea resins, formaldehyde resins and urea-formaldehyde resins, which emit formaldehyde in negligible amount. 

Sensing the severity of such toxic concerns, many manufacturers have introduced low emitting resin system. EcoBindTM by chemical company Hexion and E-Natural® by Arclin Group has been developed to keep emissions low without compromising on the quality. 

Another prominent player in urea formaldehyde market, Georgia Pacific Chemicals, has introduced LEAF® low-emission resins, a group of wood adhesive technologies, such as LEAF C2 Resins, LEAF GB resins, etc., that work in compliance with diverse green building standards and CARB Airborne Toxic Control Measure (ATCM) for Composite Panels Phase 2 emission requirements. Based on the requirements and process followed by a manufacture, LEAF C2 adhesives can be a melamine urea formaldehyde or urea formaldehyde formulation. Manufacturers’ instant action to address such concerns is in turn likely to maintain buoyancy in the adoption of urea formaldehyde resins. 

Applications in Automotive and Aircraft Sector Create Sustained Opportunities 

As formaldehyde has numerous useful chemical properties, it is increasingly gaining traction as an important chemical building block in a wide range of applications. The growing intermediate applications of formaldehyde-based resins in automotive, aircraft, construction, clothing and healthcare industries continues to create growth opportunities for the players in urea formaldehyde market. 

urea formaldehyde supply chain

Several formaldehyde-based resins and chemicals are witnessing growing adoption in manufacturing surface coatings, decorative laminates, molded automobile components, etc. for a wide range of end products, such as tires,  engine parts, fuel system components, brake pads, vehicle interiors, foams in car seats body part adhesives, bumpers, and engine lubricants.  These resins are also gaining demand from aircraft sector for the manufacturing of high performance thermoplastics, neopolyol esters, phenol composites, and PUFs for various end products, such as tyres, turbine lubricants, interior paneling, seat foam, brake pads, and seatbelts. Glues composed of formaldehyde-based chemistry are excellent bonding agents, and deliver high-quality performance that is extremely economical. 

Urea Formaldehyde Ban in Poultry Feed in EU Can Adversely Impact Sales 

Since the beginning of 2018, the adoption of formaldehyde in poultry feed is witnessing a complete ban in the European Union (EU). Poultry farmers can no longer use formaldehyde as a preservative and hygiene condition enhancer. As poultry feed is a multi-billion market in Europe, urea formaldehyde manufacturers are likely to face a significant impact due to the blanket ban issued by European Commission.

 Definition 

Urea formaldehyde is an amino resin and one of the most important derivatives of formaldehyde. Particleboard, plywood, and medium-density fiberboard (MDF) are the major applications of urea formaldehyde, which is manufactured from formaldehyde and urea. 

About The Report

The report on urea formaldehyde market is a comprehensive amalgam of highly useful and actionable insights. The Fact.MR report provides an extensive assessment on the urea formaldehyde market, which manifests research on noteworthy dynamics, such as lucrative opportunities, key insights, trends, growth drivers, and restraints for the urea formaldehyde market. The report evaluates the size of the urea formaldehyde market in terms of volume (Kilo Tons) and value (US$ Mn). 

The report offers authentic information to readers about the urea formaldehyde market meant to assist them in planning market strategies based on robust insights about urea formaldehyde market. This further gives the manufacturers operating in urea formaldehyde market a better idea about the existing and the future growth potential of the urea formaldehyde market. Relying on the report insights and information offered on urea formaldehyde market, readers can plan smart strategies and can make well informed decisions to gain a pole position in the urea formaldehyde market. 

Segmentation 

The report provides a through analysis and estimate on urea formaldehyde market on the basis of segmental analysis. The key segments identified in urea formaldehyde market include region, application, and end-use. Fact.MR analysts have analyzed the urea formaldehyde market segments, thereby, providing an explicit comparison between key market data, including the market share, revenue, volume, and Y-o-Y growth.  The report also carries regional performance of urea formaldehyde market, classifying the market into North America, Europe, Japan, Asia-Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Latin America.  

Addition Questions Answered 

Apart from the information provided here, the report also answers additional questions related to urea formaldehyde market, including but not limited to,

  • What will be the urea formaldehyde market size in 2025?
  • Which are the key strategies of market giants to maintain their monopoly, and what will be their y-o-y growth during the forecast period?
  • Which application of urea formaldehyde market will hold the highest revenue for market players in 2020?
  • Which region is offering most lucrative opportunities to manufacturers in urea formaldehyde market?
  • Which end user of urea formaldehyde will drive the highest sales during the foreseeable period?
  • What will be the y-o-y growth rate of urea formaldehyde market in North America in next four years? 

Research Methodology 

Key insights offered on urea formaldehyde market are fully based on dynamic research methodology that is followed by the analysts at FactMR to create the urea formaldehyde market report. The report is amalgam of powerful and through primary and secondary researches to obtain key information about all spheres of the urea-formaldehyde market. Analysts have performed a comprehensive research to obtain the numbers and data mentioned in the report, such as revenue share, CAGR, and y-o-y growth of all the segments in urea formaldehyde market. 

urea formaldehyde market research methodology

The exclusive methodology followed by Fact.MR ensures authenticity of every detail mentioned in the report. The valuable insights about urea formaldehyde market are presented in a way to assist readers in making well-informed decisions to grow their businesses in the urea formaldehyde market. 

A recently compiled Fact.MR report, titled “Urea Formaldehyde Market Forecast, Trend Analysis & Competition Tracking –Global Review 2018 to 2027” gives a comprehensive analysis on the global urea formaldehyde market. Size of the global urea-formaldehyde market has been evaluated for the forecast period 2019-2027, and is offered in terms of value (US$ Mn) and volume (kilo tons). The report also offers a detailed analysis and forecast on key segments and the competitive landscape of the global urea-formaldehyde market. 

Chapter 1- Global Urea Formaldehyde Market - Executive Summary

A precise summary of urea formaldehyde market has been provided in the first chapter of the report, which includes a compilation of key findings, key statistics, FactMR analysis and recommendations, and opportunity assessment for companies operating in the urea-formaldehyde market has been given with the aid of Wheel of Fortune. Mega trends impacting growth of the urea-formaldehyde market have also been highlighted in this chapter. 

Chapter 2- Global Urea-Formaldehyde-Market Overview

A precise introduction to the urea-formaldehyde market has been provided in the second chapter of the report. The chapter also carries the segmentation of urea-formaldehyde market, on the basis of region, end-use, and application. The market has been defined on the basis of diverse parameters in this chapter. The report provides a concise overview of global urea-formaldehyde market, which includes global urea-formaldehyde market size, market dynamics, supply chain, formaldehyde production process analysis, pricing analysis etc. This chapter also talks about the raw material sourcing strategy and analysis along with the global methanol market overview, to keep the reader informed about the existing picture of the urea-formaldehyde market. In the second chapter of the report, key participants market presence has been thoroughly described by region using an intensity map. 

Chapter 3- Global Urea-Formaldehyde Market Analysis and Forecast 2013-2027

In-depth analysis and forecast on the urea-formaldehyde market has been offered in the third chapter and its sub-sections. The analysis has been done on the basis of key segments identified in the report, based on region, application and end-use.  Volume and revenue comparison, Y-o-Y growth comparison, and market share comparison of all the market segments has been delivered in the report. The urea-formaldehyde market has been assessed regionally as well as on a country-level. Key regions analyzed in the urea-formaldehyde market include Middle East & Africa (MEA), Japan, Europe, Asia-Pacific excluding Japan (APEJ), Latin America, and North America. 

Chapter 4- North America Urea-formaldehyde Market Size and Forecast, 2013-2027

This chapter gives a succinct introduction to the urea-formaldehyde market in North America, along with a detailed analysis and forecast on regional trends impacting the market growth. Key countries assessed in the North America urea-formaldehyde market are the U.S., and Canada, and value & volume forecast on the urea-formaldehyde market in these countries have also been delivered in this chapter. 

Chapter 5 – Latin America Urea-formaldehyde Market Size and Forecast, 2013-2027 

A concise introduction to Latin America urea-formaldehyde market has been offered in the fifth chapter of the report. This chapter offers an accurate forecast on the urea-formaldehyde market in the region in terms of volume and value. Key countries studied under the Latin America urea-formaldehyde market are Peru, Chile, Argentina, Mexico, Brazil, and Rest of Latin America. The urea-formaldehyde market in Latin America has also been assessed on the basis of end-use, and application. 

Chapter 6 – Europe Urea-formaldehyde Market Size and Forecast, 2013-2027 

This chapter gives a succinct introduction to the urea-formaldehyde market in Europe, along with a detailed analysis and forecast on regional trends impacting the market growth. Key countries assessed in the Europe urea-formaldehyde market are the NORDIC, BENELUX, the U.K., EU-4 (Italy, Spain, France, and Germany), and Rest of Europe, and value & volume forecast on the urea-formaldehyde market in these countries have also been delivered in this chapter.

Chapter 7 – Japan Urea-formaldehyde Market Size and Forecast, 2013-2027 

Japan’s urea-formaldehyde market has been comprehensively assessed in this chapter, and detailed analysis on key trends impacting growth of the market in the country has been offered. Volume & revenue comparison, Y-o-Y growth comparison, and the market share comparison of all the key segments assessed in the Japan urea-formaldehyde market have been delivered in this chapter. 

Chapter 8 – APEJ Urea-formaldehyde Market Size and Forecast, 2013-2027 

An introduction to Asia-Pacific excluding Japan (APEJ) urea-formaldehyde market has been offered in the eight chapter of the report. This chapter offers an accurate forecast on the urea-formaldehyde market in the region in terms of volume and value. Key countries studied under the APEJ urea-formaldehyde market are South Korea, ASEAN, China, Australia & New Zealand, India, and Rest of APEJ. The urea-formaldehyde market in APEJ has also been assessed on the basis of application, and end use. 

Chapter 9 – MEA Urea-formaldehyde Market Size and Forecast, 2013-2027 

This chapter gives a quick introduction to the urea-formaldehyde market in the Middle East & Africa (MEA), along with a detailed analysis and forecast on regional trends impacting the market growth. Key countries assessed in the MEA urea-formaldehyde market are the Turkey, South Africa, GCC countries, and Rest of MEA, and value & volume forecast on the urea-formaldehyde market in these countries have also been delivered in this chapter. 

Chapter 10- Global Urea-formaldehyde Market Company Share, Competition Landscape and Company Profiles

This weighted chapter of the report offers a detailed assessment on the urea-formaldehyde market’s structure, along with a dashboard view of all the key companies profiled in the report. A company share analysis on the urea-formaldehyde market players has also been offered in this chapter. In addition, a footprint matrix on the market players profiled in the report has been offered, and the presence of these urea-formaldehyde manufacturers has been depicted with the aid of an intensity map.

Key companies profiled in the global urea-formaldehyde market are BASF SE, Advachem, Ashland Inc., Ineos Group, Georgia-Pacific, Acron Group, Hexion Inc., CHIMICA POMPONESCO S.P.A., OJSV “Perechin timber and chemical plant”, PJSC METAFRAX, Achema, Asta Chemicals Sdn. Bhd., and others.

1. Global Urea-formaldehyde Market - Executive Summary

2. Global Urea-formaldehyde Market Overview
     2.1. Introduction
           2.1.1. Global Urea-formaldehyde Market Taxonomy
           2.1.2. Global Urea-formaldehyde Market Definition
     2.2. Global Urea-formaldehyde Market Size (US$ Mn & Volume) and Forecast, 2013-2027
           2.2.1. Global Urea-formaldehyde Market Y-o-Y Growth
     2.3. Global Urea-formaldehyde Market Dynamics
     2.4. Supply Chain
     2.5. Formaldehyde Production Process Analysis
     2.6. Pricing Analysis 
     2.7. Raw Material Sourcing Strategy and Analysis
     2.8. Global Methanol Market Overview
     2.9. Formaldehyde: Regulatory Framework
     2.10. Global Construction Industry Snapshot
     2.11. Construction Spending Overview
     2.12. Global Construction Sector Overview
     2.13. Key Participants Market Presence (Intensity Map) By Region

3. Global Urea-formaldehyde Market Analysis and Forecast 2013-2027 
     3.1. Global Urea-formaldehyde Market Size and Forecast By, 2013-2027
           3.1.1. Medium density fiber board Market Size and Forecast, 2013-2027
                    3.1.1.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.1.1.2. Market Share Comparison, By Region
                    3.1.1.3. Y-o-Y growth Comparison, By Region
           3.1.2. Plywood Market Size and Forecast, 2013-2027
                    3.1.2.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.1.2.2. Market Share Comparison, By Region
                    3.1.2.3. Y-o-Y growth Comparison, By Region
           3.1.3. Particle board Market Size and Forecast, 2013-2027
                    3.1.3.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.1.3.2. Market Share Comparison, By Region
                    3.1.3.3. Y-o-Y growth Comparison, By Region
           3.1.4. Molding Components Market Size and Forecast, 2013-2027
                    3.1.4.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.1.4.2. Market Share Comparison, By Region
                    3.1.4.3. Y-o-Y growth Comparison, By Region
           3.1.5. Other applications Market Size and Forecast, 2013-2027
                    3.1.5.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.1.5.2. Market Share Comparison, By Region
                    3.1.5.3. Y-o-Y growth Comparison, By Region
     3.2. Global Urea-formaldehyde Market Size and Forecast By End-use, 2013-2027
           3.2.1. Furniture Market Size and Forecast, 2013-2027
                    3.2.1.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.2.1.2. Market Share Comparison, By Region
                    3.2.1.3. Y-o-Y growth Comparison, By Region
           3.2.2. Building and Construction Market Size and Forecast, 2013-2027
                    3.2.2.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.2.2.2. Market Share Comparison, By Region
                    3.2.2.3. Y-o-Y growth Comparison, By Region
           3.2.3. Transportation  Market Size and Forecast, 2013-2027
                    3.2.3.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.2.3.2. Market Share Comparison, By Region
                    3.2.3.3. Y-o-Y growth Comparison, By Region
           3.2.4. Electrical & Electronics  Market Size and Forecast, 2013-2027
                    3.2.4.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.2.4.2. Market Share Comparison, By Region
                    3.2.4.3. Y-o-Y growth Comparison, By Region
           3.2.5. Other end-uses Market Size and Forecast, 2013-2027
                    3.2.5.1. Revenue (US$ Mn) & Volume Comparison, By Region
                    3.2.5.2. Market Share Comparison, By Region
                    3.2.5.3. Y-o-Y growth Comparison, By Region

4. North America Urea-formaldehyde Market Size and Forecast, 2013-2027
     4.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     4.2. Revenue (US$ Mn) & Volume Comparison, By Application
     4.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

5. Latin America Urea-formaldehyde Market Size and Forecast, 2013-2027
     5.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     5.2. Revenue (US$ Mn) & Volume Comparison, By Application
     5.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

6. Europe Urea-formaldehyde Market Size and Forecast, 2013-2027
     6.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     6.2. Revenue (US$ Mn) & Volume Comparison, By Application
     6.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

7. Japan Urea-formaldehyde Market Size and Forecast, 2013-2027
     7.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     7.2. Revenue (US$ Mn) & Volume Comparison, By Application
     7.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

8. APEJ Urea-formaldehyde Market Size and Forecast, 2013-2027
     8.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     8.2. Revenue (US$ Mn) & Volume Comparison, By Application
     8.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

9. MEA Urea-formaldehyde Market Size and Forecast, 2013-2027
     9.1. Revenue (US$ Mn) & Volume Comparison, By Country 
     9.2. Revenue (US$ Mn) & Volume Comparison, By Application
     9.3. Revenue (US$ Mn) & Volume Comparison, By End-use 

10. Global Urea-formaldehyde Market Company Share, Competition Landscape and Company Profiles
     10.1. Company Share Analysis
     10.2. Competition Landscape
     10.3. Company Profiles
           10.3.1. BASF SE
           10.3.2. Advachem
           10.3.3. Ashland Inc.
           10.3.4. Ineos Group
           10.3.5. Georgia-Pacific
           10.3.6. Acron Group
           10.3.7. Borden Chemical
           10.3.8. Hexion Inc.
           10.3.9. CHIMICA POMPONESCO S.P.A.
           10.3.10. OJSV “Perechin timber and chemical plant”
           10.3.11. Achema 
           10.3.12. Asta Chemicals Sdn. Bhd.

11. Research Methodology

12. Secondary and Primary Sources

13. Assumptions and Acronyms

14. Disclaimer

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Urea Formaldehyde Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2027