Pune, Maharashtra -- (SBWire) -- 06/28/2019 --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.

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.

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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.

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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.

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. 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.

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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.

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?

Table of Contents Covered in the report are:

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

And Continue....

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