Asia-Pacific Urea Formaldehyde Resin Market is Expected to to grow to $3,427.7 million in 2018 - A Report by MicroMarket Monitor

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The market has grown considerably during the past few years and is expected to grow at a more rapid pace in the coming years.

MicroMarket Monitor

MicroMarket Monitor

Key players in the Asia-Pacific Urea Formaldehyde Resin Market are Allnex Belgium Sa (Belgium), Hexazachem Sarawak Sdn BHd (Malaysia), Royal Chemie (Indonesia), BASF Chemicals (Germany) & others.

Urea formaldehyde (UF) resin is an opaque cross linked thermosetting polymer produced by condensation of urea and formaldehyde in an aqueous solution in the presence of ammonia as an alkaline catalyst. The product of the reaction is a colorless solution that is dried to form a powder for end applications. Urea formaldehyde solutions can be strengthened with an addition of cellulose and can also be tinted by adding pigments to make light, thin, strong, colorful, and translucent articles for household applications.

Browse through the TOC of the Asia-Pacific Urea Formaldehyde Resin Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.

The Asia Pacific urea formaldehyde resin market is estimated to grow to $3,427.7 million by 2018 at a CAGR of 6.6% from the year 2013-2018.

Asia-Pacific accounts for a huge share of around 41% in the global urea formaldehyde resin market due to demand from the emerging economies of the region as a result of the continuous expansion and investment made by these countries in the concerned industry.

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China is the biggest producer and consumer of UF resins. Many major players have invested in the Chinese market to increase their production capacity due to low manufacturing costs than North American and European countries. Expansion of plywood production capacities in Indonesia, and increase in the penetration of UF resins, used as wood adhesives in Indonesian plywood industry has driven the future demand of UF resins in the Indonesian market.

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The plywood industry led the APAC UF resin consumption with a share of 37.7%, followed by medium density fiberboard. BASF SE (Germany), Dynea Oy (Finland), Cytec Industries Inc. (U.S.), and Jiangsu Sanmu Group Co. Ltd (China) are the major UF resin producers in the Asia-Pacific region.

The Asia-Pacific Urea formaldehyde resin market has been segmented on the basis of application and end-user. The segments have been analyzed and forecast for a time period ranging from 2012 to 2018. The forecast is on the basis of volume (Kilo tons) and revenue (USD million) for country level based on current and expected trends of the industry. Geographically, the market has been segmented into China, Malaysia, Indonesia, South Korea and others, the demand has been analyzed and forecast based on current trends for a period of six years, ranging from 2012 to 2018.The Major applications studied include particle board, medium density fiberboard, adhesives, plywood, roofing mats, moulding powder.

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North America Urea Formaldehyde Resin Market

North America’s wood panel industry is growing from past few years. The demand of wood panels from the countries such as U.S. and Canada are contributing largely in the region’s wood production. The pulp and paper production and consumption is growing appreciably after the economic recession in 2008-2009. The estimated growth rate of 2.8% is expected to be seen in the region’s wood production in the coming years. U.S. is the major consumer of urea formaldehyde resin in North America, accounting for almost 66.9% of the total consumption. Subsequent to U.S. are Mexico and Canada.

Presently, the demand for fiber glass mat, which is made with fiber glass strands bonded with urea formaldehyde, and new American Roofing Manufacturers Association (ARMA) regulations have increased pressure to develop chemical bonding systems with greater strength and more flexibility. The increasing demand of fiberglass assisted the growth of UFR in U.S. and is expected to grow with more urea formaldehyde modifiers engineered to meet the fiberglass mat industry needs.

About MicroMarket Monitor:

MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.

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