The global urea formaldehyde resin market is expected to reach an estimated $11.7 billion by 2023 with a CAGR of 4.1% from 2018 to 2023
NEW YORK, Nov. 1, 2018 /PRNewswire/ --
Trends, opportunities and forecast in urea formaldehyde resin market to 2023 by end use industry (furniture, building and construction, transportation, electrical and electronics, and others), applications (medium density fiber board, plywood, particle board, adhesive, molding compound, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Read the full report: https://www.reportlinker.com/p05606230
According to a new market report published by Lucintel, the future in the global urea formaldehyde resin market looks promising with opportunities in the furniture, building and construction, transportation, and electrical & electronics industries. The global urea formaldehyde resin market is expected to reach an estimated $11.7 billion by 2023 with a CAGR of 4.1% from 2018 to 2023. The major growth drivers in this market are increasing demand for low cost, highly reactive binders for medium density fiber board, plywood, and particle board in the furniture, building, and construction industries.
Emerging trends, which have a direct impact on the dynamics of the urea formaldehyde resin industry, include development of scavenger technology to reduce the VOC content.
Urea Formaldehyde Resin by end use industry
Urea Formaldehyde Resin Market
Urea Formaldehyde Resin Manufacturers
The study includes the urea formaldehyde resin market size and forecast for the global urea formaldehyde resin market through 2023, segmented by application, end use industry, and region as follows:
Urea Formaldehyde Resin Market by Application (Volume (Million Pounds) and $M shipment analysis for 2012 – 2023):
Medium density fiber board Plywood Particle board Adhesives Molding compounds Others
Urea Formaldehyde Resin Market by End Use Industry (Volume (Million Pounds) and $M shipment analysis for 2012 – 2023):
Furniture Building and Construction Transportation Electrical and Electronics Others
Urea Formaldehyde Resin Market by Region (Volume (Million Pounds) and $M shipment analysis for 2012 – 2023):
North America Europe Asia Pacific The Rest of the World
Some of the urea formaldehyde resin companies profiled in this report include BASF, Georgia Pacific, Rayonier Advanced Material, Hexion, Ashland, Foresa, INEOS, Advachem SA, Kronospan, and SAFCO and others.
On the basis of our comprehensive research, Lucintel forecasts that medium density fiberboard will remain the largest application by value and volume over the forecast period because of growing demand for MDF in doors, window boards, shelving, furniture panels, wall linings, baseboards, moldings, and decorative facades. Lucintel predicts that the plywood application segment will witness the highest growth during the forecast period due to growing home renovation activities and increase in new residential and commercial construction.
Within this market, furniture will remain the largest end use industry by value and volume due to changing lifestyle, increase in consumer purchasing power, and growing interest in home decoration. Building and construction are expected to witness the highest growth due to growing population and increasing urbanization.
Asia Pacific is expected to remain the largest region by value and volume; this region is also expected to experience the highest growth over the forecast period due to growth in building and construction activities and increasing production of automotive and appliances.
Some of the features of "Urea Formaldehyde Resin Market Report: Trends, Forecast and Competitive Analysis" Include:
Market size estimates: Global urea formaldehyde resin market size estimation in terms of value ($M) and volume (Million Pounds) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Global urea formaldehyde resin market size by various applications such as application and end use industry in terms of value and volume shipment.
Regional analysis: Global urea formaldehyde resin market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions for urea formaldehyde resin in the global urea formaldehyde resin market.
Strategic analysis: This includes M&A, new product development, and competitive landscape for urea formaldehyde resin in the global urea formaldehyde resin market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global urea formaldehyde resin market by end use industry (furniture, building and construction, transportation, electrical and electronics, and others), applications (medium density fiber board, plywood, particle board, adhesive, molding compound, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the urea formaldehyde resin market?
Q.5 What are the business risks and threats to the urea formaldehyde resin market?
Q.6 What are emerging trends in this urea formaldehyde resin market and the reasons behind them?
Q.7 What are some changing demands of customers in the urea formaldehyde resin market?
Q.8 What are the new developments in the urea formaldehyde resin market? Which companies are leading these developments?
Q.9 Who are the major players in this urea formaldehyde resin market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this urea formaldehyde resin area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this urea formaldehyde resin market?
Read the full report: https://www.reportlinker.com/p05606230
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