The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Urea Formaldehyde. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Urea Formaldehyde Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Urea Formaldehyde market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Urea Formaldehyde
This newly published and insightful report sheds light on Market Insights of Urea Formaldehyde, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Urea Formaldehyde Market. Urea formaldehyde sales are highly influenced by increasing demand from the building and construction industry. The growing use of formaldehyde as an important chemical to manufacture building materials and several household products has been identified as a key factor likely to fuel urea formaldehyde market growth.
Urea formaldehyde resins are gaining significance as easily available, time-effective curing resins for varied applications in the wood industry, apart from being sought-after wood adhesives for fibrous boards, medium density fiber boards, particleboards, and granular boards. Building and construction continues to remain a lucrative end-use area for urea formaldehyde, accounting for nearly 60% volume sales in 2018. This can be attributed to the fact that urea formaldehyde is a vital building block in construction materials, often used in various converted forms. Adoption of urea formaldehyde in the building and construction sector remains influenced by their integral role in manufacturing composites and engineered wood products for commercial as well as residential applications.
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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.
According to Fact.MR study, APEJ held over 50% sales of urea formaldehyde in 2018, and will record a 5.0% Y-o-Y in 2019. The urea formaldehyde market in APEJ continues to remain driven by their bolstering demand in diverse end-use industries, particularly in the construction and building industry. Gains will also be healthy in Europe, on the account of growing adoption of formaldehyde resins by particle board, and medium-density fireboard manufacturing industries in the region.
Fact.MR’s study provides an accurate forecast on the urea formaldehyde market for the period between 2018 and 2027. The urea formaldehyde market has been envisaged to record a moderate CAGR of over 4.0% through 2027.
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Key urea formaldehyde manufacturers
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,
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.
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More Valuable Insights on Urea Formaldehyde Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Urea Formaldehyde, Sales and Demand of Urea Formaldehyde, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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