Globe Newswire 8-Nov-2018 10:56 AM
Dublin, Nov. 08, 2018 (GLOBE NEWSWIRE) -- The "Urea Formaldehyde Resin Market Report: Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
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 future in the global urea formaldehyde resin market looks promising with opportunities in the furniture, building and construction, transportation, and electrical & electronics industries. 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.
The report 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. The researcher 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:
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2012 to 2023
3.1: Macroeconomic Trends and Forecast
3.2: Global Urea Formaldehyde Market: Trends and Forecast
3.3: Global Urea Formaldehyde Market by Application
3.3.1: Particle Board
3.3.4: Adhesive and Coating
3.3.5: Molding Compound
3.4: Global Urea Formaldehyde Market by End Use Industry
3.4.2: Building and Construction
3.4.4: Electrical and Electronics
4. Market Trends and Forecast Analysis by Region
4.1: Global Urea Formaldehyde Market by Region
4.2: North American Urea Formaldehyde Market
4.3: European Urea Formaldehyde Market
4.4: APAC Urea Formaldehyde Market
4.5: ROW Urea Formaldehyde Market
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Urea Formaldehyde Market by Application
6.1.2: Growth Opportunities for the Global Urea Formaldehyde Market by End Use Industry
6.1.3: Growth Opportunities for the Global Urea Formaldehyde Market by Region
6.2: Emerging Trends in the Global Urea Formaldehyde Market
7. Company Profiles of Leading Players
7.1: BASF Corporation
7.2: Georgia-Pacific Chemicals LLC
7.3: Rayonier Advanced Materials.
7.4: Hexion Inc.
7.8: Advachem SA
7.9: Kronospan Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/mrjcm6/11_7_billion?w=12
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