Lucintel Forecasts the Global Urea Formaldehyde Market to Reach $15 Billion by 2030

Lucintel Forecasts the Global Urea Formaldehyde Market to Reach $15 Billion by 2030

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According to a market report by Lucintel, the future of the global urea formaldehyde market looks promising with opportunities in the furniture, building and construction, transportation and electrical & electronics industries. The global urea formaldehyde market is expected to reach an estimated $15 billion by 2030 from $11 billion in 2023 at a CAGR of 5% from 2023 to 2030. The major drivers for 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.

Browse 100 figures/charts and 81 tables in this 205–page report to understand trends, opportunity and forecast in global urea formaldehyde market to 2030 by applications (medium density fiber board, plywood, particle board, adhesive, molding compound, and others), by end use industry (furniture, building and construction, transportation, electrical and electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Lucintel forecasts that furniture end use will remain the largest end use segment over the forecast period.

Plywood urea formaldehyde will remain the largest segment over the forecast period.

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period.

BASF Corporation, Bakelite Synthetics, Rayonier Advanced Materials, Hexion,Ashland Inc. are the major supplier in the urea formaldehyde market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.

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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056