Urea Formaldehyde Market Portrays High-End Demand across Major Geographies during 2018-2027

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The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global urea formaldehyde market during the period until 2027. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the urea formaldehyde market during the forecast period.

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The urea formaldehyde market remains highly fragmented, with a number of mid-sized and emerging players competing for market share. The growing regulations are influencing market players to develop urea formaldehyde based adhesives with lower formaldehyde emissions. The leading players in the market, including BASF SE, Advachem, Ashland Inc., Ineos Group, Georgia-Pacific, and Hexion Inc account for around 8% – 10% of the urea-formaldehyde market.

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,

  • Chemicals giant and a key manufacturer of urea resins and formaldehyde resins, Ineos Group, is building a new chemical plant in Antwerp, Belgium, for the gas-altering facilities at a cost of US $3.42 billion. The hefty investment is expected to change the picture of chemical sector and will offer varied benefits to the Belgium and other European economies.
  • A leading player in urea formaldehyde market, Georgia-Pacific Chemicals LLC, has recently introduced a novel line of resins, specially designed to cater to the needs of the powder coating manufacturers. Earlier, Georgia-Pacific Chemicals LLC created a resin that can help manufacturers offer coatings composed of lower volatile organic compounds (VOC).
  • BASF SE, one of the leading urea formaldehyde manufacturers, is investing Rs. 16,000 crore in setting up a petrochemical production hub in Gujarat, as a part of a joint venture with Adani Group, which is the largest private thermal power producer in India.
  • Acron Group, another prominent player in urea formaldehyde markethas set up a subsidiary Acron Brasil Ltd in Sãn Paulo, Brazil, as a part of a strategic plan to deeper penetrate the market. This move is strategically aimed at delivering comprehensive service to customers in Brazil while driving the sales of its own and other third-party products.
  • A leading methanol and formaldehyde producer, Metafrax, has inked an agreement with Switzerland-based Casale SA, to jointly build urea, melamine, and ammonia facility in Gubakhka. The substantial part of products will be used onsite to manufacture synthetic gums and UFC as melamine feedstock.

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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Urea formaldehyde (UF) products, commonly referred to as aminoplasts, are increasingly gaining traction in the wood industry on account of their cost-effectiveness and robust strength. They are being widely used in the wood industry for manufacturing particleboards, fibrous boards, medium density fiber boards, and granular boards. Owing to their numerous features, such as cost-effectiveness, resistance to mold formation, easy adaptability in diverse curing conditions, low cure temperature, exceptional thermal properties, and excellent water solubility of the (uncured) resin, these resins are gaining prominence as a key wood adhesive.

End-User Preference for Urea Formaldehyde Alternatives Growing Owing to Toxicity Concerns

Despite their widespread use, formaldehyde based adhesives continue to trigger concerns, owing to their potential health impact. As formaldehyde is a suspected carcinogen, the rising toxicity concerns raised by health and environmental organizations, key regulators, and end-users are influencing urea formaldehyde manufacturers to develop new urea resins, formaldehyde resins and urea-formaldehyde resins, which emit formaldehyde in negligible amount.

Sensing the severity of such toxic concerns, many manufacturers have introduced low emitting resin system. EcoBindTM by chemical company Hexion and E-Natural® by Arclin Group has been developed to keep emissions low without compromising on the quality.

Another prominent player in urea formaldehyde market, Georgia Pacific Chemicals, has introduced LEAF® low-emission resins, a group of wood adhesive technologies, such as LEAF C2 Resins, LEAF GB resins, etc., that work in compliance with diverse green building standards and CARB Airborne Toxic Control Measure (ATCM) for Composite Panels Phase 2 emission requirements. Based on the requirements and process followed by a manufacture, LEAF C2 adhesives can be a melamine urea formaldehyde or urea formaldehyde formulation. Manufacturers’ instant action to address such concerns is in turn likely to maintain buoyancy in the adoption of urea formaldehyde resins.

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