Urea Formaldehyde Market, Spurred by a Burgeoning Automobile Sector & Need for Adhesives, Predicted to Register Solid Growth Till 2022 Market Banking on Asia-Pacific’s Booming Construction to Expand Future Revenue Streams
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Accoring to the market research the report “Urea Formaldehyde Market: By Application (Adhesives, Particle board, and Others); By End-User Industry (Automobiles, Electrical Appliances, and Others) & By Region (Europe, North America, Asia-Pacific, RoW)-Forecast (2016-2022)”, published by IndustryARC, estimates the growing demand for adhesives will serve as a key growth driver during the forecast period.
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The Urea Formaldehyde Market deals with the development of an opaque thermosetting synthetic resin sourced from a chemical blend of urea and formaldehyde. Urea formaldehyde glue is primarily expended as an adhesive for holding together building or construction material.
Across the world, improvement of urea formaldehyde resin production and storage technologies, rising interest for good quality and monetarily feasible cements and gums as well as formaldehyde insulation, a prospering car industry, developing electrical appliances, and favorable attributes of urea formaldehyde like high elasticity and scratch resistance are the prime development drivers of the Urea Formaldehyde Market.
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Scope & Regional Forecast of the Urea Formaldehyde Market
growing embrace of urea formaldehyde products for application in cutting-edge industry verticals, and developing economies like China and India are expected to open up new growth opportunities for the urea formaldehyde in general. But, unstable costs and inconsistent accessibility of crude materials, easy access to substitute mixes, and stringent government regulations regarding the environmental safety are the key hindrances for the growth of the Urea Formaldehyde Market.
Geographically, North America dominates the Urea Formaldehyde Market while Asia Pacific is anticipated to register the quickest development. This is primarily due to a quickly expanding vehicle industry, success of a technological advanced industrial sector, and rising utilization of electrical apparatuses in developing countries like China, and India in this region.
Among every one of the applications, the particles board segments holds the biggest share in the Urea Formaldehyde Market. Home apparatuses and electrical machines are the market pioneers among all end-user businesses of this particular formaldehyde, attributable to rising need of adhesives.
Segmentations & Key Players Involved in the Urea Formaldehyde Market
The Urea Formaldehyde Market can be broken down into various segmentations on the basis of -
- Application: Adhesives, Particle board, Plywood, Roofing mats and Others.
- End-User Industry: Automobiles, Electrical Appliances, Home Appliances (Furniture), Agriculture and Others.
- Geography: Europe, Asia-Pacific, North America and Rest of the World.
Some of the key players involved in the Urea Formaldehyde Market are as follows:
- The DOW Chemical Company
- Ashland Inc.
- Kronospan Ltd.
- Advachem SA
Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a six year period of 2016 - 2022, to assess how the market will develop.
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