The global urea formaldehyde market is estimated to be valued at USD 33,116.80 million in 2024. The market is projected to reach a value of USD41,572.36 million by 2034, reflecting a CAGR of 1.8% over the assessment period.
Global Trends in the Urea Formaldehyde Industry
Attributes | Key Insights |
---|---|
Estimated Urea Formaldehyde Market Size (2024E) | USD 33,116.80 million |
Projected Market Value (2034F) | USD 41,572.36 million |
Value-based CAGR (2024 to 2034) | 1.8% |
Attributes | Details |
---|---|
Top End use | Fertilizer |
Market Share in 2024 | 91.20% |
The fertilizer segment is estimated to acquire a market share of 91.20% in 2024. Key factors that are supplementing the segment’s growth are:
Historical CAGR (2019 to 2023) | 2.30% |
---|---|
Forecasted CAGR (2024 to 2034) | 1.80% |
During the historical period, the urea formaldehyde market was valued at USD 32,142.36 million in 2019. By 2023, the market size reached a valuation of USD 32,457.29 million.
The market grew at a snail pace due to inflation and the oversupply of urea formaldehyde in the top markets like the United States and Europe. The price of urea formaldehyde dropped in March 2023 due to reduced demand from various downstream industries.
Additionally, US bank crunch led to lower consumer spending. Conclusively, the urea formaldehyde industry observed reduced demand as consumers became less able or willing to purchase them.
Over the forecast period, the market growth is anticipated to further slowdown, as businesses invest in developing alternatives to urea formaldehyde to reduce their impact on the environment. By 2034, the urea formaldehyde market is expected to attain USD 41,572.36 million, expanding at a CAGR of 1.80% over the forecast period.
The use of urea formaldehyde in the United States and Germany is expected to record sluggish CAGRs, as these countries are forward in innovating and developing alternatives of urea formaldehyde. Countries like China, India, and Australia are projected to experience a stark contrast to the developed countries in terms of market growth.
Countries | Forecast CAGR (2024 to 2034) |
---|---|
United States | 2.50% |
Germany | 3.30% |
China | 7.40% |
India | 8.70% |
Australia | 6.60% |
In the United States, the demand for urea formaldehyde is anticipated to register a CAGR of 2.50% through 2034. The top factors that back the industry’s progress include:
In Germany, the urea formaldehyde industry is projected to advance at a CAGR of 3.30% from 2024 to 2034. Listed below are the current market dynamics:
The China urea formaldehyde market is expected to record a CAGR of 7.40% through 2034. The market is projected to grow due to following reasons:
The consumption of urea formaldehyde formula in India is anticipated to surge at a CAGR of 8.70% over the forecast period. The market is propelled forward by:
The market in Australia is projected to record a CAGR of 6.60% over the forecast period. In the next ten years, the market is expected to grow on the ground of:
The urea formaldehyde industry is crowded with prominent medium- and small-scale players. Thus, the market is considered semi-fragmented in nature. The highly competitive nature of urea formaldehyde rests on the constant new releases of technologies, which is emerging from the research and development activities.
Established market players are going for increased production capacities to have a competitive edge. New, small, and medium-sized firms are focusing on providing cost-effective products to accelerate their local market penetration.
Market players are eyeing the markets that have high growth potential, especially in developing economies where the furniture and construction sectors are thriving. Additionally, players are collaborating with distributors, raw material suppliers, or downstream users to develop synergies and enhance their supply chains.
Industry participants are also consolidating their market share via strategic mergers and acquisitions to enjoy economies of scale and access to new technologies. Additionally, players are zeroing in on research and development activities to drive innovation.
New Developments Impacting the Urea Formaldehyde Market
Report Attributes | Details |
---|---|
Current Total Market Size (2024) | USD 33,116.80 million |
Projected Market Size (2034) | USD 41,572.36 million |
CAGR (2024 to 2034) | 1.8% |
Base Year for Estimation | 2023 |
Historical Period | 2019 to 2023 |
Projections Period | 2024 to 2034 |
Quantitative Units | USD million for value and kilotons for volume |
Forms Analyzed (Segment 1) | Liquid, Powder, Solid |
End Uses Analyzed (Segment 2) | Furniture, Plywood, Laminates, Particle Board, Wood Adhesives, Medium Density Fiberboard, Automotive, Decorative Laminates, Molding Compounds, Abrasives, Tires, Electrical Appliances, Electronic Adhesives, Coatings, Agriculture, Fertilizer, Roofing, Foundry Sand Molds, Textile (Wrinkle-Resistant Fabrics, Cotton Blends), Paper, Paints, Surface Coatings |
Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
Countries Covered | United States, Canada, Mexico, Brazil, Argentina, Germany, France, United Kingdom, Italy, Spain, Netherlands, China, India, Japan, South Korea, ANZ, GCC Countries, South Africa |
Key Players influencing the Urea Formaldehyde Market | BASF SE, Hexion, Inc., Hexzachem Sarawak Sdn Bhd, Bakelite Synthetics, Acron PJSC, Asta Chemicals, ARCL Organics Ltd., Capital Resin Corporation, Biqem, Metadynea, Advachem SA, Kronoplus Limited, Foresa, Sadepan, Siva Chemical Industries, Foremark Performance Chemicals Inc., LRBG Chemicals, Others |
Additional Attributes | Dollar sales by end use (fertilizer, adhesives, automotive), Demand trends for low-emission urea formaldehyde resins, Regional expansion in construction and agriculture, Emerging alternatives and regulation impact on formaldehyde-based resins |
Customization and Pricing | Customization and Pricing Available on Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Tons) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 4: Global Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 6: Global Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: North America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 9: North America Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 10: North America Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 11: North America Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 12: North America Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Latin America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 15: Latin America Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 16: Latin America Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 17: Latin America Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 18: Latin America Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: Western Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 21: Western Europe Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 22: Western Europe Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 23: Western Europe Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 24: Western Europe Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: Eastern Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 27: Eastern Europe Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 28: Eastern Europe Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 29: Eastern Europe Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 30: Eastern Europe Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 32: South Asia and Pacific Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 34: South Asia and Pacific Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 36: South Asia and Pacific Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 38: East Asia Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 39: East Asia Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 40: East Asia Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 41: East Asia Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 42: East Asia Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 44: Middle East and Africa Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Form, 2019 to 2034
Table 46: Middle East and Africa Market Volume (Tons) Forecast by Form, 2019 to 2034
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by End-Use, 2019 to 2034
Table 48: Middle East and Africa Market Volume (Tons) Forecast by End-Use, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Form, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Volume (Tons) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 9: Global Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 10: Global Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 11: Global Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 12: Global Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 13: Global Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 14: Global Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 15: Global Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 16: Global Market Attractiveness by Form, 2024 to 2034
Figure 17: Global Market Attractiveness by End-Use, 2024 to 2034
Figure 18: Global Market Attractiveness by Region, 2024 to 2034
Figure 19: North America Market Value (US$ Million) by Form, 2024 to 2034
Figure 20: North America Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 23: North America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 26: North America Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 27: North America Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 28: North America Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 29: North America Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 30: North America Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 31: North America Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 34: North America Market Attractiveness by Form, 2024 to 2034
Figure 35: North America Market Attractiveness by End-Use, 2024 to 2034
Figure 36: North America Market Attractiveness by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) by Form, 2024 to 2034
Figure 38: Latin America Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 45: Latin America Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 49: Latin America Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 50: Latin America Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 52: Latin America Market Attractiveness by Form, 2024 to 2034
Figure 53: Latin America Market Attractiveness by End-Use, 2024 to 2034
Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) by Form, 2024 to 2034
Figure 56: Western Europe Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 57: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 59: Western Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 62: Western Europe Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 63: Western Europe Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 66: Western Europe Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 67: Western Europe Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 70: Western Europe Market Attractiveness by Form, 2024 to 2034
Figure 71: Western Europe Market Attractiveness by End-Use, 2024 to 2034
Figure 72: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 73: Eastern Europe Market Value (US$ Million) by Form, 2024 to 2034
Figure 74: Eastern Europe Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 77: Eastern Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 81: Eastern Europe Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 85: Eastern Europe Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 88: Eastern Europe Market Attractiveness by Form, 2024 to 2034
Figure 89: Eastern Europe Market Attractiveness by End-Use, 2024 to 2034
Figure 90: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 91: South Asia and Pacific Market Value (US$ Million) by Form, 2024 to 2034
Figure 92: South Asia and Pacific Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: South Asia and Pacific Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 99: South Asia and Pacific Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 103: South Asia and Pacific Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 106: South Asia and Pacific Market Attractiveness by Form, 2024 to 2034
Figure 107: South Asia and Pacific Market Attractiveness by End-Use, 2024 to 2034
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 109: East Asia Market Value (US$ Million) by Form, 2024 to 2034
Figure 110: East Asia Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 111: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 113: East Asia Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 116: East Asia Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 117: East Asia Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 118: East Asia Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 120: East Asia Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 121: East Asia Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 122: East Asia Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 124: East Asia Market Attractiveness by Form, 2024 to 2034
Figure 125: East Asia Market Attractiveness by End-Use, 2024 to 2034
Figure 126: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 127: Middle East and Africa Market Value (US$ Million) by Form, 2024 to 2034
Figure 128: Middle East and Africa Market Value (US$ Million) by End-Use, 2024 to 2034
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 131: Middle East and Africa Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Form, 2019 to 2034
Figure 135: Middle East and Africa Market Volume (Tons) Analysis by Form, 2019 to 2034
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Form, 2024 to 2034
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Form, 2024 to 2034
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by End-Use, 2019 to 2034
Figure 139: Middle East and Africa Market Volume (Tons) Analysis by End-Use, 2019 to 2034
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by End-Use, 2024 to 2034
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by End-Use, 2024 to 2034
Figure 142: Middle East and Africa Market Attractiveness by Form, 2024 to 2034
Figure 143: Middle East and Africa Market Attractiveness by End-Use, 2024 to 2034
Figure 144: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The market is estimated to be worth USD 33,116.80 million in 2024.
The urea formaldehyde industry is projected to register a CAGR of 1.8% over the forecast period.
By 2034, the urea formaldehyde industry is forecast to be worth USD 41,572.36 million.
India is expected to observe significant market growth.
Fertilizers are projected to capture a prominent market share.
Key players in the urea formaldehyde market include Kronoplus Limited, Foresa, and Sadepan.
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.