Asia-Pacific Urea-Formaldehyde Glues and Resins Market for Wood Industry– Industry Trends and Forecast to 2030, By Product (Glues (For Wood Industry) and Resins (For Paper Impregnation)), Application (Doors, Shelving, Furniture Panels, Decorative Facades, Interior Furniture, Flooring and Others), Wood Industry End-User (Residential, Commercial), Country (Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, Hong Kong, Taiwan and Rest of Asia-Pacific) – Industry Trends and Forecast to 2030.
Asia-Pacific Urea-Formaldehyde Glues and Resins Market for the wood industry Analysis and Size
Asia-Pacific's urea-formaldehyde glues and resins market for the wood industry is characterized by cost-effectiveness, high bond strength, and water resistance. These adhesives exhibit fast curing, heat resistance, and compatibility with various wood substrates. They find widespread application in plywood, particleboard, MDF, and wood laminates, both for interior and exterior wood bonding, ensuring strong and durable connections in the manufacturing of wood products.
Data Bridge Market Research analyses that the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry which was USD 14,937.91 million in 2022, would rocket up to USD 28,816.98 million by 2030, and is expected to undergo a CAGR of 8.56% during the forecast period of 2023 to 2030. The growing Construction and Furniture Industries segment is expected to drive the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Asia-Pacific Urea-Formaldehyde Glues and Resins Market for the wood industry Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Pricing in USD
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Segments Covered
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By Product (Glues (For Wood Industry) and Resins (For Paper Impregnation)), Application (Doors, Shelving, Furniture Panels, Decorative Facades, Interior Furniture, Flooring and Others), Wood Industry End-User (Residential, Commercial)
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Countries Covered
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Japan, China, India, South Korea, Australia, New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest Of Asia-Pacific
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Market Players Covered
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Mitsui Chemicals Asia Pacific, Ltd. (Japan), Ashland Inc. (U.S.), Georgia-Pacific Chemicals LLC (U.S.), Hexion Inc. (U.S.), Dynea Asia Pacific Pte Ltd. (Singapore), Neste Corporation (Finland), DAP Products Inc. (U.S.), Dynea Singapore Pte Ltd. (Singapore), Akzo Nobel N.V. (Netherlands), Allnex Belgium SA/NV (Belgium), SIKA AG (Switzerland), Huntsman Corporation (U.S.), Ineos Group Limited (U.K.), Chemiplas (New Zealand)
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Market Opportunities
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Market Definition
The urea-formaldehyde glues and resins for the wood industry refers to the market segment focused on the production, distribution, and utilization of urea-formaldehyde-based adhesives and resins for bonding wood products. These adhesives, known for their cost-effectiveness, high bond strength, and water resistance, are extensively used in the manufacturing of plywood, particleboard, medium-density fiberboard (MDF), and other wood-based products for applications in the construction, furniture, and related industries.
Asia-Pacific Urea-Formaldehyde Glues and Resins Market for the wood industry Dynamics
Drivers
- Growing Construction and Furniture Industries
The Asia-Pacific region's construction and furniture industries are expanding rapidly, increasing demand for wood products such as plywood and particleboard. These wood products rely on urea-formaldehyde glues and resins for effective bonding. As the construction and furniture sectors grow, so will the demand for dependable and efficient adhesives in the Asia-Pacific region's wood industry.
- Cost-Effectiveness and Performance
The wood industry values urea-formaldehyde glues and resins for their low cost and superior performance. The long-lasting nature of wood products is ensured by these adhesives' strong bonds and good water resistance. They are a popular option for many applications in the wood industry, such as plywood, particleboard, and wood laminates, where manufacturers place a high priority on cost-effectiveness and dependable bonding.
Opportunities
- Innovation and Product Development
Manufacturers have opportunities to invest in research and development to enhance the performance and environmental characteristics of urea-formaldehyde glues and resins. Meeting the evolving demands for more sustainable and high-performance wood adhesives can lead to market growth and customer satisfaction.
- Rapid urbanization and infrastructure development
The rapid urbanization and infrastructure development in emerging markets like India, China, and Southeast Asian countries create growth prospects for the wood industry. These markets drive the demand for urea-formaldehyde glues and resins in construction and furniture applications, presenting opportunities for manufacturers to expand their presence and cater to the increasing needs of these dynamic regions.
Restraints/Challenges
- Stringent Regulations
As strict guidelines and standards are implemented regarding formaldehyde emissions, the wood industry faces difficulties. These regulations require manufacturers to either create low-emission, formaldehyde-free substitutes or adhere to strict formaldehyde content limits for their products. Adhering to these regulations can be a significant challenge for manufacturers, as they must invest in research and development to create innovative solutions that comply with the stringent requirements while still maintaining product performance and quality. Meeting these regulatory demands presents both challenges and opportunities for the wood industry to adapt and provide safer and more environmentally friendly options for consumers.
- Environmental and Health Concerns
Due to the formaldehyde, they contain, urea-formaldehyde products raise questions about potential health risks and environmental effects. These products' formaldehyde emissions have the potential to harm people's health and worsen air pollution. As a result, there are increasing regulations and restrictions on formaldehyde emissions, which act as restraints on the growth of the urea-formaldehyde market. Manufacturers must navigate these concerns and develop more sustainable and low-emission alternatives to address regulatory requirements and meet consumer demand.
Recent Development
- On May 27, 2022, Bakelite Synthetics acquired Georgia-Pacific Chemicals, expanding its product portfolio and customer base in the phenolics industry. The acquisition brings complementary technology and markets in building materials, transportation, and specialty resins. With headquarters in Atlanta, the combined company will have 1,500 associates and 21 manufacturing sites across 10 countries, enabling greater value delivery and organic growth opportunities in the U.S. residential construction sector.
Asia-Pacific Urea-Formaldehyde Glues and Resins Market for Wood Industry Scope
The Asia-Pacific urea-formaldehyde glues and resins market for the wood industry is segmented on the basis of product and resins, application and wood industry end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Glues (For Wood Industry)
- Resins (For Paper Impregnation)
Application
- Doors
- Shelving
- Furniture Panels
- Decorative Facades
- Interior Furniture
- Flooring
- Others
Wood Industry End-User
- Residential
- Commercial
Asia-Pacific Urea-Formaldehyde Glues and Resins Market for Wood Industry Regional Analysis/Insights
Asia-Pacific urea-formaldehyde glues and resins market for the wood industry is analysed, and market size insights and trends are provided by the country product, application and wood industry end-user as referenced above.
The countries covered in the Asia-Pacific urea-formaldehyde glues, and resins market for wood industry report are Japan, China, India, South Korea, Australia, New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific.
China is expected to dominate the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry due to its large-scale manufacturing capabilities, abundant raw materials, and strong demand from the construction and furniture sectors. China's extensive infrastructure development and booming furniture industry have contributed to its leading position in the market, supported by its competitive pricing, advanced production technologies, and well-established supply chains.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Urea-Formaldehyde Glues and Resins Market for Wood Industry Share Analysis
The Asia-Pacific urea-formaldehyde glues and resins market for the wood industry competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific urea-formaldehyde glues and resins market.
Some of the major players operating in the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry are:
- Mitsui Chemicals Asia Pacific, Ltd. (Japan)
- Ashland Inc. (U.S.)
- Georgia-Pacific Chemicals LLC (U.S.)
- Hexion Inc. (U.S.)
- Dynea Asia Pacific Pte Ltd. (Singapore)
- Neste Corporation (Finland)
- DAP Products Inc. (U.S.)
- Dynea Singapore Pte Ltd. (Singapore)
- Akzo Nobel N.V. (Netherlands)
- Allnex Belgium SA/NV (Belgium)
- SIKA AG (Switzerland)
- Huntsman Corporation (U.S.)
- Ineos Group Limited (U.K.)
- Chemiplas (New Zealand)
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