Urea-formaldehyde glues and resins find wide-ranging applications in the wood industry, particularly in manufacturing plywood, particleboard, MDF, and other engineered wood products. China is the primary market player in the Asia-Pacific region due to its extensive manufacturing capabilities and strong demand in the construction and furniture sectors. China's advanced production technologies, abundant access to raw materials, and competitive pricing further solidify its leading position in the urea-formaldehyde glues and resins market for the wood industry in the Asia-Pacific region.
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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, is expected to reach 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 rise in construction projects leads to higher demand for wood-based products. Urea-formaldehyde glues and resins are essential in manufacturing these products, serving as the binding agents that ensure the structural integrity and durability of engineered wood materials.
Key Findings of the Study
Growing furniture industry is expected to drive the market's growth rate
The furniture industry is a major consumer of urea-formaldehyde glues and resins due to their cost-effectiveness. These materials serve as essential adhesives in the production of wooden furniture, enabling manufacturers to create sturdy and affordable pieces. The ability to bond wood efficiently and securely makes urea-formaldehyde glues and resins a preferred choice, allowing furniture manufacturers to maintain competitive pricing while delivering products that meet quality and durability standards.
Report Scope and Market 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 Million, Volumes in Units, Pricing in USD
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Segments Covered
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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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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
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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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Data Points Covered in the Report
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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.
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Segment Analysis:
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.
- On the basis of product and resins, the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry is segmented into glues (for wood industry), and resins (for paper impregnation).
- On the basis of application, the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry is segmented into doors, shelving, furniture panels, decorative facades, interior furniture, flooring, and others.
- On the basis of wood industry end-user, the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry is segmented into residential and commercial.
Major Players
Data Bridge Market Research recognizes the following companies as the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry players 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).
Market Development
- In May 2022, Bakelite Synthetics completed the acquisition of Georgia-Pacific Chemicals, a significant expansion that enriches its phenolics industry product range and customer reach. This acquisition integrates complementary technologies and market segments in building materials, transportation, and specialty resins. With its headquarters in Atlanta, the merged entity will boast 1,500 employees and operate across 21 manufacturing sites in ten countries. This expansion positions the company to serve the U.S. residential construction sector better and pursue organic growth opportunities.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
As per Data Bridge Market Research analysis:
China is estimated to be the fastest-growing Asia-Pacific urea-formaldehyde glues and resins market for the wood industry in the forecast period 2023-2030
China is poised to lead the urea-formaldehyde glues and resins market in the Asia-Pacific wood industry. This dominance is attributed to China's significant manufacturing capacity, ample access to raw materials, and robust demand from the construction and furniture sectors. The country's extensive infrastructure development and thriving furniture industry have solidified its position, bolstered by competitive pricing, advanced production methods, and well-established supply chains.
For more detailed information about the Asia-Pacific urea-formaldehyde glues and resins market for the wood industry report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-urea-formaldehyde-glues-and-resins-market
