Asia-Pacific urea-formaldehyde glues resins market for wood industry is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 8.5% in the forecast period of 2020 to 2027 and expected to reach USD 22,523.66 million by 2027. Urea-formaldehyde is of low cost and easy usage of adhesive to apply which boosts the market but due to increasing health hazards and environmental concerns regarding the usage of urea formaldehyde and government is also increasing the rules for the use of urea formaldehyde products which restrain the market.
China is dominating in the region due to increasing building and residential in the region increases the demand for the wood products which have positive impact on the demand of the urea formaldehyde but due to increasing health hazards form the formaldehyde gases is concern for the market growth.
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Scope of the Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry Market Report:
- On the basis of product, the urea-formaldehyde glues resins market for wood industry is segmented into glues (for wood industry) and resins (for paper impregnation), Resins (for paper impregnation) is dominating the Asia-Pacific urea-formaldehyde glues resins market for wood industry as resins are the natural adhesive which provide the strength and ability to the woods to handle high pressure and temperature.
- On the basis of application, the urea-formaldehyde glues resins market for wood industry is segmented into doors, shelving, furniture panels, decorative facades, interior furniture, flooring and others. Doors are dominating in Asia-Pacific urea-formaldehyde glues resins market for wood industry as doors are the essential component for completing the household requirement.
- On the basis of wood industry end-user, the urea-formaldehyde glues resins market for wood industry is segmented into residential and commercial. Commercial is dominating in Asia-Pacific urea-formaldehyde glues resins market for wood industry as due to increasing population in developing nation the demand for the apartment and residential houses is increasing in the region.
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The major players covered in the report are Metafrax-Inform, Kronoplus, INEOS, Hexion, Jowat SE, Aica Kogya Co., Ltd., BASF SE, EGGER, Ashland, Dow, DAAS Partners S.r.l., The Dovechem Group., Formal Chemical Group of Companies, Jingbao Group and Akzo Nobel N.V. among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry Market Regional Analysis/Insights
The Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Asia-Pacific Urea-Formaldehyde Glues and Resinsfor Wood Industry market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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