Urea Formaldehyde Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Application (Particle Board, Wood Adhesives, Plywood, Medium-density Fiberboard, and Other Applications), by End-user Industry (Automobiles, Electrical Appliances, Agriculture, Building and Construction, and Other End-user Industries), and Geography

Market Snapshot

Market Summary - Urea Formaldehyde Market
Study Period:


Base Year:


Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for urea formaldehyde is expected to register a CAGR of more than 5% during the forecast period of 2019 – 2024. One of the major factors driving the market is the rise in demand for good quality and economically viable adhesives and resins in automobile and electrical appliances. Health hazards regarding urea formaldehyde is expected to hinder the growth of the market studied.

  • The building and construction segment dominated the market in 2018, and is expected to grow during the forecast period.
  • Development of products with lower formaldehyde emissions is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.

Scope of the Report

The urea formaldehyde market report includes:

Particle Board
Wood Adhesives
Medium-density Fiberboard
Other Applications
End-User Industry
Electrical Appliances
Building and Construction
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Agriculture Sector

  • Nitrogen is the most important essential nutrient that plays a major role in achieving maximum crop yield in agriculture. Urea formaldehyde is used in agriculture, as a controlled release source of nitrogen fertilizer increase the productivity of crops.
  • With the growing population, the need for food is also increasing. Owing to these changes, developments in agricultural activities and the use of nitrogen-based fertilizers are increasing. This, in turn, is driving the demand for urea formaldehyde.
  • In 2018, IBRD/IDA had commitments worth USD 6.8 billion toward the agriculture and related sectors. In 2018, 93 projects that were implemented helped provide 5.6 million farmers with agricultural assets and services. Two million farmers adopted improved agricultural technology. Irrigation and drainage were improved on 540,000 hectares of agricultural land.
  • Moreover, the International Finance Corporation (IFC) invested USD 4.5 billion in the agribusiness, food companies, and banks, which provide assistance to agriculture.
  • Asia-Pacific is one of the key continents contributing to the agricultural industry. China, a big agricultural country endowed with rich agricultural resources, has a long history of farming and the tradition of intensive cultivation, as well as a huge rural population. Currently, China is ranked first in the world in terms of the production of cereals, cotton, fruit, vegetables, meat, poultry, eggs, and fishery products.
  • With the increasing demand for food products, agricultural activities are likely to to surge, thereby increasing the consumption of pesticides.
Segmentation - Urea Formaldehyde Market

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific dominated the market in 2018 across the world, with the largest consumption from countries such as China and India.
  • China is the largest producer of urea formaldehyde in the world. With the increasing population, the need and demand for food is increasing on a daily basis, due to which, the advancements in the agriculture activities are changing gradually. To accomplish these changes, fertilizer performance and efficiency are necessary, resulting in increased consumption of urea formaldehyde.
  • The furniture industry in China has been rising steadily over the last decade. The production of Chinese furniture industry accounted for around 39% of the world’s furniture production in 2018.
  • This burgeoning production scenario of the furniture industry is instrumental in propelling the market demand for various products, such as particleboard, medium-density fiberboard (MDF), mold finishes, oriented stranded board (OSB), etc., which in turn, boosts the consumption of urea formaldehyde in the country.
  • China is home to the largest textile production industry in the world, and is  almost worth one-fourth of the global textile industry. The country is also home to the largest textile export industry in the world, with an export value of more than USD 100 billion. The huge market size of the textile industry is instrumental in promoting the use of urea formaldehyde products in the country.
  • Taking all these factors into consideration, the consumption of urea formaldehyde is expected to increase at a decent rate during the forecast period.
Regional - Urea Formaldehyde Market

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Competitive Landscape

The urea formaldehyde market is partly fragmented, and is dominated by very few players. Some of these major players include BASF SE, Hexion, Ashland, ASTACHEM, and Metadynea.

Major Players

  1. BASF SE
  2. Hexion
  3. Ashland
  5. Metadynea

* Complete list of players covered available in the table of contents below

Market Concentration - Urea Formaldehyde

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Urea Formaldehyde in the Agriculture Industry

      2. 4.1.2 Rise in Demand for Good-quality and Economically Viable Adhesives and Resins in Automobile and Electrical Appliances

    2. 4.2 Restraints

      1. 4.2.1 Health Hazards Regarding Urea Formaldehyde

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis

    6. 4.6 Technological Snapshot

    7. 4.7 Import-export Trends

    8. 4.8 Regulatory Policy Analysis


    1. 5.1 Application

      1. 5.1.1 Particle Board

      2. 5.1.2 Wood Adhesives

      3. 5.1.3 Plywood

      4. 5.1.4 Medium-density Fiberboard

      5. 5.1.5 Other Applications

    2. 5.2 End-User Industry

      1. 5.2.1 Automobiles

      2. 5.2.2 Electrical Appliances

      3. 5.2.3 Agriculture

      4. 5.2.4 Building and Construction

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Hexion

      2. 6.4.2 BASF SE

      3. 6.4.3 Georgia-Pacific Chemicals LLC

      4. 6.4.4 Hexza Corporation Berhad

      5. 6.4.5 Metadyena

      6. 6.4.6 Jiangsu Sanmu Group Corporation

      7. 6.4.7 Ashland

      8. 6.4.8 ARCL Organics Ltd

      9. 6.4.9 Kronospan

      10. 6.4.10 Advachem SA

      11. 6.4.11 Qatar Fertiliser Company

      12. 6.4.12 Saudi Basic Industries Corporation (SABIC)

      13. 6.4.13 Acron Group

      14. 6.4.14 Astachem

    5. *List Not Exhaustive

    1. 7.1 Development of Products with Lower Formaldehyde Emissions�

**Subject to Availability

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