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Urea-Formaldehyde Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A23328
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Urea-Formaldehyde Resin Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Urea-Formaldehyde Resin | Chemical | USA | 688 USD/MT |
| Urea-Formaldehyde Resin | Chemical | China | 627 USD/MT |
| Urea-Formaldehyde Resin | Chemical | Germany | 634 USD/MT |
In December 2023, the price of urea-formaldehyde resin in the USA reached 688 USD/MT
In China, the price trend for urea-formaldehyde resin settled at 627 USD/MT in December 2023.
The price of urea-formaldehyde resin in Germany touched 634 USD/MT by the end of December 2023.
Urea-Formaldehyde Resin Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Urea-Formaldehyde Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of urea-formaldehyde resin pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of urea-formaldehyde resin price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing urea-formaldehyde resin price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Urea-Formaldehyde Resin Market Analysis
The global urea-formaldehyde resin market size reached US$ 8.946 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 14.733 Billion, at a projected CAGR of 5.70% during 2023-2032.
- The construction industry's robust growth, especially in developing regions, is propelling the demand for urea-formaldehyde resin (UFR). The Asia Pacific region is a key construction and real estate market that will touch nearly 40% of the industry’s output value by 2030. According to the IMARC analysis, the real estate industry is predicted to touch $8,654 billion by 2032. It is growing at a rate of 1.9% from 2024 to 2032, which is leading to a hike in construction activity. This polymer is a crucial binding agent in wood products like particleboard and plywood. Urbanization is driving infrastructure projects and housing demands, which means that there is an increasing demand for this polymer as a dependable adhesive. As such, it is essential to satisfy the expectations of the global construction industry.
- UFR plays a vital role in the manufacturing process of furniture and cabinets due to its adhesive properties and cost-effectiveness. As the furniture industry expands to cater to the increasing demand for residential and commercial spaces, this material experiences a parallel rise in demand. It is estimated by the IMARC Group that the furniture sector will touch USD 701.7 billion by 2030. In this context, the versatility and affordability of this polymer makes it an indispensable component in furniture production.
- This polymer's demand in interior elements like door panels and trim is being driven by the expansion of the automotive industry. UFR is widely adopted owing to its adhesive properties, as it is perfect for joining different materials that are utilized in the interior of cars. The production of passenger automobiles worldwide reached 50 million units in 2022, up 9% from the year before, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA). Beyond this, the commercial vehicle market is expected to increase at a 3.6% annual rate to reach USD 1114.2 billion by 2032. As consumers seek more customized and aesthetically pleasing vehicles, the demand for UFR-enabled interior components rises, driving the market forward.
- Heightened environmental consciousness is prompting manufacturers to innovate and develop low-emission resins. Regulatory pressures and consumer preferences for eco-friendly alternatives drive this shift towards greener formulations. As a rising market segment looks for sustainable solutions, product producers are satisfying regulatory requirements and addressing environmental concerns in order to ensure compliance.
- Ongoing research and development (R&D) efforts result in the formulation of advanced UFR variants with superior properties such as enhanced strength and durability. These technological advancements broaden the application spectrum of this polymer beyond traditional uses. Also, by continuously improving product performance and versatility, manufacturers stay competitive and meet the evolving needs of industries, contributing significantly to the overall growth of the sector.
Urea-Formaldehyde Resin News
The report covers the latest developments, updates, and trends impacting the global urea-formaldehyde resin market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in urea-formaldehyde resin production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the urea-formaldehyde resin price trend.
Latest developments in the urea-formaldehyde resin industry:
- In February 2024, Metafrax Chemicals, a leading producer of urea-formaldehyde and other chemicals, announced that from now on, it will be managed by JSC Roschem, a Russia hydrogen company.
Product Description
Urea-formaldehyde resin (UFR) is a non-transparent thermosetting resin or polymer. It exhibits a clear to pale yellow color in its liquid form, with a high viscosity and low volatility. It has outstanding moisture resistance, thermal stability, and adhesive strength. In liquid form, its pH ranges from 7.5 to 8.5, and its molecular weight varies based on polymerization.
It is synthesized by the reaction of urea with formaldehyde under regulated temperature and pH conditions to make a pre-polymer. After the pre-polymer is condensation polymerized, a solid or liquid resin is created. To preserve its stability and usability, the resin is cooled and kept in appropriate containers.
This polymer is extensively used in woodworking, textile processing, paper manufacturing, coatings, finishes, and the production of electrical appliances, buttons, and other molded objects. It is known for its high bonding strength, cost-effectiveness, fast curing, versatility, chemical resistance, and positive environmental impact.
Regional Coverage
The report provides a detailed analysis of the urea-formaldehyde resin market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the urea-formaldehyde resin price trend.
Global Urea-Formaldehyde Resin Price
The report offers a holistic view of the global urea-formaldehyde resin pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Urea-Formaldehyde Resin Price
European urea-formaldehyde resin prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
This analysis can be extended to include detailed urea-formaldehyde resin price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Urea-Formaldehyde Resin Price
The analysis of urea-formaldehyde resin prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.
Specific data on urea-formaldehyde resin prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Urea-Formaldehyde Resin Price
The report explores the urea-formaldehyde resin pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on urea-formaldehyde resin prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Urea-Formaldehyde Resin Price
The urea-formaldehyde resin pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This analysis can be further extended to include detailed urea-formaldehyde resin prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Urea-Formaldehyde Resin Price
The analysis of urea-formaldehyde resin prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Urea-Formaldehyde Resin |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of urea-formaldehyde resin pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting urea-formaldehyde resin price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the urea-formaldehyde resin industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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