U.S. Accounted for 66.8% of the Total UFR Consumption in North America

Date: 2015-08-17

“The report covers the North America urea formaldehyde resin market. It further divides the market on the basis of application and country. The market data is given with respect to volume (Kilo Tons) and value ($Million). The value of the North America UFR market was $714.6 million in 2014 and is projected to grow at a CAGR of 6.6% from 2014 to 2019. 

The study provides the value chain analysis with respect to UFR raw materials, manufacturers, and end-users. The value chain describes the key contributors to the materials market at different stages from product development to end use. It represents the key players who are contributing to the growth of the North America UFR market.

The impacts of different market factors, such as drivers, restraints, and opportunities are also illustrated in the report. This gives an idea about the key drivers, such as developing furniture industry, rising demand for wood-based panels, rising population, and growing infrastructure industry; and restraints, such as UFR’s toxic emission property, which has influenced major countries to put UFR under stringent regulations. 

The UFR  market is also classified on the basis of applications. The important applications include particleboard, MDF (Medium Density Fiberboard), plywood, molding powder, adhesives and coating, and roofing mat, among others. The particleboard segment held the largest share of the UFR market in North America, in terms of consumption. 

The key companies in the North America UFR market are BASF S.E. (Germany), Momentive Specialty Chemicals (U.S.), INEOS (U.K.), Allnex (U.S.), Tembec Inc. (Canada), and Georgia-Pacific LLC (U.S.). These companies are consistently focusing on expanding their production capacities to achieve a competitive advantage, and thereby serve the customers more effectively. Investments in expansion of plant capacities, followed by acquisitions, were the most preferred strategies by the top players in 2013 and 2014.

The U.S. accounted for 66.8% of the total UFR consumption in North America, owing to the rising demand for wood-based panels in the country. Canada is the second-largest market for UFR in North America, as of 2014, having accounted for a share of 25.1%. 

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