FORT WORTH, Texas, December 9, 2014 /PRNewswire/ --
Europe is the second leading geographic market for Urea Formaldehyde (UF) Resin market with a share of almost 37% in the global market followed by North America. UF resins are commonly used for bonding wood based panels due to its enormous properties like high tensile strength, low water absorption and mould shrinkage. UF resins are preferred with the applications where the surface area is smooth, and the dimensions are uniform; hence it is majorly used in particle boards.
Browse through the TOC of the Europe Urea Formaldehyde Resin market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Europe has a strong potential in the amino resins market, however, due to a slowdown of the domestic market, and relative high costs than other regions, as well as several underperforming plants has pushed Europe after the Asia-Pacific market.
Particle board and Medium Density Fireboard (MDF) manufacturing industries are major consumers of UF resin in Europe. In 2012, particle board application led the Europe UF resin consumption with a share of 59.0%, followed by MDF (21.6%), roofing mat (13.0%), and others.
In 2012, Germany led the UF resin market with 34.2% share, followed by Italy. Germany is the second biggest consumer of UF resin in the world and is expected to grow at a CAGR of 3.8% from 2013 to 2018. It accounted for 34.2% of the European consumption and 8.5% of global consumption of UF resins. Germany, U.K., Spain, France, Poland, Italy and others are the key countries covered in the report.
The report covers a detailed competitive outlook including market shares and company profiles of key participants operating in the global market. Key players profiled in the report include Advachem SA (Belgium), BASF SE (Germany), Chemique Adhesives & Sealants Ltd (U.K.), Chemiplastica S.p.A (Italy), Dynea Oy (Finland), Ercros S.A. (Spain), and Foresa Industrias Quimicas Del Noroeste SA (Spain), which are the major UF resins producers in Europe.
The North America Urea Formaldehyde Resin Market had around 12% of market share value in 2013, and is projected to reach almost 13% by 2018, growing at a CAGR of 8.3%. North America Urea Formaldehyde Resin market has grown considerably during the past few years and is expected to grow at a rapid pace in the coming years.
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