According to a new market report published by Lucintel, the future in the global urea formaldehyde resin market looks promising with opportunities in the furniture, building and construction, transportation, and electrical & electronics industries. The global urea formaldehyde resin market is expected to reach an estimated $11.7 billion by 2023 with a CAGR of 4.1% from 2018 to 2023. The major growth drivers in this market are increasing demand for low cost, highly reactive binders for medium density fiber board, plywood, and particle board in the furniture, building, and construction industries.
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