“Urea Formaldehyde Market” report 2019-2024 provides detailed summary of company competition, market demand, regional forecast, marketing price and new investment feasibility analysis is included of Urea Formaldehyde market. It also covers approximate CAGR, key-players, scope of the report, regional analysis, major market factors of Urea Formaldehyde market, reasons of buying this report and complete TOC of report.
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There are 4 key segments covered in this Urea Formaldehyde Systems Market report:
- Competitor segment
- Product type segment
- End-use/application segment
- Geography segment
Urea Formaldehyde Market by Key Players:
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Scope of the Report:
Key Market Trends:
Increasing Demand from 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 to 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.
– Besides that, 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, the agricultural activities are likely to to surge, thereby increasing the consumption of pesticides.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific dominated the market in 2018 across the globe 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, need and demand for food is increasing day-by-day, 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 accounts 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, boost the consumption of urea formaldehyde in the country.
– China is home to the largest textile production industry in the world, which is almost worth 1/4th 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.
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Urea Formaldehyde Market Covers Following Points in TOC:
- Chapter 1: Urea Formaldehyde Market Definition
- Chapter 2: Research Methodology of Urea Formaldehyde Market
- Chapter 3: Urea Formaldehyde Market Executive Summary
- Chapter 4: Urea Formaldehyde Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
- Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
- Chapter 6: Urea Formaldehyde Market Segmentation by Types, End-User, and Applications Forecast to 2024
- Chapter 7: Urea Formaldehyde Market Segmentation by Geographical Regions
- Chapter 8: Competitive Landscape of Urea Formaldehyde Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
- Chapter 9: Key Players for Urea Formaldehyde Market
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