Product Code: ETC093104 | Publication Date: Jun 2021 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The urea formaldehyde market in Thailand is expected to reach USD 8 million, growing at a CAGR of 5.2%. The main driver for the growth of the market is increasing demand from various end-user industries such as automotive and construction. Additionally, rising investments in infrastructure development have further boosted the demand for urea formaldehyde resins across Thailand.
The growth of the Thailand urea formaldehyde market is driven by factors related to the country`s construction, furniture, and woodworking industries. One of the primary drivers is the demand for adhesive resins used in particleboard, MDF (medium-density fiberboard), and plywood manufacturing. Urea formaldehyde resins are widely used for their cost-effectiveness and strong bonding properties. As Thailandconstruction and furniture sectors expand, driven by urbanization and domestic demand, the demand for these engineered wood products has risen, subsequently boosting the demand for urea formaldehyde resins. The market`s growth is also influenced by the adoption of environmentally friendly and low-emission adhesive formulations to meet regulatory standards and consumer preferences.
The Thailand urea formaldehyde market grapples with challenges related to environmental sustainability and health concerns. Urea formaldehyde resins are known for emitting formaldehyde gases, which can have adverse effects on indoor air quality and human health. Developing low-emission or formaldehyde-free alternatives without compromising product performance poses a technical challenge. Addressing these concerns is critical to meet regulatory requirements and consumer preferences.
The Thailand urea formaldehyde market experienced fluctuations due to the Covid-19 pandemic. The construction and furniture industries, key consumers of urea formaldehyde resins, faced disruptions as projects were delayed and consumer spending declined. Supply chain interruptions also impacted raw material availability. The market`s recovery was linked to the gradual revival of these industries as restrictions eased and construction activities resumed, although ongoing uncertainties required companies to remain adaptable to changing market dynamics.
Notable participants in the Thailand urea formaldehyde market consist of UreaForm Co., ThaiResinTech, and FormaChem Industries. These companies focus on the production of urea formaldehyde resins used in wood-based panels, adhesives, and coatings. Their commitment to product performance and environmental considerations contributes to their importance in the market.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Urea Formaldehyde Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Urea Formaldehyde Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Urea Formaldehyde Market - Industry Life Cycle |
3.4 Thailand Urea Formaldehyde Market - Porter's Five Forces |
3.5 Thailand Urea Formaldehyde Market Revenues & Volume Share, By End-users, 2021 & 2031F |
3.6 Thailand Urea Formaldehyde Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Thailand Urea Formaldehyde Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Urea Formaldehyde Market Trends |
6 Thailand Urea Formaldehyde Market, By Types |
6.1 Thailand Urea Formaldehyde Market, By End-users |
6.1.1 Overview and Analysis |
6.1.2 Thailand Urea Formaldehyde Market Revenues & Volume, By End-users, 2021-2031F |
6.1.3 Thailand Urea Formaldehyde Market Revenues & Volume, By Automobiles, 2021-2031F |
6.1.4 Thailand Urea Formaldehyde Market Revenues & Volume, By Electrical Appliances, 2021-2031F |
6.1.5 Thailand Urea Formaldehyde Market Revenues & Volume, By Home Appliances (Furniture), 2021-2031F |
6.1.6 Thailand Urea Formaldehyde Market Revenues & Volume, By Agriculture, 2021-2031F |
6.1.7 Thailand Urea Formaldehyde Market Revenues & Volume, By Others, 2021-2031F |
6.2 Thailand Urea Formaldehyde Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Thailand Urea Formaldehyde Market Revenues & Volume, By Adhesives, 2021-2031F |
6.2.3 Thailand Urea Formaldehyde Market Revenues & Volume, By Particle board, 2021-2031F |
6.2.4 Thailand Urea Formaldehyde Market Revenues & Volume, By Plywood, 2021-2031F |
6.2.5 Thailand Urea Formaldehyde Market Revenues & Volume, By Roofing mats, 2021-2031F |
6.2.6 Thailand Urea Formaldehyde Market Revenues & Volume, By Others, 2021-2031F |
7 Thailand Urea Formaldehyde Market Import-Export Trade Statistics |
7.1 Thailand Urea Formaldehyde Market Export to Major Countries |
7.2 Thailand Urea Formaldehyde Market Imports from Major Countries |
8 Thailand Urea Formaldehyde Market Key Performance Indicators |
9 Thailand Urea Formaldehyde Market - Opportunity Assessment |
9.1 Thailand Urea Formaldehyde Market Opportunity Assessment, By End-users, 2021 & 2031F |
9.2 Thailand Urea Formaldehyde Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 Thailand Urea Formaldehyde Market - Competitive Landscape |
10.1 Thailand Urea Formaldehyde Market Revenue Share, By Companies, 2024 |
10.2 Thailand Urea Formaldehyde Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |