Global Formaldehyde Free Resin
Market Report
2024
The Formaldehyde-Free Resin total global market size was 7.26 Billion in 2022 whereas it will rise to 12.11 Billion with the Compound Average Growth Rate of 6.6% (2023 to 2030).
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Formaldehyde-Free Resin total global market size was 7.26 Billion in 2022 whereas it will rise to 12.11 Billion with the Compound Average Growth Rate of 6.6% (2023 to 2030).
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Formaldehyde Free Resin Market Sales Revenue 2022 | $ 7.26 Billion |
Global Formaldehyde Free Resin Market Sales Revenue 2030 | $ 12.11 Billion |
Global Formaldehyde Free Resin Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.6% |
Market Split by Product Type |
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Market Split by Application |
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Market Split by End Users |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Formaldehyde Free Resin Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Formaldehyde-free resins do not contain any formaldehyde as an ingredient or release formaldehyde during their production or use. Formaldehyde is a colorless, strong-smelling gas that is commonly used in the manufacture of various products, including adhesives, resins, and coatings. However, formaldehyde is known to be a potent allergen and a potential carcinogen. Formaldehyde-free resins are an alternative to traditional resins that contain formaldehyde-based components mainly urea-formaldehyde and phenol-formaldehyde resins. Formaldehyde-free resins are typically used in applications where low levels of formaldehyde emissions are desired or where there are strict regulations limiting the use of formaldehyde. These are used in the furniture, adhesive, and construction industry. Formaldehyde-free resins are also used in the textile industry to increase the color retention of various shades of jeans.
The growing construction sector and increasing demand for household furniture drive the growth of the formaldehyde-free resin market. The development and use of formaldehyde-free resins have gained importance due to growing concerns about indoor air quality and the potential health risks associated with formaldehyde exposure. Regulatory agencies across the world have imposed strict limits on formaldehyde emissions from various products, this led to increased demand for formaldehyde-free alternatives in the construction and furniture industry. Formaldehyde-free resin finds extensive use in the construction sector for various applications, including engineered wood products, adhesives, paneling, insulation materials, and achieving green building certifications. The increasing urbanization, population growth, infrastructural development, and renovation are leading to an increase in construction activities globally which in turn drives the growth of the formaldehyde-free resin market.
Furthermore, consumers are becoming more conscious of the products they use, especially when it comes to their homes and living spaces. People are actively seeking healthier and safer alternatives for construction materials, including formaldehyde-free options. This demand has encouraged manufacturers to develop and market formaldehyde-free resin products to cater to consumer preferences.
The high cost of formaldehyde-free resins is expected to hinder the growth of the market. Formaldehyde-free resins are costly compared to traditional resins that contain formaldehyde. The cost of raw materials, manufacturing processes, and compliance with regulations can contribute to the higher price of formaldehyde-free resins. As a result, cost-conscious consumers and businesses may be reluctant to adopt these resins, especially if they perceive them as less economically viable. Moreover, stringent government rules and regulations and fluctuations in the prices of raw materials are some of the major restraining factors for the growth of the formaldehyde-free resins market.
The outbreak of the COVID-19 pandemic affected the global economy. The government across the globe has lockdowns and restrictions imposed during the pandemic led to disruptions in supply chains across various industries, including the resin industry. This resulted in delays in the production and delivery of formaldehyde-free resins, which affected market availability and supply. However, the pandemic has increased public awareness of health and safety issues, such as indoor air quality. During lockdowns, people spent more time indoors thus concern regarding the presence of volatile organic compounds (VOCs) like formaldehyde in building materials and furniture increased. As a result, demand for formaldehyde-free resins as a safer option increased after the reopening of the market.
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These players are adopting various strategies such as new product development and launch, joint ventures, partnerships, collaborations, mergers & acquisitions to expand their footprints across the globe.
Top Companies Market Share in Formaldehyde Free Resin Industry: (In no particular order of Rank)
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In 2022, Asia Pacific accounted for the largest revenue share of around 41.6% of the formaldehyde-free resin market owing to the rapid growth in urbanization and increasing modern infrastructure development across the region. Moreover, Asia Pacific is experiencing significant growth in the construction, furniture, and packaging industry which are key end-use sectors for formaldehyde-free resins. This in turn has driven the demand for formaldehyde-free resins in this region.
North America held a significant share of around 27.7% of the global formaldehyde-free resin market owing to the increasing use of formaldehyde-free resins in several verticals such as paper, plywood, textiles, and coatings. The region has implemented strict regulations regarding formaldehyde emissions, particularly in building materials and consumer products. These regulations, such as the U.S. Environmental Protection Agency's Formaldehyde Emission Standards for composite wood products, have driven the demand for formaldehyde-free resins as an alternative to traditional formaldehyde-based resins.
The current report Scope analyzes Formaldehyde Free Resin Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Formaldehyde Free Resin Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Formaldehyde Free Resin Industry growth. Formaldehyde Free Resin market has been segmented with the help of its Product Type, Application End Users, and others. Formaldehyde Free Resin market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
"As per our analysis, wood adhesives formaldehyde-free resin is the leading segment across the globe!"
Based on product type, wood adhesives accounted for the largest market share in terms of revenue. Wood adhesives are widely utilized in the furniture business owing to their enhanced benefits such as excellent wood adhesion, rigidity, flexibility balance, and good water and fatigue resistance. Moreover, the development of soy-based wood adhesives improves the strength and water resistance of wood composite panels. With this development of innovative wood adhesives, the market is expected to grow during the forecast period.
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The residential insulation segment is anticipated to grow at the fastest CAGR during the forecast period. This growth is attributed to the increasing healthy and safety concerns and increasing awareness regarding indoor air quality as formaldehyde-free resins help reduce or eliminate formaldehyde emissions, resulting in improved indoor air quality and a healthier living environment.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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In 2022, the furniture segment accounted for the major share of the formaldehyde-free resin market. There is a growing awareness among consumers about the potential health risks associated with formaldehyde emissions from furniture. As consumers become more conscious of indoor air quality and seek safer products, the demand for formaldehyde-free furniture increases.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Formaldehyde Free Resin Market is witnessing significant growth in the near future.
In 2023, the Wood Adhesive segment accounted for noticeable share of global Formaldehyde Free Resin Market and is projected to experience significant growth in the near future.
The Residential Insulation segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies DSM Inc. , The Dow Chemical Company and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
The growing demand for environmentally friendly and safe materials, along with increased awareness of formaldehyde's harmful effects, is driving the adoption of formaldehyde-free resins in the furnishings and wood industry.
Disclaimer:
Product Type | Wood Adhesive, Foil Bonding Adhesive, Fiberglass Adhesive, Mineral Fiber Adhesive |
Application | Residential Insulation, Commercial and Industrial (C&I) Insulation, Others |
End Users | Automobile, Chemicals, Textile, Furniture, Construction, Adhesive |
List of Competitors | DSM Inc., NineSigma Inc., The Dow Chemical Company, Georgia-Pacific Chemicals LLC, Fraunhofer-Gesellschaft, EGGER GROUP, ARCL Organics Ltd, Hexon, Others |
This chapter will help you gain GLOBAL Market Analysis of Formaldehyde Free Resin. Further deep in this chapter, you will be able to review Global Formaldehyde Free Resin Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End Users Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Formaldehyde Free Resin market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Wood Adhesive have a significant impact on Formaldehyde Free Resin market? |
What are the key factors affecting the Wood Adhesive and Foil Bonding Adhesive of Formaldehyde Free Resin Market? |
What is the CAGR/Growth Rate of Residential Insulation during the forecast period? |
By type, which segment accounted for largest share of the global Formaldehyde Free Resin Market? |
Which region is expected to dominate the global Formaldehyde Free Resin Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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