Formaldehyde Market 2020 | Top Key Players - Dynea Oy, BASF SE, Huntsman Corporation, Balaji Formalin, Bayer AG, Georgia-Pacific Chemicals

While pure formaldehyde occurs naturally, it can also be manmade, particularly for usage in a vast array of industrial applications. When used suitably, formaldehyde-based formulations can present several lucrative, value added benefits to a wide range of industries and end-users.

Formaldehyde is produced via oxidation of methanol. Owing to its remarkable chemical and physical properties, including preservative and high bonding characteristics, formaldehyde is used for various construction and building materials, particularly in the development of composite and engineered wood panels, in the form of resins.

Robust use in particleboard production will drive formaldehyde market from UF resins segment

Formaldehyde-based resins are used extensively in the production of engineered and composite wood products, such as particleboard, MDF (medium density fiberboard) and hardwood plywood, among others. These composite wood materials are often made from wood veneers or fibers glued together using an adhesive.

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Resins and adhesives made from formaldehyde are paving the way for highly versatile and innovative furnishing solutions from composite wood products. Wood products reinforced with formaldehyde resins can be utilized to make several household structures and furnishings, ranging from countertops, cabinetry, shelving, stairways, flooring, support beams & trusses, wall sheathing, etc.

The formaldehyde market is broadly categorized into various derivative segments including PF resins, MF resins, UF resins, 1,4 BDO, Paraformaldehyde, Hexamine, MDI, POM, Pentaerythritol, etc. Of these, the UF resins, also known as urea formaldehyde resins, are utilized as the preferred material across several high-performance applications, including building materials, owing to their superior strength and rigidity.

Key Point Of TOC:

Chapter 8 Company Profiles

8.1 Dynea Oy
8.1.1 Business Overview
8.1.2 Financial Data
8.1.3 Product Landscape
8.1.4 Strategic outlook
8.1.5 SWOT Analysis

8.2 BASF SE
8.2.1 Business Overview
8.2.2 Financial Data
8.2.3 Product Landscape
8.2.4 SWOT Analysis

8.3 Huntsman Corporation
8.3.1 Business Overview
8.3.2 Financial Data
8.3.3 Product Landscape
8.3.4 SWOT Analysis

8.4 Balaji Formalin
8.4.1 Business Overview
8.4.2 Financial Data
8.4.3 Product Landscape
Continue...

These resins are easily customizable to present heat-resistant and chemical properties which makes them ideal for the manufacturing of windows, wall linings and doors. UF resins are a chemical combination of formaldehyde and urea, which is not toxic in nature, which also promotes their usage across the construction industry.

Formaldehyde resins in wood boards and panel products also ensure sustainability in terms of forest resource usage, helping to minimize waste. This is because composite wood panels, for instance particle board, are predominantly made from recovered wood scrap that would otherwise be disposed in landfills or burned. Composite wood panels ensure that nearly 95% of the tree resource is utilized, as compared to the mere 63% that can be used for solid lumber.

Formaldehyde resins, in addition to ensuring more optimized usage of wood sources, also helps develop more robust and durable finished construction materials, as compared to using wood alone.

An Alabama particleboard operation, named Kronospan’s Oxford has recently produced its first panel, making the company the only producer in North America to develop MUF/UF resins, MDF/HDF, laminated HDF and TFL/MF PB, particleboards, laminate flooring and treated paper at a single location.

Efforts and regulations to boost sustainability and environmental health in years ahead

While formaldehydes market reputation has been considerably affected by recent emerging concerns regarding health and welfare of both humans and the environment, reduction in emission has long been the cornerstone for the formaldehyde resin industry for over two decades. Persistent efforts by the industry players in this regard have given rise to products designed to meet performance prerequisites set forth by both consumers as well as regulatory bodies, to minimize the level of emissions from composite wood products.

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Various resin technologies have emerged because of these efforts, including ultra-low emitting formaldehyde resins, capable of cutting back potential emissions to extremely low levels, some of them at or over near the level of the wood itself. These resin technologies are designed to meet or surpass the performance standards set for composite wood products, whilst still maintaining compliance with ATCM (Airborne Toxic Control Measure) standards set by the CARB (California Air Resources Board).

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