Future Outlook: Urea Formaldehyde Market Envisioned at US$ 41.5 Billion by 2034
The urea formaldehyde market value is expected to rise from US$ 33,116.80 million in 2024 to US$ 41,572.36 million by 2034. The market is expected to expand at a CAGR of 1.80% over the next decade.
The market prospects for urea formaldehyde manufacturers remain high in end-use industries like furniture and construction. These industries are steadily rising, driven by increasing infrastructure development, surging housing demand, and shifting consumer preferences for modern furniture. In the agriculture sector, the demand for specialty fertilizers is increasing as they consistently supply crops with nitrogen. Thus, ensuring high crop yield, especially for grain crops.
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