The global formaldehyde-free resin market was worth US$ 8.35 Billion in the year 2022 and is expected to reach US$ 16.26 Billion by the year 2032 at a CAGR of 6.9% between 2022 and 2032.

Formaldehyde-free resin is looked upon as a good replacement for traditional urea-formaldehyde and phenol-formaldehyde resins used for insulations in adhesive, furniture, and building & construction verticals. They find their place in the textile industry as well as they facilitate the retention of colors of jeans.

The characteristics of the formaldehyde-free resin include robust resistance to moisture with good adhesion properties. As such, formaldehyde-free resins are used to bind fiberglass filaments in fabricating industrial nonwoven inclusive of fiberglass webs used in the insulation of roofing, HVAC filters, and floorings.

Wood adhesives are used on an extensive note in the furniture vertical and offer advantages like appropriate adhesion to wood, the enhanced balance between flexibility and rigidity, and resistance to fatigue and water. There are fiberglass substrates used in automotive, infrastructure, and chemicals vertical; which are bound with adhesives providing resistance against corrosion with electrical insulation.

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Key Takeaways from Formaldehyde-free Resin Market

• North America holds a significant market share due to the rising utilization of formaldehyde-free resins in several verticals like paper, plywood, textiles, coatings, and likewise.
• Europe is expected to witness a substantiation in the formaldehyde-free resin market going forward due to the deployment of these resins in automotive, construction, and other verticals.
• The Asia-Pacific is expected to grow at a rapid pace in the formaldehyde-free resin market due to the modernization of infrastructure and rising urbanization.

Key Companies Profiled

• DSM Inc.
• Georgia Pacific Chemicals LLC
• The Dow Chemical Company
• Fraunhofer-Gesellschaft
• EGGER Group
• NineSigma Inc.
• BASF SE
• Allnex Group
• Lanxess AG
• Hexion

What does the Report say?

• The research study is based on application (isocyanates and oxygenates, EDC/PVC, inorganic chemicals, chloromethanes, solvents and electrolysis, pharmaceuticals, and electronics), and by end-use (paper and pulp, water treatment, chemicals, plastics, pesticide, and durable pipes).
• With formaldehyde-free resin being deployed at a larger scale in developing long-lasting structures and high-rise skyscrapers (in the form of a concrete plasticizer), the global formaldehyde-free resin market is slated to witness grandeur in the upcoming period.