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The increasing demand for urea formaldehyde across the automobile industry and the growing usage of UF in electrical appliances, such as switchboards, wall outlets, etc., owing to its high electrical resistance, are primarily driving the urea formaldehyde resins market. Besides this, the impelling requirement for plywood and medium-density fiberboard (MDF) in the construction industry due to rising construction and remodeling activities is further propelling the market for urea formaldehyde resins.

The escalating demand for urea formaldehyde resins in the automotive sector for enhancing tear strength and molding electrical devices is primarily augmenting the urea-formaldehyde resins market. Additionally, the rising usage of urea formaldehyde resins for improving the bonding of rubber with tire cords and offering premium quality as well as economically viable resins is positively influencing the market growth.