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The Urea Resin Pricing in the US market kept going down during Q4 because of the steep drop in the price of raw materials during the fourth quarter. The Urea Resin price continued to drop because of poor trade fundamentals and lackluster demand. In November2022, feedstock natural gas prices decreased by around 15%, and this pattern persisted into December, according to the figures. Moreover, the market is witnessed a steep drop in consumption from the downstream preservative industry. Weak benchmark futures and low purchasing activity prevailed in the market sentiments. The Urea-Formaldehyde Resin market continued to transact at a slower pace, and low market fundamentals further supported the downtrend of the market.

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