Amino Resin Market, Size, Share, Outlook and Growth Opportunities 2019-2026
Global Amino Resin Market is segmented By Type (Melamine urea formaldehyde, Melamine formaldehyde, Urea formaldehyde), By Application (Particle boards, Plywood, MDF, Laminates, Coatings), and By Region (North America, Latin America, Europe, Asia Pacific,
(EMAILWIRE.COM, March 26, 2020 ) Market Overview
The Global Amino resin Market is expected to grow at a high CAGR during the forecasting period (2019-2026). The rise in sales for automotive all around the world where amino resins are used in coating plastic and wooden parts to strengthen and therefore are anticipated to drive the amino resin market in the forecast period.
Amino resins are important materials that come under thermoset polymers. They are used in paints and coatings, molded articles, adhesives, and sealants. Amino resins are produced by reacting formaldehyde with amino compounds such as melamine, benzoguanamine, or urea. They have excellent tensile strength, hardness, and impact resistance. Amino resins are of three Applications: urea-formaldehyde, melamine-formaldehyde, and melamine urea-formaldehyde. Amino resins are widely used as curing agents in specialized coatings on account of their ability to increase coating hardness and improve solvent resistance.
The report covers all the major trends and drivers playing a vital role in the growth of the global Amino Resin market. The global Amino Resin market has been segmented based on Type, Application, and Region.
Download free sample: https://www.datamintelligence.com/download-sample/amino-resin-market
Market Dynamics
The global Amino Resin Market is primarily driven by the high demand for wooden furniture owing to the increasing construction of houses and offices, especially in developing nations such India and China. The rising disposable income coupled with rapid urbanization in the APAC will be boosting the market for amino resin in the forecast period. According to ministry of commerce, Government of India, the wooden furniture exports also have seen a boost of nearly $40 million (Rs 292.5 crore) from $ 449.66 million in the year 2016-17 to $ 533.10 million in 2017-18. The press release issued by EPCH indicates that the exports of wooden handicrafts have registered a growth of 8.97% during the year 2017-18 with Rs. 4267.37 crore, however, during the first six months of 2018-19 [April Sept.] exports of wooden handicrafts have registered a growth of 33.47% and stands at Rs. 2619 crore.
Moreover, growing coating industry owing to advancement and development in the manufacturing and allied activities expected to boost the global amino resins market for coating and paint industry for products such as bicycles, scooters, automobiles, mopeds, electric fans, farm implements, sewing machines, steel furniture, refrigerators, kitchen appliances, toys, and so on. It is also expected to increase the demand for the amino resin.
However, the strict environmental regulations in various countries will be hampered the growth of Amino Resin.
Market Segmentation
By Application, the global Amino Resin Market is segmented into Melamine urea-formaldehyde, Melamine formaldehyde, and Urea-formaldehyde. Urea-formaldehyde has the dominant position in the Amino Resin market due to the rising demand for particle boards and plywood. The consumption of urea-formaldehyde glue is increasing in industries such as furniture and home appliances because it is extensively preferred as an adhesive and resin. And also, adhesives based on Urea-formaldehyde resins are inexpensive, cure quickly, and produce boards with smooth finishes that are easy to machine, paint, and laminate and hence Urea-formaldehyde is expected to retain its dominance in the forecasted period. It is expected that Urea-formaldehyde will grow at a CAGR of ~XX% during the forecast period.
By application, the global Amino Resin Market is segmented into Particle boards, Plywood, MDF, Laminates, and Coatings. Particle Boards have higher dominance in the application and Coating application of Amino Resin as they are gaining popularity as a building material due to its varieties of application and cheap rate. However, due to the rising wood furniture industry plywood segment will be growing with higher CAGR for the forecast period.
Regional Analysis
By geography, the global Amino Resin Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Amino Resin Market due to economy rise and rising activity in residential and commercial construction, creating demand for the furniture in the developing nations like China and India has high demands for Amino Resin and has made APAC hold most of the market share. China holds the major share in APAC amino resin market owing to rapid urbanization and large population. Apart from domestic sales, Chinas furniture exports also show sustained growth. According to statistics from the General Administration of Customs, exports of Chinas furniture and furniture parts amounted to US$53.69 billion in 2018, up 7.6% year-on-year.
However, Europe is after APAC in terms of the market share of Amino Resin Market due to increase in demand for applications in wood laminates and wood adhesives, and also due to increase in the urban population, will create great demand for Amino Resin. North America is expected to be the third-largest market for amino resins. The amino resins market is expected to witness rapid growth owing to the increase in the demand for the roofing mat.
Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Amino Resin Market is a fragmented market with the presence of various global and regional players in the market. The major players include BASF, Chemique Adhesives & Sealants Ltd., Chimica Pomponesco S.p.A., and Arclin Inc. Other key players in the market include Hexza Corporation, Ineos, Georgia-Pacific LLC, Ercros S.A., Cytec Industries Inc., Chemiplastica S.p.A. and Tembec Inc.
View full report: https://www.datamintelligence.com/research-report/amino-resin-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/amino-resin-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
The Global Amino resin Market is expected to grow at a high CAGR during the forecasting period (2019-2026). The rise in sales for automotive all around the world where amino resins are used in coating plastic and wooden parts to strengthen and therefore are anticipated to drive the amino resin market in the forecast period.
Amino resins are important materials that come under thermoset polymers. They are used in paints and coatings, molded articles, adhesives, and sealants. Amino resins are produced by reacting formaldehyde with amino compounds such as melamine, benzoguanamine, or urea. They have excellent tensile strength, hardness, and impact resistance. Amino resins are of three Applications: urea-formaldehyde, melamine-formaldehyde, and melamine urea-formaldehyde. Amino resins are widely used as curing agents in specialized coatings on account of their ability to increase coating hardness and improve solvent resistance.
The report covers all the major trends and drivers playing a vital role in the growth of the global Amino Resin market. The global Amino Resin market has been segmented based on Type, Application, and Region.
Download free sample: https://www.datamintelligence.com/download-sample/amino-resin-market
Market Dynamics
The global Amino Resin Market is primarily driven by the high demand for wooden furniture owing to the increasing construction of houses and offices, especially in developing nations such India and China. The rising disposable income coupled with rapid urbanization in the APAC will be boosting the market for amino resin in the forecast period. According to ministry of commerce, Government of India, the wooden furniture exports also have seen a boost of nearly $40 million (Rs 292.5 crore) from $ 449.66 million in the year 2016-17 to $ 533.10 million in 2017-18. The press release issued by EPCH indicates that the exports of wooden handicrafts have registered a growth of 8.97% during the year 2017-18 with Rs. 4267.37 crore, however, during the first six months of 2018-19 [April Sept.] exports of wooden handicrafts have registered a growth of 33.47% and stands at Rs. 2619 crore.
Moreover, growing coating industry owing to advancement and development in the manufacturing and allied activities expected to boost the global amino resins market for coating and paint industry for products such as bicycles, scooters, automobiles, mopeds, electric fans, farm implements, sewing machines, steel furniture, refrigerators, kitchen appliances, toys, and so on. It is also expected to increase the demand for the amino resin.
However, the strict environmental regulations in various countries will be hampered the growth of Amino Resin.
Market Segmentation
By Application, the global Amino Resin Market is segmented into Melamine urea-formaldehyde, Melamine formaldehyde, and Urea-formaldehyde. Urea-formaldehyde has the dominant position in the Amino Resin market due to the rising demand for particle boards and plywood. The consumption of urea-formaldehyde glue is increasing in industries such as furniture and home appliances because it is extensively preferred as an adhesive and resin. And also, adhesives based on Urea-formaldehyde resins are inexpensive, cure quickly, and produce boards with smooth finishes that are easy to machine, paint, and laminate and hence Urea-formaldehyde is expected to retain its dominance in the forecasted period. It is expected that Urea-formaldehyde will grow at a CAGR of ~XX% during the forecast period.
By application, the global Amino Resin Market is segmented into Particle boards, Plywood, MDF, Laminates, and Coatings. Particle Boards have higher dominance in the application and Coating application of Amino Resin as they are gaining popularity as a building material due to its varieties of application and cheap rate. However, due to the rising wood furniture industry plywood segment will be growing with higher CAGR for the forecast period.
Regional Analysis
By geography, the global Amino Resin Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Amino Resin Market due to economy rise and rising activity in residential and commercial construction, creating demand for the furniture in the developing nations like China and India has high demands for Amino Resin and has made APAC hold most of the market share. China holds the major share in APAC amino resin market owing to rapid urbanization and large population. Apart from domestic sales, Chinas furniture exports also show sustained growth. According to statistics from the General Administration of Customs, exports of Chinas furniture and furniture parts amounted to US$53.69 billion in 2018, up 7.6% year-on-year.
However, Europe is after APAC in terms of the market share of Amino Resin Market due to increase in demand for applications in wood laminates and wood adhesives, and also due to increase in the urban population, will create great demand for Amino Resin. North America is expected to be the third-largest market for amino resins. The amino resins market is expected to witness rapid growth owing to the increase in the demand for the roofing mat.
Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Amino Resin Market is a fragmented market with the presence of various global and regional players in the market. The major players include BASF, Chemique Adhesives & Sealants Ltd., Chimica Pomponesco S.p.A., and Arclin Inc. Other key players in the market include Hexza Corporation, Ineos, Georgia-Pacific LLC, Ercros S.A., Cytec Industries Inc., Chemiplastica S.p.A. and Tembec Inc.
View full report: https://www.datamintelligence.com/research-report/amino-resin-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/amino-resin-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results