Global Amino Resin Market 2017-2021

Overview of the global amino resin market

Research analysis on the global amino resin market identifies that the increased use of plastics in the automobile industry will be one of the major factors that will have a positive impact on the growth of the market. A large number of manufacturers use amino resin as raw materials in the manufacturing process of molded plastics. The resultant plastic helps in the production of automobile ancillaries such as wheel covers, dashboards, and door handles. The popularity for molded plastics is increasing over conventional metals due to the growing demand for lightweight vehicles. This is due to the presence of lightweight and high tensile strength of amino resins. Amino resins are used in these automotive plastics to increase their shelf life and enhance their toughness. Technavio's market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.

The furniture sector is experiencing growth in APAC due to the rising demand in the housing sector and growing population. The GDP is increasing in countries such as Malaysia, India, and China due to the rising number of economic reforms, which in turn, boosts the disposable income of individuals. As a result, the overall demand for wood panels in the region will increase. Consequently, the consumption of amino resins in the APAC region will also increase.

Competitive landscape and key vendors

The amino resin market is highly competitive and moderately fragmented due to the presence of many global and local vendors. The vendors of the amino resin have huge production facilities and a vast geographical presence across the world. The increasing focus on price, quality, and distribution network will strengthen the competitive environment of the market.

Key vendors in this market are -

• ARCL Organics
• BASF
• Hexion
• HEXZA
• INEOS

Other prominent vendors in the market include Akolite, Borealis, Chemisol Italia, Chimica Pomponesco, Eternal Materials, EUROTECNICA Contractors and Engineers, Georgia-Pacific Chemicals, Kronospan, Mitsui Chemicals, Qatar Melamine, and Tembec.

Segmentation by type and analysis of the amino resin market

• Urea formaldehyde
• Melamine formaldehyde
• Melamine urea formaldehyde

The amino resin market is witnessing growth in the urea formaldehyde segment due to the rising demand for particle boards and plywood. The consumption of urea formaldehyde glue is increasing in end-user industries such as furniture and home appliances sectors because it is extensively preferred as an adhesive and resin. The demand for urea formaldehyde will continue to grow for the next four years due to the expansion of laminates and coatings. Consequently, the urea-formaldehyde resin market will also grow.

Segmentation by application and analysis of the amino resin market

• Particle boards
• Plywood
• MDF
• Laminates
• Coatings

Particle boards are fiberboard composites. Adhesives such as urea formaldehyde and melamine resin formaldehyde are increasingly used to glue these particle boards. The application of urea formaldehyde resin is high in fiberboard products, such as particle boards due to its easy availability, low cost, and excellent thermal properties. The application of amino resins in particle boards and other fiberboard composites will continue to gain popularity with the growing demand for furniture on a global level.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global amino resin market?
• What are the key market trends impacting the growth of the global amino resin market?
• What are the challenges to market growth?
• Who are the key vendors in the global amino resin market?
• What are the market opportunities and threats faced by the vendors in the global amino resin market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global amino resin market?

Technavio also offers customization on reports based on specific client requirement.

The chemical industry comprises of diverse sectors including bio-chemicals and bio-materials, metals and minerals, specialty chemicals, and chemical engineering equipment. This upcoming report on the global amino resin market is an integral part of the chemicals and materials portfolio, under the fast-growing paints, coatings, and pigments sector. According to the market research analysts at Technavio, one of the trends that is likely to impact this market's growth is the augmented demand for amino resins due to the rapidly growing automotive and paint industries.

This upcoming report on the global amino resin market offers actionable insights into the competitive landscape of the market by covering some of the vendors operating in this market space, such as Arclin Inc., BASF, MRI, and Hexion. Besides a thorough analysis of the various factor influencing market growth, this report also offers strategic insights into the market segmentation and market size. To accurately predict the growth prospects of this market, our analysts closely follow the growth trajectory of similar markets like the global corrosion inhibitors market which is expected to grow at a CAGR of around 5% by 2021.

Additionally, to help clients get a holistic outlook of the market, this report includes an analysis of the market across different geographical regions including the Americas, APAC, and Europe, and ROW. This report also segments the market based on the applications of amino resin in coatings, plywood, and laminates. Although the market is expected to witness steady growth in the coming years, implementation of stringent government regulations related to the use of amino resins may slow down the growth over the next four years.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.