Amino Resins Market Analysis and Size
Amino resins are also called melamine resins. Amino resins at higher in demand because of its superior chemical and physical attributes. The rising demand of urea-formaldehyde because of its excellent high resistivity and strength property, in automobile as well as construction industries, is expected to accelerate the growth rate of the amino resin market. Furthermore, growing demand for amino resins in application such as laminates, adhesives, wood panels, coatings, and molding compounds is projected to increase the demand for amino resins during the forecast period of 2022-2029.
Data Bridge Market Research analyses that the amino resins market is expected to undergo a CAGR of 6.46% during the forecast period. This indicates that the market value, which was USD 10 billion in 2021, would rocket up to USD 16.50 billiob by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Market Definition
Amino resins are thermosetting polymers which are formed by the condensation of formaldehyde with either melamine or urea. Melamine is a final product obtained from condensation of three urea molecules . It is also formed from cyanimide at high temperature and high pressure. Amino resins are generally used as surface coatings, adhesives and in the manufacture of tableware.
Amino Resins Market Dynamics
Drivers
· Rising demand in automotive sector
Growing use of formaldehyde resin in the automotive sector are to drive the growth rate of the amino resin market. Melamine formaldehyde (MF) resins are fast-curing, can withstand excellent chemical resistance, and have high temperatures, which is highly used in the automotive industry. These resins are used for coating purposes on the automobile surface as well as decorative laminates for automobile interiors.
· Growth of wood industry
Amino resins are generally used as adhesives in wood panels such as MDF, particleboards and plywood. The wood industry consists of those business which manufacture, create and sell wood products such as wood-plastic composites, plywood and plastic lumber. Moreover, the rising demand for urea formaldehyde (UF) resins used in the manufacture of wood-based panels is expected to increase the amino resins market growth.
Furthermore, the rising demand for amino resin due to its excellent property, increasing usages in construction as well as automobile industries and increasing applications from emerging economies are some of the major factors which are expected to accelerate market during forecast period
Opportunities
· Increase focus towards expansion
The major companies are mostly shifting their focus towards introducing new and innovative products and growing their production capacities into the amino resins market to attain a competitive advantage. The products are developed in such a way that would help with the compliance of stringent formaldehyde emission regulations.
Furthermore, the rising consumption of roofing mat in several economies and growing demand of MF resin in the automotive coating sector will further create several opportunities and will lead to the growth of the amino resin market in upcoming years.
Restraints/Challenges
· Stringent regulations regarding use of formaldehyde
The stringent regulations imposed by the government regarding the use of formaldehyde in the production of resins because it affects environmental and human health. These issue are the major restraint factor which hampered the growth of the amino resin market.
· Fluctuation in cost
Market players expect to pose challenges because of high production costs due to the fluctuating Methanol prices and volatile formaldehyde prices are expected to hinder the amino resins market.
This amino resins market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the amino resins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Amino Resins Market
The outbreak of COVID-19 pandemic severely hit resulting in slow construction markets which were particularly hard hit and affecting the consumption and production of wood panels and furniture which decline the growth of the amino resins market. The covid-19 pandemic has disrupted the supply chain of raw materials and people preferred health over their jobs so it was also difficult for workers and staff to work with social distancing norms.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
· In November 2021, Singapore site, Arkoma had focused on enhancing the global capacity of the bio-based polyamide 11 by at least 50%. Also, Changshu platform which is situated in China. Will also be producing a polyamide 11 powders unit. This unit construction is anticipated to start by the first phase of 2023. Investments by the business will also ease the increasing demand among the end-users for innovative bio-circular materials across Asia.
Global Amino Resins Market Scope
The amino resins market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
· Butylated Urea Resins
· Butylated Melamine Resins
· Methylated Melamine Resins
· Waterborne Melamine Resins
· Butylated Benzoguanamine Resins
· Others
Application
· Particle Board
· Plywood
· Medium Density Fiberboard (MDF)
· Roofing Mats
· Molding Compound
· Adhesives and Coatings
· Laminates
End user
· Architectural
· Marine
· Heavy Duty Industries
· Automotive
· Electric Appliances
· Machinery
· Metal
· Wood and Floor
· Construction Material
· Cabinet and Furniture Making
· Kitchen Utilities
· Agriculture
· Foam Insulation
· Others
Amino Resins Market Regional Analysis/Insights
The amino resins market is analysed and market size insights and trends are provided by country, type, application and end user as referenced above.
The countries covered in the amino resins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the amino resins market due to the rising construction industry along with increasing usages of resin and increasing production capacity in this region
Asia-Pacific is fastest growing region during the forecast period of 2022-2029 due to the increasing growth of automotive industry in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Amino Resins Market Share Analysis
The amino resins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to amino resins market.
Some of the major players operating in the amino resins market are:
· BASF SE (Germany)
· Cardolite Corporation (U.S.)
· Kukdo Chemical Co., Ltd., (South Korea)
· Evonik Industries AG (Germany)
· Aditya Birla Group Chemicals (India)
· Mitsubishi Chemical Corporation (Japan)
· Arkema (France), Hexion (U.S.)
· Huntsman International LLC (U.S.)
· DuPont (U.S.), DAIKIN (Japan)
· Bostik (France)
· H.B. Fuller Company (U.S.)
· Sika AG (Switzerland)
· Freudenberg SE (Germany)
· DOW (U.S.)
· Solvay (Belgium)
· Momentive (U.S.)
· Georgia-Pacific (U.S.)
· Sealants International Ltd (U.K.)
Research Methodology: Global Amino Resins Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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