Global Amino Resin Market 2017-2021
About Amino Resin
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 types: urea formaldehyde, melamine formaldehyde, and melamine urea formaldehyde.
Technavio’s analysts forecast the global amino resin market to grow at a CAGR of 6.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global amino resin market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of amino resin.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Amino Resin Market 2017-2021
Technavio recognizes the following companies as the key players in the global amino resin market: ARCL Organics, BASF, Hexion, HEXZA, and INEOS
Other Prominent Vendors in the market are: Akolite, Borealis, Chemisol Italia, Chimica Pomponesco, Eternal Materials, EUROTECNICA Contractors and Engineers, Georgia-Pacific Chemicals, Kronospan, Mitsui Chemicals, Qatar Melamine, and Tembec.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Remarkable growth in APAC. Amino resins are mainly used in the home appliances and furniture industries. APAC is expected to account for the highest growth in both the industries during the forecast period. Hectic working schedules and rising disposable income are factors that have driven individuals to invest in technology. This is driving the demand for home appliances in APAC. The rapid urbanization is also a factor that is driving the growth of home appliances in this region.”
According to the report, one of the major drivers for this market is Growing demand in construction industry. Amino resins are extensively used in building construction materials, such as pressed wood products. They are used as adhesives in the production of construction materials. Amino resins are used as insulating foams.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. The continuous volatility in the prices of raw materials used in formaldehyde production is posing a serious threat to manufacturers. The price of methanol, which is a basic raw material used in the production of formaldehyde, is volatile. This makes it difficult for manufacturers to increase their profit margins. The rise in prices of raw materials leads to an increase in the prices of end products. Melamine is formed from methane, which is a byproduct of petroleum refining. The increased price of methane in the past five years has affected the demand for melamine formaldehyde in the global market.
ARCL Organics, BASF, Hexion, HEXZA, INEOS, Akolite, Borealis, Chemisol Italia, Chimica Pomponesco, Eternal Materials, EUROTECNICA Contractors and Engineers, Georgia-Pacific Chemicals, Kronospan, Mitsui Chemicals, Qatar Melamine, and Tembec.
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