Amino Resin Market Size To Boost USD 11.1 Billion By 2026 | CAGR 6.9% - Industryarc

2022-12-08 11:02:07

(MENAFN- EIN Presswire)

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Increasing Applications of Amino Resin in Automotive Sector and Growth of the Wood Industry is predicted to accelerate the growth of the Amino Resin Market.

HYDERABAD, TELANGANA, INDIA, December 8, 2022 /einpresswire.com / -- IndustryARC, in its latest report, predicts that amino resin market is forecast to reach $11.1 billion by 2026, after growing at a CAGR of 6.9% during 2021-2026. Amino resins (aminoplasts) are thermosetting polymers formed by the condensation of formaldehyde with either urea or melamine. Growing demand for urea-formaldehyde due to its excellent high strength and resistivity property, in construction as well as automobile industries, is likely to accelerate the growth of the amino resin market. Increasing demand for amino resins in application such as wood panels, coatings, molding compounds, laminates, and adhesives, is estimated to raise the demand for amino resins in upcoming years. Furthermore, growing demand of Melamine Formaldehyde (MF) resin in automotive coating industry and rising consumption of roofing mat in various economies is anticipated to create new opportunities for the growth of the global amino resin industry in the forecast era. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Amino Resin Market highlights the following areas -

1. Increasing use of urea-formaldehyde in agricultural field applications as a source of nitrogen fertilizer will further drive the market for amino resins over the forecast period.

2. Furthermore, rising automotive sales in developed and developing regions coupled with increasing demand for fuel efficient vehicles is predicted to accelerate the growth of the amino resin market.

3. However, volatile formaldehyde price and stringent government regulations regarding the formaldehyde emission is a major restraint, hampering the growth of the market.

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Segmental Analysis:

1. Urea formaldehyde held the largest share in the amino resins market in 2020. Urea formaldehyde is a very common chemical that is widely used due to its alluring chemical properties. One of the most important formaldehyde resin adhesives is urea-formaldehyde (UF) resin, which is a polymeric condensation product of formaldehyde with urea and is widely used in the manufacture of wood-based composite panels such as particleboard, plywood, and fiberboard.

2. The Asia Pacific region held the largest share with 37.1% in amino resin market in 2020. Asia-Pacific dominates global demand for Amino Resins due to higher consumption of amino resins in China, followed by Europe and North America as the second and third largest markets, respectively.

3. Adhesives held the largest share in the amino resins market in 2020. The wood paneling industry uses amino resin extensively in adhesives for products such as plywood, chipboard, particleboard, medium-density fiberboard, sawdust board, and many others. Interior design concepts for homes, offices, and apartments are constantly evolving in the furniture industry.

4. Building and construction sector held the largest share in the amino resin market in 2020 and is projected to grow at a CAGR of 6.5% during the forecast period 2021-2026. The demand for amino resin is expected to rise due to increased institutional, domestic, and commercial activity globally.

Competitive Landscape:

The top 5 players in the Amino Resin Industry are -

1. BASF,
2. Chemique Adhesives & Sealants Ltd.,
3. Chimica Pomponesco S.p.A.,
4. Arclin Inc.,
5. Hexza Corporation,

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B. Resin Capsules Market

Venkat Reddy
IndustryARC
+1 614-588-8538

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