Amino Resin Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2087 | Last Updated On: Dec 20 2022 | Available Formats

> Global Amino Resin Market Expected to reach at a high CAGR of 7.4% by 2029: DataM Intelligence

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, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Amino Resin Market Overview

The Global "Amino Resin Market" is estimated to reach a high CAGR of 4.5% during the forecast period (2022-2029).

Amino Resin Market Scope

Metrics

Details

Market CAGR

4.5%

Segments Covered

By Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To get A Free Sample Click Here

 

Amino Resins are thermosetting resins that have excellent tensile strength and hardness. They are used to harden paints and coatings and are also used in adhesives and sealants. It is formed by reacting formaldehyde with various amino compounds like melamine, benzo guanamine, or urea and it is of three types - urea-formaldehyde, melamine-formaldehyde, and melamine urea-formaldehyde.

Amino Resin Market Dynamics and Trends

The major factors driving the Global Amino Resin market are the rising demand from the infrastructure and construction sectors and automobile sector, home appliances, rising population, and urbanization are also driving the market.

Increasing residential and commercial construction activities are driving the market growth of Amino Resins

There is rising demand for Amino Resin from various sectors like infrastructure and industry in different parts of the world. Many construction projects are going on in Asia-pacific, even the number of households is increasing in this region which increases the construction activities in this region and creates demand for furniture which is driving the market growth of Amino Resin. According to reports in 2019, China was the biggest exporter of furniture and furniture parts in the world with total exports of USD 63.7 billion and Vietnam was the second-largest exporter after China in the region with total exports of USD 8 billion.

Many government schemes of the Indian government are creating opportunities for construction which is driving market growth like Housing for All initiative which aims to construct 20 million households for the urban population by 2022. Increasing migration in Europe and North America is also an important factor in the rising construction of houses. According to the report in 2020, total migrants in Europe and North America were close to 87 million and 58 million respectively. According to the report, the number of households in India, China, and Japan was 295 million, 499 million, and 48 million in 2020. Many state governments of India have approved the Affordable Rental Housing Scheme (ARHC) in 2021 and many public and private companies will be given construction projects under this scheme.

Increasing the production of roofing mats in the United States is also driving the market for Amino Resins.

The demand from the automobile industry and urbanization are driving the market growth of Amino Resin market opportunities

The demand from the automobile industry is driving the market growth of Amino Resin. The Automobile paints and coatings protect the interior and exterior of the vehicle from sunlight, corrosion, acid rain, etc. Amino resins are used as curing agents for coatings and paints as it is used to make the coatings hard.

Automobile production declined in the world during the covid-19 pandemic. Still, due to environmental regulations and restrictions, the production of electric vehicles will generate huge demand for paints and coatings and in turn for Amino Resin in the future. According to the report by The International Organization of Motor Vehicle Manufacturers, global automobile production declined by around 16% during covid-19 in 2020 and even car sales dropped in 2020 by 13.8% in comparison to 2019. The demand from the coating and paint industry is increasing for products such as scooters, mopeds, electric fans, farm implements, sewing machines, steel furniture, refrigerators, kitchen appliances, and toys.

Strict environmental regulations and restrictions in various countries of the world are hampering the market growth of Specialty Pigments

COVID-19 Impact on Amino Resin Market Growth

The COVID-19 pandemic has affected many industries due to the disruption in the supply chain, as there were full or partial lockdowns in many countries of the world, and restrictions across borders and closure of airports hampered world trade. Many construction projects of residential and commercial houses were also delayed due to the lockdown restrictions in different parts of the world which declined the demand for the furniture industry. The construction sector is the second largest sector after the agricultural sector in India in terms of employment and it was affected severely as many workers returned to their homes during covid-19 resulting in a massive loss for the industry.

The automobile sector was also severely affected due to covid-19 as there was disruption of the supply chain and people preferred health over their jobs it was not possible for companies to operate with proper covid norms and it was also difficult for staff and workers to work with social distancing norms. Automobile paints and coatings are used to protect the interior and exterior portion of the vehicle from sunlight, corrosion, acid rain, etc. amino resins are used as curing agents for coatings and paints as it is used to make the coatings hard.

Automobile production declined in the world during the covid-19 pandemic. Still, due to environmental regulations and restrictions, the production of electric vehicles will generate huge demand for paints and coatings and in turn for Amino Resin in the future. According to the report by The International Organization of Motor Vehicle Manufacturers, global automobile production declined by around 16% during covid-19 in 2020 and even car sales dropped in 2020 by 13.8% in comparison to 2019. The demand for the construction of houses was also less as there was very minimal migration among countries during covid-19 due to travel restrictions and many countries closed their airports as well.

Amino Resin Market Segment Analysis

The Global Amino Resin Market is segmented based on Type, Application, and region.

Based on the Type, the Global Amino Resin market is segmented into Melamine urea-formaldehyde, Melamine formaldehyde, and Urea-formaldehyde.

The Urea-Formaldehyde segment was valued at US$ XX billion in 2020 and a growth in market size is predicted to lead to a market size worth US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028). Urea-Formaldehyde has the highest market share as there is an increasing demand for plywood and particle boards. It is also used in furniture and home appliances. The adhesives based on Urea-formaldehyde resins are also cost-effective as it is the cheapest among amino resins based on the type and they produce smooth finished boards that are easy to machine and paint.

Melamine formaldehyde is considered the costliest among amino resins based on the type. China is also the largest consumer of urea formaldehyde and melamine formaldehyde-based amino resins. Many countries have imposed regulations on formaldehyde emissions in Japan which will hamper the market growth in the future.

Based on Application, the Global Amino Resin Market is segmented into Particle boards, Plywood, MDF, Laminates, and Coatings.

Geographical Analysis

Based on the Region, Global Amino Resin Market is segmented as - North America, Europe, Asia-Pacific, The Middle East, Africa, and South America.

The Asia-pacific region had a market share of XX% in 2020 and is expected to hold XX% by 2028. The Asia Pacific has the highest market share among all the regions as there is rising development in construction and infrastructure sectors in countries such as India and China. Some major countries in the market are India, China, South Korea, and Japan. Even the number of households is increasing in this region which increases the construction activities in this region and creates demand for furniture which is driving the market growth of Amino Resin. According to the report, the number of households in India, China, and Japan was 295 million, 499 million, and 48 million in 2020. Asia-pacific also has around 40% market share among paints and coatings.

China has the highest market share of amino resin in this region as it has a huge population and rapid urbanization. According to reports in 2019, China was the biggest exporter of furniture and furniture parts in the world with total exports of USD 63.7 billion and Vietnam was the second-largest exporter after China in the region with total exports of USD 8 billion. China is also the largest consumer of urea formaldehyde and melamine formaldehyde-based amino resins. Many countries have imposed regulations on formaldehyde emissions in Japan which will hamper the market growth in the future.

Due to covid-19, there is a delay in infrastructure and construction projects in different parts of the world which is declined the market for furniture which is hampering the market for Amino Resins. The demand from the automobile industry and paint industry for coatings is driving the market growth of Amino Resins.

Many government schemes of the Indian government are creating opportunities for construction which is driving market growth like Housing for All initiative which aims to construct 20 million households for the urban population by 2022. Recently many state governments of India have approved the Affordable Rental Housing Scheme (ARHC) and many public and private companies will be given construction projects under this scheme. The construction sector is the second largest sector after the agricultural sector in India in terms of employment.

Amino Resin Market Companies and Competitive Landscape

The Global Amino Resin market is fragmented with key global players in the market and there are many large companies in the market. Some of the major companies contributing to the market's growth are- BASF, Chemique Adhesives & Sealants Ltd, Chimica Pomponesco S.p. A, Arclin Inc, Hexza Corporation, Ineos, Georgia-Pacific LLC, Ercros S.A., Cytec Industries Inc, Chemiplastica S.p.A. and Tembec Inc and many more.

Mergers and Acquisitions, expansions, joint ventures, etc increases competition in the market like BASF SE and DIC Corporation agreed in May 2019 regarding the acquisition of BASF’s global pigments business. DIC corporation acquired Sun Chemicals in August 2019.

New products, services launched also increase competition between companies and many companies are developing innovative technologies and Partnerships and Collaborations between companies are also creating the market more competitive. Even new initiatives and innovations are taken by companies like the promotion of chemical recycling by BASF and Mitsui Chemicals in Japan.

BASF (Badische Anilin-und Sodafabrik)

Overview:

BASF SE is a chemical company which is headquartered in Ludwigshafen, Germany. It is the largest chemical public company in the world. The full form of BASF is Badische Anilin-und SodaFabrik (Baden Aniline and Soda Factory). BASF acquired Cognis and Ciba in December 2010 and April 2009 respectively. The company has joint ventures in over 80 countries. The company is also listed on several stock exchanges like the Zurich stock exchange, frankfurt stock exchange, and London stock exchange. The company deals with many products like resins, amines, plastics, crude oil exploration, industrial starch, etc. It is ranked 143 according to fortune 500. The company has various segments of operations like Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural Solutions, and Oil and Gas. The company introduced the Colors & Effects brand in 2016 the market.

Product Portfolio:

  • ACRO FLOOR 100
  • LUMINAL 044
  • CYMEL 304 resin
  • MAPRENAL MF 905/95
  • Plastopal

Key Development

  • Chemical recycling is promoted by BASF and Mitsui Chemicals in Japan.
  • BASF SE and DIC Corporation agreed in May 2019 regarding the acquisition of BASF’s global pigments business.
  • BASF launched a research laboratory for pigments in Besigheim, Germany in September 2019 under BASF’S Colors & Effects.

Financial Overview

Blackrock has more than 5% market shares, and Institutional Inventors has around 75% market shares. Germany, the U.K., US have market shares of 36%, 11%, and 17%. The company was ranked 143 rd among fortune 500 companies. The market value of the company as of 20 January 2021 is USD 7.5 billion. According to CNN business, some of the major stockholders/owners of the company are Todd Asset Management LLC, Parametric Portfolio Associates, and Silvercrest Asset Management group with market shares of 0.03%, 0.08%, and 0.01% respectively. It is ranked 143 according to fortune 500.

Why Purchase the Report?

  • Visualize the composition of the Global Amino Resin Market products in terms of type and applications, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the Global Amino Resin market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Global Amino Resin Market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The Global Amino Resin market report will provide access to approximately 53 market data tables, 44 figures, and 200 pages

Target Audience 2022

  • Equipment suppliers/ Buyers
  • Type Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Emerging Companies
  • Research professionals
  • Distributors
  • Manufacturers

 

Frequently Asked Questions

What is the Projected CAGR value of the Amino Resin Market?

Amino Resin Market is expected to grow at a CAGR of 4.5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Amino Resin Market during 2022-2029.

Which is the fastest-growing region in the Amino Resin Market?

Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.

 

Trending Topics

Minoxidil Market

Amine Oxide Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest