Amino Resins Market Growth Model of Top 10 Companies, Potential Investor Strateg

Posted by Priya on May 31st, 2018

Synopsis of Amino Resins Market:

Amino resins are manufactured by copolymerization process of amino acids with an aldehyde. These are a class of thermosetting resins which possess numerous properties such as resistance, hardness, and superior tensile strength. These are generally used as molding materials. They provide various functions to base materials such as solvent resistance and coating hardness when combined with acrylic resins and polyester resins. They find extensive application scope such as textile finishers, surface coatings, laminate flooring, and paper processing in end use industries such as furniture, building & construction, automotive, and others.

Top 10 Global Key Players

Some of the prominent players operating in the amino resins market are BASF SE (Germany), Silekol sp. z o.o. (Poland), Advachem S.A (Belgium), Acron (Russia), Rayonier Advanced Materials. (U.S.), Ineos Melamines Gmbh  (Germany), Chemiplastica Spa (Italy), Georgia-Pacific LLC (U.S.), Jiangsu Sanmu Group Co. Ltd. (China), Hexion (U.S.) among others.

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As per our analysis, some of the important market factors and trends identified in the global amino resins market include rapid urbanization, rising per capita disposable income, increasing automotive production and sales. Furthermore, continuous growth in automotive sector coupled with the increase consumer awareness regarding the maintenance aspect of vehicles is estimated to propel the market growth. Additionally, speedy industrialization and rising number of working population have increased the demand for personal vehicles, which in turn, have increased the production & sales of automotive vehicles.

The above mentioned reason is predicted to drive the demand for amino resins over the forecast period, 2016 to 2023. Moreover, rising investment in the building & construction sector as well as continuous expansion of building & construction industry in the developing regions is expected to fuel the growth of the market. Increasing use of amino resins in furniture industry as well as rising demand for aesthetic design furniture is predicted to fuel the growth of the market. Growth of woodworking industry in developing economies is estimated to fuel the demand during the assessment period. However, stringent regulation regarding the emission level of formaldehyde is expected to hinder the growth of the market.

Regional Analysis

Asia Pacific holds the largest market share for amino resins in 2016 followed by Europe and North America. North America is predicted to witness a steady growth in amino resins market due to recovery of industrial sector coupled with escalating investments to revitalize furniture industry. North American countries such as the U.S. and Canada are among the major contributors in the regional market growth and are predicted to see a tremendous regional market growth owing to continuous expansion of electrical & electronics sector.

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While in Europe, countries such as France, Italy, Germany, Russia, and U.K have emerged as prominent consumer markets due to developed numerous end use industries and rising investment on R&D and innovation. Latin American countries such as Mexico, Brazil, Argentina, and Colombia are also predicted to witness moderate growth with the involvement of new business models and high automotive production and sales. The Middle East & Africa is expected to witness a significant growth during the review period. Robust growth in residential as well as commercial construction sector in Qatar, Kuwait, Saudi Arabia and the United Arab Emirates (UAE) is estimated to positively influence industry growth during the assessment period.

Segmentation

The global amino resins market is classified on the basis of type, application, end use, and regions. Based on the type, the market is categorized into melamine urea formaldehyde resin, melamine formaldehyde resin, and urea formaldehyde resin. Based on application, the market is segmented into laminate flooring, surface coatings, textile finishes, and paper processing. Based on end use, the market is classified into building & construction, furniture, automotive, electrical & electronics, and others. Based on regions, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.