The global amino resin industry is projected to reach a substantial valuation of USD 19.3 billion by 2032, showcasing a significant Compound Annual Growth Rate (CAGR) of 6.1% throughout the forecast period. Currently, the market is valued at USD 10.75 billion.
In response to the challenges facing the amino resin market, particularly concerning their environmental impact, companies in the industry are actively engaged in research and development initiatives.
For example, Arkoma has prioritized enhancing the global capacity of bio-based polyamide 11, with plans to increase capacity by at least 50% at its Singapore plant by November 2021.
Furthermore, Arkoma’s Changshu platform in China houses a facility dedicated to manufacturing polyamide 11 powders. Construction for expanding this unit is expected to commence in the first quarter of 2023. These strategic investments by Arkoma aim to meet growing demand in Asia for advanced bio-circular materials from end customers.
Unlock Insights: Request Your Sample and Stay Ahead with Our Comprehensive Report!
https://www.futuremarketinsights.com/reports/sample/rep-gb-340
Market Overview
Amino resins are synthesized through the copolymerization of amino acids with an aldehyde. They are broadly categorized into urea formaldehyde, melamine formaldehyde, and melamine urea formaldehyde based on their product types. Known for their thermosetting properties, amino resins boast excellent tensile strength, resistance, and hardness.
Primarily utilized as molding materials, amino resins augment the properties of base materials such as coating hardness and solvent resistance when combined with alkyd resins, polyester resins, epoxy ester resins, and acrylic resins. In the wood panel industry, amino resins serve as crucial adhesives for products like plywood, MDF, and particleboard.
The global demand for amino resins is closely tied to the construction sector and the overall economic health of regions. The exceptional performance of amino resins in enhancing the strength and resistance of wood panels is anticipated to propel market growth in the coming years. Furthermore, the increasing utilization of amino resins in the automotive sector, particularly in paints and coatings, is poised to fuel market expansion.
As the automotive industry grows, so does the demand for amino resins. Predominantly, amino resins are used in manufacturing laminates, which find extensive applications in construction and furniture industries.
However, stringent government regulations pertaining to formaldehyde emissions pose a significant challenge, hindering market growth. Particularly in the U.S., where regulations are stringent, the amino resins market is expected to witness sluggish growth. Despite these challenges, amino resins are finding novel applications in sectors such as electrical, household appliances, and sanitary ware.
Top Key Players
- BASF SE,
- Chemiplastica Spa,
- Advachem S.A.,
- Georgia-Pacific Llc,
- INEOSMelaminesGmbh and Jiangsu Sanmu Group Co. Ltd.,
- among others.
Power Your Business Growth: Invest in Key Insights with Our Report Checkout!
https://www.futuremarketinsights.com/checkout/340
Market Segmentations
By Regional Analysis
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube