The growing furniture and construction industry due to growing global population has been the major driver for amino resins market globally wherein China and India are forerunners.
New York, NY -- (SBWIRE) -- 11/07/2016 -- Amino resins are a type of thermosetting resins which are formed by copolymerization of amino compounds with aldehyde. Amino resins find their application in coatings, wood panels, laminates, molding compounds and adhesives. Wood panels uses largest share of amino resins among other applications where they are used as adhesives to connect particleboards, MDF and plywood. Amino resins provide strength and resistance to the wood panels.
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Based on product type, amino resins are classified under three categories namely urea formaldehyde resin, melamine formaldehyde resin and melamine urea formaldehyde resin. Melamine formaldehyde is the costliest among amino resins, while urea formaldehyde is the cheapest. The demand for automotive coatings has seen a spurt in the recent years, especially in the Asia Pacific region, due to the increasing automotive industry. This is further increasing the demand for amino resins for coatings industry. The key raw materials used in the manufacturing of amino resins are formaldehyde, urea and melamine which are sourced easily from the suppliers.
The growing furniture and construction industry due to growing global population has been the major driver for amino resins market globally wherein China and India are forerunners. China is the largest consumer of urea formaldehyde and melamine formaldehyde resins as it also exports finished wood products globally. The increasing roofing mat market in the U.S. is holding growth opportunity for amino resins market as they use amino resins. Germany and Japan are two of the largest global consumers for melamine urea formaldehyde resin market. There have been some issues related to toxic emissions from the formaldehyde used in amino resins, but their impact on the amino resins market is low in the short and medium run.
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Asia Pacific dominates the global sales in amino resins market followed by Europe and North America. Asia Pacific is expected to retain its leadership position in the forecasted period mostly due to the fast growth of wood based industries in the region. The companies in amino resins market are making strategic distribution agreements to increase their penetration towards the end-users. The key companies operating in the global amino resins market are Acron Jsc, Advachem S.A., Arclin Inc., BASF S.E., Chemiplastica SpA and Chemique Adhesives and Sealants Ltd.