Amino Resins Market: Overview
Amino resins are also known as melamine resins, and have superior physical and chemical attributes. Amino resins are thermosetting resins having superior tensile strength, impact resistance, and hardness. Amino resins are water soluble before curing, colorless, and after curing have excellent water resistant, have outstanding hardness, abrasion resistance and heat resistance. Amino resins are derived from the reaction of formaldehyde with an amino compound and which later reacts with alcohol.
Amino Resins Market: Drivers & Restraints
The amino resins market is driven by the rise in demand from the automotive coatings industry. Growth of the automotive sector and increase in customer awareness regarding maintenance of vehicles is estimated to propel the amino resins market. Additionally, high demand for amino resins from the construction & housing industry for coating furniture is expected to boost the global amino resins market. However, volatile prices of formaldehyde is expected to hamper the amino resins market. Additionally, stringent regulations regarding the usage of formaldehyde in resin production due to its adverse effects on the environmental is expected to hinder the amino resins market.
Amino Resins Market: Key Segmentations
Based on type, the amino resins market can be segmented into butylated urea resins, butylated melamine resins, methylated melamine resins, waterborne melamine resins, butylated benzoguanamine resins, and others. Butylated urea resins are mainly used on wood products such as wood composites, fiberglass mats, decorative laminates, air filtration, and coated and bonded abrasives. Remaining amino resins are used in industrial coatings, cross-linking, textiles, nonwovens, papermaking, and as modifiers in materials such as textiles, tires, paper, fertilizers, glass, and metals.
In terms of application, the amino resins market can be segregated into architectural, marine, heavy duty industries, automotive, electric appliances, machinery, metal, wood & floor, construction material, cabinet & furniture making, kitchen utilities, agriculture, foam insulation, and others. Amino resins are used as adhesives in wood products. They are used with polyesters, acrylic, epoxy, and alkyd resins, which provide a desired balance, flexibility, toughness, chemical resistance, and exterior durability to the applied surface.
Amino Resins Market: Regional Outlook
Based on region, the global amino resins market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the amino resins market due to high demand for amino resins from building & construction, electrical & electronics, and automotive industries. The amino resins market in emerging countries such as China, India, Vietnam, and Bangladesh is estimated to expand at significant pace in the near future. India is expected to be a key producer of these amino resins due to the increase in its demand from construction and automotive industries. The amino resins market in the North America is estimated to expand due to high demand for these resins from end-use industries such as automotive and electronics in the U.S. and Canada. The amino resins market in Europe is projected to expand at a substantial pace due to steady demand for these resins from the automotive & construction industry. The amino resins market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period.
Amino Resins Market: Key Players
Key players operating in the global amino resins market include Hexion, DIC Corporation, BASF SE, Silekol sp. z o.o., Advachem S.A., Acron, LRBG Chemicals, Ineos Melamines Gmbh, Chemiplastica SpA, Jiangsu Sanmu Group, Georgia-Pacific Llc, Chemique Adhesives and Sealants Ltd., and Qingdao Winlong Chemical Industrial Co. Ltd.
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