Benzoguanamine Market: Overview

Benzoguanamine is an organic chemical compound, having the chemical formula (CNH?)?N?. It is related to melamine but with one amino group replaced by phenyl. Benzoguanamine is a triazine compound, widely used in the manufacturing of melamine resins. Precisely, benzoguanamine is consumed as a cross-linking agent of alkyd and acrylic resin to maximize their thermoset properties. It is used as a raw material for manufacturing of guanamine resins. Benzoguanamine is a modifier and flexibilizer of formaldehyde resins, and acts as an intermediate in the pharmaceutical industry.

Benzoguanamine Market: Segmentation

The global benzoguanamine market can be segmented based on product type, end-use application, and region. Based on product type, the market can be bifurcated into purity ≥98% and purity < 98%. The purity ≥98% segment is likely to remain dominant product type during the forecast period. This is due to high consumption of the product in the manufacturing of resins. In terms of application, the benzoguanamine market can be segregated into paints, fluorescent pigments, resins, pharmaceuticals, agrochemicals, and others. Among these, the resins and pharmaceuticals segments is expected to held dominant share of the market due to their wide application in building & construction and medicine.

Benzoguanamine Market: Trends & Developments

Demand for benzoguanamine has been increasing due to rise in consumption of the compound in various industries. Increase in application of benzoguanamine in resins and color pigments is likely to fuel the demand for the compound in the next few years. Growth in the building & construction industry has boosted the demand for paints and resins, which in turn, is driving the demand for benzoguanamine in the market. Additionally, wide applications of benzoguanamine in agrochemicals for food safety and preservation and in pharmaceuticals are expected to augment the growth of the benzoguanamine market during the forecast period. However, concerns related to human health and the environment are anticipated to restraint the overall growth of the market in the near future. Nevertheless, increase in application of benzoguanamine in paints and resins for building & construction and infrastructure activities are estimated to create lucrative opportunities for the benzoguanamine market during the forecast period.

Benzoguanamine Market: Regional Outlook

Based on region, the global benzoguanamine market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a major market for benzoguanamine owing to the significant growth of the agriculture, building & construction, and infrastructure industries. This, in turn, is propelling the demand for agrochemicals, paints, and resins in the region. Resins and color pigments are the major application areas of benzoguanamine. Rise in construction activities in emerging economies such as China, India, Singapore, and Brazil is likely to propel the demand for benzoguanamine in the next few years. The benzoguanamine market in North America and Europe is anticipated to grow moderately during the forecast period due to rise in reconstruction and renovation activities in these regions. The benzoguanamine market in Middle East & Africa and Latin America is projected to expand at a reasonable pace in the near future due to the presence of emerging economies in these regions.

Benzoguanamine Market: Key Players

Key players operating in the global benzoguanamine market are NIPPON CARBIDE INDUSTRIES CO. INC., AlzChem AG, Jiangsu Weunite Fine Chemical Co., Ltd., ,YangZhou ShuangDing chem Co., Ltd., Tian Tong Fine Chemical Ltd., Wuhan Youji Industries CO., LTD, and Hongrun.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.