Market Overview:
The Amino Resins Market size was reasonably estimated to be approximately USD 7.14 Billion in 2023 and is poised to generate revenue over USD 9.59 Billion by the end of 2030, projecting a CAGR of around 4.30 % from 2023 to 2030.
Amino Resins are primarily utilized in high-pressure applications, including those found in factories, industrial settings, oil and gas equipment, chemicals, and petrochemicals, among others. The analyst states that the market for amino resins is anticipated to exhibit strong demand and compound annual growth rate due to many causes, including advancements in the water and waste water management sector and the sanitation industry. The market for amino resins is predicted to develop at a high rate of compound annual growth (CAGR) during the forecast period due to the strong demand for electrically operated pumps being raised by major participants in the industry, particularly in the chemical sector. Because of the industry overview and the size of the amino resins market in areas like Asia-Pacific, North America, and the Middle East, the market is expanding rapidly. According to the analyst of Introspective market research, Amino Resins is divided into segments based on end-user industry, mechanism type, discharge pressure type, operation type, and regional market size. Important market participants and rivals are concentrating on different tactical initiatives involving R&D to investigate the Amino Resins Discharge Pressures market. The most researched and invested in operation types are expected to be mergers and acquisitions, facility expansions, and related investments. Of these, the double acting operating type is expected to have the highest compound annual growth rate (CAGR) of any operating type, with an estimated market size of USD 4.48 billion for amino resins in 2020 and end user industries like petrochemicals, chemicals, and oil and gas driving the market's growth.
Top Key Players Covered in The Amino Resins Market:
- BASF SE (U.S)
- Hexion (U.S)
- Georgia Pacific Chemicals (U.S)
- Dynea AS (Norway)
- Prefere Resins (Germany)
- Platinum Resins (Indonesia)
- Kronoplus Limited (Austria)
- DIC Corporation (Japan)
- AB Achema (Lithuania)
- BI-QEM (Italy) and other major players
Market Dynamics and Factors:
The market for amino resin has been mostly driven by the widespread use and demand for urea formaldehyde (UF) resin across a variety of sectors. Amino resins, such as UF resins, are indispensable in many applications because of their remarkable qualities and adaptability. The market for amino resins has expanded due in part to the increasing demand and widespread use of urea formaldehyde (UF) resin and other amino resins. A wide range of sectors, including wood, construction, automotive, textile, electronics, aerospace, and more, use UF resins. Strong bonding, controlled release, and fire resistance are just a few of their special qualities that make them invaluable in a variety of production processes. The market research future report for amino resins is available here. he market for amino resins and the development and expansion of the building and construction sector are closely related. Amino resins are widely used in the construction sector; they are essential for many different applications, such as adhesives, varnishes, laminates, and wood products. The global construction industry's continued prosperity is propelling the market's expansion and increasing demand for amino resins.
The Amino Resins Market Report Highlight:
- By Type, The urea formaldehyde, melamine formaldehyde, and melamine urea formaldehyde segments make up the amino resins market. Urea-formaldehyde is the type of amino resin that accounted for the biggest portion of the global amino resin market. Condensation of urea and formaldehyde produces urea formaldehyde. It is extensively employed in the production of wood-based panels, including plywood, particleboard, and fiberboard. The wood industry is demanding more urea-formaldehyde resin due to its many benefits, including low cure temperature, resistance to mold formation, great water solubility, outstanding thermal qualities, and relatively cheaper cost. The increasing wood industry worldwide is expected to drive rising demand for urea formaldehyde, which will propel the global amino resins market's expansion.
- By End-User, Building and construction accounted for a sizable percentage of the market. Amino resins are utilized in insulation goods such as foam insulation boards and roofing mats. These resins offer improved fire protection, thermal insulation, and moisture resistance to increase a building's durability and energy efficiency. The building and construction business is driven by infrastructure development projects, which include residential, commercial, and industrial construction. This sector, which is also impacted by increasing urbanization, population growth, and government initiatives for infrastructure development, accounts for a sizable component of the amino resin market.
- By Region, North America and Europe hold a sizable share of the global amino resins market. The region's steadily expanding wood and furniture industries are responsible for the amino resins market's increased growth. It is expected that increased investment in the automotive sector in both North America and Europe will propel market expansion even more. The market for amino resins is anticipated to grow in the region because to the presence of significant auto giants like the BMW Group, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, etc.
The Amino Resins Market Segmentation:
By Type
- Urea-formaldehyde (UF)
- Melamine-formaldehyde (MF)
- Melamine-urea Formaldehyde (MUF)
By End-user
- Paints and Coatings
- Adhesives and Sealants
- Textile
- Other End-user Industries
For this report, Introspective Market Research has segmented the Amino Resins Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Key Industry Development:
- In April 2023: Arclin Inc. enters into partnership agreement with INSERCO Industrie Service GmbH for expanding its business in South American region. With this partnership, Arclin Inc will be able to grow its presence in Soth American market by leveraging the industry expertise of INSERCO Industrie Service GmbH.
- In April 2023: Allnex celebrated the mechanical completion of production lines of its new manufacturing hub in China. This production base will be focusing on the manufacturing of environmentally friendly high-performance resins in order to promotive green innovation in addition to fulfil the increasing demand of China and global market for high quality resins.
