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Amino Resin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Amino Resin Market is Segmented by Type (Urea-formaldehyde (UF), Melamine-formaldehyde (MF), Melamine-urea Formaldehyde (MUF)), End-user Industry (Paints and Coatings, Adhesives and Sealants, Textile, Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East and Africa).

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Market Snapshot

Amino Resin Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Amino Resin Market Key Players

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Market Overview

The market for the amino resin is expected to grow at a CAGR of over 4% during the forecast period. The primary factor driving the market studied is increasing demand from the paints & adhesives industries. On the flip side, the hazardous air pollutants produced during the manufacture of amino resin and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • The use of amino formaldehyde-based resin technologies in the manufacture and use of food-contact coatings is expected to offer various opportunities for the growth of the market.
  • The adhesives & sealants industry is expected to dominate the global amino resin market over the forecast period.
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries, such as China, India, and Japan.

Scope of the Report

The amino resin market report includes:

Type
Urea-Formaldehyde (UF)
Melamine-Formaldehyde (MF)
Melamine-Urea Formaldehyde (MUF)
Application
Paints and Coatings
Textile
Adhesives & Sealants
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from the Adhesives and Sealants Industry

  • The adhesives and sealants industry is anticipated to register a CAGR of approximately 5%, during the forecast period. Significant applications of amino resin are in adhesive and sealants in the wood paneling industry for products such as plywood, chipboard, particleboard, medium-density fiberboard, sawdust board, etc.
  • The residential construction growth rate estimations for 2020 for major economies, such as India, China, and the United States, are 9%, 4%, and 3%, respectively. With the increasing housing construction and population, across the world, the demand for plywood, chipboard, particleboard, medium-density fiberboard, sawdust board, etc., for furniture, such as chairs, table, bed, sofa, shelves, and cupboard, is increasing significantly.
  • In the furniture industry, concepts related to interiors of homes, offices, and flats are changing continuously. This is driving innovation and development, primarily in terms of designs, size, and colors. This is expected to augment the consumption of urea-formaldehyde (UF), melamine-formaldehyde (MF), and melamine-urea-formaldehyde (MUF) to be used mainly as adhesives in the wood paneling industry.
  • Hence, due to the factors mentioned above, the adhesives and sealants segment is expected to dominate the amino resin market during the forecast period.
Amino Resin Market Key Trends

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to be the dominant market in amino resin consumption. This is because the region dominates the market for the end-use industries such as adhesives & sealants, paints & coatings, textile industry, etc.
  • In 2019, the largest consumer of amino resin was China, accounting for nearly 50% of each, urea-formaldehyde (UF) and melamine-formaldehyde (MF). Growth has been strong in China as a result of the higher output of panels for furniture and other goods used in interior applications. China is also the dominant exporter of wood furniture to Europe.
  • The Asia-Pacific region constitutes the largest demand market, accounting for more than 40% of the demand for paints & coatings, worldwide. The region's commanding share of the market is expected to expand even further, driven by the continued population growth, urbanization, and spending power in countries like China, Japan, South Korea, and India, and the Southeast Asian nations. Amino resins are used as binders in paints and coatings.
  • Thus, rising demands from the above-mentioned end-user industries are expected to drive the growth in the Asia-Pacific region.
Amino Resin Market Growth by Region

Competitive Landscape

The amino resin market is fragmented with the presence of both international and domestic players in the market. The major companies in the market studied include BASF SE, DIC Corporation, Hexion, Georgia-Pacific Chemicals, and Dynea AS, among others.

Acron, Arclin Inc., BASF SE, Chemique Adhesives & Sealants Ltd, DIC Corporation, Eastman Chemical Company, Ercros SA, Dynea AS

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Paints and Adhesives Industries

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Hazardous Air Pollutants Produced During the Manufacture of Amino Resin

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

    6. 4.6 Regulatory Policies

    7. 4.7 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Urea-Formaldehyde (UF)

      2. 5.1.2 Melamine-Formaldehyde (MF)

      3. 5.1.3 Melamine-Urea Formaldehyde (MUF)

    2. 5.2 Application

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Textile

      3. 5.2.3 Adhesives & Sealants

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Merger & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Acron

      2. 6.4.2 Arclin Inc.

      3. 6.4.3 BASF SE

      4. 6.4.4 Chemique Adhesives & Sealants Ltd

      5. 6.4.5 DIC Corporation

      6. 6.4.6 Eastman Chemical Company

      7. 6.4.7 Ercros SA

      8. 6.4.8 Dynea AS

      9. 6.4.9 Hexion

      10. 6.4.10 LRBG Chemicals Inc.

      11. 6.4.11 Georgia-Pacific Chemicals

      12. 6.4.12 Kronoplus Limited

      13. 6.4.13 Synpol Products Private Limited

      14. 6.4.14 Uniform Synthetics

      15. 6.4.15 Wanhua Ecoboard Co. Ltd

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Amino-Formaldehyde-based Resin Technologies in the Manufacture and Use of Food-Contact Coatings

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Amino Resin Market market is studied from 2016 - 2026.

The Amino Resin Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, DIC Corporation, Hexion, Georgia-Pacific Chemicals, Dynea AS are the major companies operating in Amino Resin Market.

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