Market Size of Amino Resin Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.30 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Amino Resins Market Analysis
The Amino Resin Market size is expected to grow from 7.17 million tons in 2023 to 8.86 million tons by 2028, at a CAGR of 4.30% during the forecast period (2023-2028).
The COVID-19 outbreak brought several short-term consequences in various industries, espacially construction and textile end-user industries, affecting the market demand for the paints & coatings, adhesives, and textile chemicals.
- 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 is expected to hinder 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.