Amino resins are formulated with the help of copolymerization of amino compounds with an aldehyde. They are commonly termed as thermosetting resins and are utilized in wood panels, laminates, coatings, adhesives, and molding compounds. The significance of the amino resins is recognized by its applicability in the production of wooden panels, such as MDF, plywood, and particleboards among others. The main factors influencing the market demand of amino resins are its ingrained properties in terms of strength and resistance. Other market drivers include growth in the automotive and paint industries that have elevated the market demand of amino resins. In addition to this, growing expansion of the research and development facilities in the amino resin market will enhance the market demand of these chemical compounds in the coming years.
The Asia-Pacific amino resins market was valued at $4049.77 million in 2013, and is projected to reach $6049.91 million by 2018, at a CAGR of 9% for the forecast period of 2013 to 2018.
The Asia-Pacific amino resins market is segregated on the basis of geography, ingredient, type, and application. According to type, this market is classified into melamine formaldehyde resin, melamine urea formaldehyde resin, and urea formaldehyde resin. With respect to ingredients, this market is categorized into formaldehyde, melamine, and urea. On the basis of application, the amino resin market is classified into adhesive, laminates, medium density fiberboard (MDF), particleboard, plywood, and roofing mats.
Asia-Pacific is considered to be the largest consumer of amino resin products, thereby influencing the overall growth of the amino resins market. China has registered the highest share in the amino resins market in this region, which is attributed to the domestic demand of wood panels with respect to rapid urbanization and cost-effectiveness of finished wood products. Apart from China, India, Japan, Indonesia, and South Korea have also contributed to a large extent, resulting in growth of the market.
The Asia-Pacific amino resins market report illustrates the segment-wise contribution and trends in the overall market. The market size is defined both in terms of value as well as volume, with a study of various influencing factors that will impact the market during the forecast period.
The report provides an analysis of the competitive landscape and individual profiles of the leading and emerging companies of the market.
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