Rapid growth for amino resin market is driven by growth in end-user industries. Global wood panel market development is one of the major market drivers for amino resins.
The building and construction industry is expected to gain momentum by end of 2013 following the financial crisis of 2011 in U.S., and Western Europe; thus enhancing the demand of wood panels.
Asia-Pacific leads in consumption of UF & MF resins followed by Europe and North America. China is the biggest consumer in the global UF and MF market satisfying the domestic demand and carries out large scale export of finished wood products to neighboring countries and Europe.
MUF resin market is expected to develop with a high CAGR due to its moderate cost and high performance. Germany is the biggest consumer of MUF resin followed by Japan.
The global market for amino resin in terms of revenue was estimated to be worth around $8.9 billion in 2012 and is expected to reach $15.1 billion by 2018, growing at a CAGR of 8.8% from 2013 to 2018. UF resin occupy the largest share in Amino resins revenue followed by MF resin and MUF resin respectively. MF resin is the costliest amino resin while UF resin is the most economical.
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Key content of this market:
Asia-Pacific: a market place of Amino resins
The amino resin industry is witnessing high growth on the account of growing demand in the Asia-Pacific region. China is the biggest producer and consumer of UF resin and MF resin. The domestic demand of wood panels in China is high due to rapid urbanization and cheap cost of finished wood products. The export of finished wood products is high to European countries from China. The other growing amino resin markets are Japan, Indonesia, India, and South Korea.
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Amino resins are thermosetting resins formed by copolymerization of amino compounds with an aldehyde. Amino resins are used in wood panels, coatings, laminates, molding compounds, adhesives, and other industry.Amino resins are majorly used as adhesives in wood panels such as particleboards, MDF, plywood, etc. The high performance of amino resin in terms of strength and resistance they provide to wood panels are major driver of amino resin market.
Amino resins are extensively used as wood adhesives in manufacture of particle board, plywood, and MDF. The other industrial applications of amino resins are in laminates, coatings, molding compound, adhesives, etc.
The report estimates the global market of UF resin, MF resin, and MUF resin till 2018. Themarket research study provides detailed qualitative and quantitative analysis of the global amino resinsmarket. The report provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and forecasted for major regions such asNorth America, Europe, Asia–Pacific, and Rest of the World. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities.Market has also been segmented on the basis of applications. The major applications for amino resins such as particle board, MDF, plywood, laminates, molding compound, coatings, etc. have been discussed in detail in the report.