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Amino Resins Market Analysis - Anticipated To Achieve About USD 15 Billion By 2018

A kind of thermosetting polymers are amino resins. The most significant amino composites in amino resins are Melamine and Urea. The amino resins market is anticipated to achieve about USD 15 billion by the end of 2018.
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Increasing demand for the amino resins market is attributed to rising applications, including wood panels, coatings and others. The vital raw materials in the production of amino resins are urea, melamine and formaldehyde. The prominent factors that drive the amino resins market are increasing wood based sectors and rising demand from China. However, rising demand for substitutes of amino resins is likely to hamper the amino resins market over the forecast period. The amino resins market can be divided into applications, types and geographies. The applications market includes molding compounds, laminates, adhesives in wood panels and coatings. Wood panel dominates the applications market. Amino acids are used to strengthen wood panels and also act as adhesive. The amino resins market, on the basis of types, can be divided into melamine urea formaldehyde resin, melamine formaldehyde resin and urea formaldehyde resin. Geographically, the amino resin market can be further divided into North America, Europe, Asia Pacific and ROW (rest of the world). Asia Pacific is leading the market. It is followed by North America and Europe. This is on account of rapidly growing wood based industries in the emerging regions of China and India. Europe and North America have shown exponential growth for the amino resins market. It is due to rising demand for roofing mats in the United States. Amino Resins Market Analysis Information Source: Grand View Research