The rapid development of the construction, building and automotive industry in India, China and South Korea is expected to increase the need for melamine in the near future.
Newark, May 26, 2022 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the melamine market is expected to grow from USD 1.9 billion in 2021 to USD 3.06 billion by 2030, at a CAGR of 4.9% during the forecast period 2022-2030. Due to its durable, rigid, glossy and robust heat resistance to moisture, staining and wear, the growing need for melamine from end-use businesses such as construction and building, automotive , food and beverage and textile use is expected for market development. The increasing use of melamine resin to form wood adhesives and to bond medium-thick fiberboard and hardwood with laminates is contributing significantly to the growth in demand for melamine. However, the increasing use of melamine resins and melamine foams is increasing the support for thermosetting plastics and small carbon tubes, which is expected to boost the development of the melamine industry over the forecast period.
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To strengthen their position in the global melamine market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market growth and trends
Melamine resins are the polymers used in the exterior or decorative coating of laminates and in the manufacture of table tops, kitchen cabinets, countertops, flooring, furniture and many more.
Phenolic resin is economical compared to melamine-formaldehyde resin. It is yellowish brown and translucent; therefore, it is unsuitable for cover layer use. Melamine-formaldehyde resin is widely used because it is simple, translucent, wear-resistant, and is frequently used as a surface dipping material. The melamine laminated sheet is in multi-layered structure, including cover paper, decorative paper and bottommost paper. The surface paper covers the patterns and techniques of the decoration part, makes the surface more glossy, strong and tough, and has better corrosion resistance and wear resistance.
• In 2021, the laminates segment dominated the market with the largest market share of 26% and revenue of 0.49 billion.
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The applications segment is divided into thermosetting plastics, wood adhesives, surface coatings and laminates. In 2021, the laminates segment dominated the market with the largest market share of 26% and revenue of 0.49 billion. Melamine resins are the polymers used in the decorative or exterior coating of laminates. Laminates are generally used in housing, construction, and electrical applications and thus have a vital influence on the global melamine market needs. For safety and decorative purposes, laminates are favorably accepted. The melamine laminated sheet comes in a multi-layered form, including the surface, decoration and the lowest paper.
• In 2021, the melamine foam segment dominated the market with the largest market share of 57% and revenue of 1.08 billion.
The type segment is divided into melamine resin and melamine foam. In 2021, the melamine foam segment dominated the market with the largest market share of 57% and revenue of 1.08 billion. Due to its abrasion resistant, complex and rigid material properties, it is suitable for use in different applications to bypass the product with any contact with water. Melamine resin is favorably heat resistant and has superior dimensional strength.
• In 2021, the construction segment led the market with the largest market share of 38% and revenue of 0.72 billion.
The end-user segment is divided into automotive, chemical, and construction. In 2021, the construction segment dominated the market with the largest market share of 38% and revenue of 0.72 billion. The development of residential and commercial sectors across the world due to rapid urbanization is driving the growth of construction industries in the melamine market.
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Regional Segment Analysis of Melamine Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia-Pacific has emerged as the largest market for the global melamine market, with a market share of around 33.2% and 0.63 billion in market revenue in 2021. APAC governs the global market need for melamine worldwide. Asia-Pacific accounted for the largest market share in 2021. Huge demand for melamine is driven by booming automotive and construction industries.
The key players operating in the global melamine market are:
• BASF SE
• Cornerstone Chemical Company
• Henan Zhongyuan Dahua Group Co Ltd
• Mevision medical systems
• Mitsui Chemicals Inc.
• OCI Melamine, Qatar Melamine Co
• Sichuan Chemical Holdings Co. Ltd.
• Sichuan Golden Elephant Chemical Co.
This study forecasts revenue at global, regional and country level from 2019 to 2030. The Brainy Insights has segmented the global melamine market based on the segments mentioned below:
Global Melamine Market by Application:
• Thermosetting plastics
• Adhesives for wood
• Surface coatings
Global Melamine Market by Type:
• Melamine resin
• Melamine foam
Global Melamine Market by End User:
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About the report:
The global melamine market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each part. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position analysis, distribution and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.