Melamine Market to be worth USD 11.57 Billion by 2028, Witnessing a CAGR of 5.1% - Report by Market Research Future (MRFR)
Melamine Market Insights and Industry Analysis by Forms (Melamine Resin, Melamine Foams), Application (Laminates, Wood Adhesives, Surface Coatings, and Thermoset Plastics), End-Use Industry (Construction, Chemical, Textile, Automotive) and Region, Competitive Market Size, Share, Trends, and Forecast to 2028
New York, USA, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Melamine Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Melamine Market Information by Form, Application, End-Use Industry, and Region - Forecast till 2028”, the market is estimated to grow at a 5.1% CAGR to reach USD 11.57 Billion by 2028.
Melamine’s demand has been surging exponentially worldwide, owing to the robust growth of the global construction sector along with the soaring demand for low-emission and lightweight automobiles.
Melamine reacts easily with formaldehyde to form melamine-formaldehyde/MF resins. Various melamine resin types are hexamethoxymethyl, melamine-urea-formaldehyde (MUF), melamine pyrophosphate, and etherified melamine.
MF resins are vastly deployed in the manufacturing of laminated wooden panels, exhibiting great resistance to stains, heat, chemical reactions, and abrasion. Therefore, these are mostly used in construction applications like furniture, remodeling as well as specialties laminates that have electrical applications.
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|2028 Market Size||2028: USD 11.57 Billion|
|Forecast Units||Value (Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Form, Application, End-Use Industry, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The rising demand from major end-user industries such as building and construction, furniture, automotive, etc.|
|There is also a rise in demand for melamine fibers and melamine foam in different industries.|
Market Competitive Landscape:
The important global companies in the melamine industry include
- Haohua Junhua Group Co Ltd. (China)
- OCI Nitrogen (Netherlands)
- BASF SE (Germany)
- Cornerstone Chemical Company (U.S.)
- Qatar Melamine Company (Qatar)
- Sichuan Golden Elephant Chemical (China)
- Mitsui Chemicals Inc. (Japan)
- NISSAN CHEMICAL INDUSTRIES. LTD. (Japan)
- Methanol Holdings (Trinidad) Limited (U.S.)
- Borealis AG (Austria)
Adoption of advanced manufacturing technologies, extensive R&D activities, and acquisitions are the top strategies used by the players in the market to elevate their business standings.
Market USP Covered:
Fast urbanization rate, rise in disposable income, and the surge in living standards are some of the top factors influencing the building and construction sector. This has ultimately been favorable for the melamine market. Melamine foams have significant sound absorption as well as flame retardancy abilities. These are, therefore; extensively used in acoustic panels, buildings, metal ceiling panels, and suspended baffles.
Some eminent companies like BASF SE, Zhong Yuan Da Hua Co. Ltd and OWA Sonex are focused on producing flexible melamine foams, which have important applications in sectors like transportation, consumer products such as cleaners, as well as construction.
Melamine resins find widespread use in the development of adhesives which are largely deployed in hotline fixing of car seats, panel laminations, trim, headlamps, and various interior component assemblies within the automotive sector. Therefore, the mounting significance of lightweight vehicles that produce low emissions and are fuel efficient eliminates the need for fixtures like nuts, clamps and screws in automotive assembling.
The melamine industry’s growth rate can be impeded by strict government laws and restrictions as well as the volatile prices of raw materials.
Browse In-depth Market Research Report (137 Pages) on Melamine: https://www.marketresearchfuture.com/reports/melamine-market-1053
COVID 19 Analysis
The COVID-19 outbreak as well as the subsequent lockdown has had a brutal effect on the automotive industry, with the temporary shutdown of manufacturing facilities and a reduction in road traffic. Many industries like packaging, and construction faced revenue losses following the SARS-CoV-2 pandemic due to travel bans and the overall economic downfall worldwide.
Disruptions in supply chains and the fall in demand in various countries following the pandemic outbreak affected the melamine market. Weakened investments and exports are the latest trends, with the trend becoming more pronounced now with the rising trade tensions between countries.
However, with the lockdown now being lifted up and a major focus on curbing the spread of the novel coronavirus, players are now able to continue with their business and also concentrate on strengthening their supply chains. This can mean a quicker recovery for the worldwide market in the upcoming period.
Melamine foam, Melamine resin, and others are the form-wise segments discussed in the report.
Melamine resin is the top form-based segment in the market, given its extensive applications in various sectors. Melamine resins are used majorly in laminates, kitchenware, floor tiles, particle boards, etc.
Laminates, Adhesives, Molding Powder, Paints & Coating, and more are the top applications of melamine.
Laminates form the biggest application-based segment in the melamine industry. Melamine laminates act as an overlay for a variety of building materials like plywood.
By End-Use industry
Construction, Chemicals, Textiles, Automotive, and more.
The construction sector will be the top end-user industry in the worldwide market for melamine. The segment’s dominance is the result of the wide usage of melamine within the construction industry. It has important applications in flooring, furniture, design boards, and more.
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The Asia Pacific is the global leader, vastly owing to the accelerated demand for melamine in construction and building, electronics, automotive, and more. The construction and building industry is currently thriving in the region, emerging as a major consumer of formaldehyde resins in nations like Japan, India, and China. The automotive industry will also be a significant end-user in the following years, giving a considerable push to the market demand.
North America can observe noteworthy growth in the near future, on account of the intensifying demand for melamine resins in various industries like textiles, coatings, plywood, paper, and more. the packaging industry will be the top end-user in the region, generating significant demand for melamine resins for use in boards, beverage cans, and jar lids. All these factors are especially the case in the U.S., Mexico, and Canada, where the market growth will be tremendous in the years ahead.
Europe will make phenomenal progress as well, given the widespread deployment of melamine resins in automotive, construction and buildings, and various other industries. These resins are increasingly being used in these sectors to manufacture efficient, low-cost, durable, and high-standard products.
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