Global Melamine formaldehyde Market was valued US$ 17.8 Bn in 2019, and expected to reach US$ $ 27.1 Bn by 2026, at CAGR of 5.39 % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Melamine formaldehyde or Melamine resin (melamine) is a hard, thermosetting plastic material made from melamine and formaldehyde by polymerization. It is better resistance to chemicals, moisture, heat, electricity, and scratching. Generally, Melamine formaldehyde resin is compared with urea-formaldehyde resin with respect to its application and processing. It has some unique properties such as low density, thermal stability, high gloss, transparency, and light fastness. Owing to its unique properties, melamine formaldehyde has found great industrial applications in fire retardants, surface coatings, plywood, particleboard, adhesives, molding compounds and laminates among others.
Increase in demand for construction, furniture, packaging, automotive, and other end-user industries is fueling the growth of the global melamine formaldehyde market. The melamine formaldehyde market is also driven by the rising usage of the resin in the manufacture of laminates and adhesives. Properties such as thermal insulation and excellent chemical resistance make melamine formaldehyde for use in surface coatings and decorative laminates of automobile interiors in the automotive industry.
The driving factor of the market is Growing demand for melamine formaldehyde from the automotive industry.
However, fluctuation in the cost of raw materials could hamper the market growth. Melamine formaldehyde has replaced urea formaldehyde, creating another growth opportunity for this market. Further, Strict government regulations on the raw material because of pollution it also hampers the market growth.
Geographically, Melamine formaldehyde market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific dominated the global market, due to increasing the population and increasing demand from construction and automotive industries.
North America has closely followed the Asia Pacific with owing to an increase in demand from construction and coatings industry. South American region is expected to rapid market development over the forecast period.
Africa is predicted to observe rapid growth over the next eight years owing to growing demand from construction industry, coatings market and furniture industry.
Key players operating in the global Melamine formaldehyde market are Hexza Corporation Berhad, INEOS Group, BASF SE, OCI Nitrogen BV, Qatar Melamine Company, Eurotecnica, Mitsui Chemicals, Ineos Melamines, Chimica Pomponesco S.p.A, Chemplastica, and Allnex Belgium S.A.
The report covers total market for Melamine formaldehyde has been analyzed based on the Porter’s five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Scope of Melamine formaldehyde Market:
Global Melamine formaldehyde Market, by Application
• Construction and Building
• Wood and Furniture
Global Melamine formaldehyde Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Melamine formaldehyde Market:
• Hexza Corporation Berhad
• INEOS Group
• BASF SE
• OCI Nitrogen BV
• Qatar Melamine Company
• Mitsui Chemicals
• Ineos Melamines
• Chimica Pomponesco S.p.A,
• Allnex Belgium S.A.
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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