Melamine market, Ongoing Trend With Most Demanding Players Analysis Forecast -2030
The melamine market size was valued at USD 8.8 billion in 2021. The melamine industry is projected to grow from USD 9.25 Billion in 2022 to USD 13.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2022 - 2030).
The
global demand for the products of the Melamine
Market is primarily driven by growth in demand for
laminates across the globe, a rise in consumption of Melamine in the wood
adhesive industry, and increased construction activities. Globally, there has
been a significant undersupply to meet the APAC demand for housing. For
example, in the Chinese region, residential investment grew by about 13.9%
during the first eleven months of 2019, reaching $1,518.9 billion. The area
under residential construction during the period was recorded to have reached
6,276.73 million square meters, indicating a 10.1% growth. However, in
countries such as the U.S., the value of new private residential buildings has
decreased from $5 39,607.0 million in 2018 to $5 14,629 million in 2019.
Melamine,
a white crystalline substance, is a member of the heterocyclic organic compound
family, and it contains 66% nitrogen by mass. When Melamine comes in contact
with formaldehyde and other agents, they give rise to formaldehyde, and
melamine resins under the process of polymerization. These resins have features
like they are hard, glossy, durable, and exhibit intense heat, followed by
moisture, and stain resistance.
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Segmentation:
Global Melamine
Market is segmented by Form, Application and End-User Industry.
On the
basis of the Product Type, Global Melamine Market is segmented into melamine
resin, melamine foam, and others.
On the
basis of the Application, Global Melamine Market is segmented into surface
coating, thermoset plastics, laminates, wood adhesives, and others.
On the
basis of the End-User Industry, Global Melamine Market can be segmented into
automotive industry, construction, chemical industry, textile industry, and
others.
Regional
Analysis:
Global Melamine
Market is spanned across five regions namely North America, Europe, Asia
Pacific (APAC), Middle East & Africa (MEA), and Latin America.
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Competitive
Analysis
The
important success factors in the market are attained without difficulty in the
market which is adding to a raised pace of improvement in the forecast period.
The market pull and competitors’ propensities are markedly enhanced by the
strategies that are being used by market competitors. The invention in the
products and services of the markets will change the progression of the melamine
formaldehyde resin market
remarkably. The escalating level of importance placed on the alternatives of
the products is increasing the number of customers in the market noticeably.
OCI
Nitrogen (Netherlands), BASF SE (Germany), Haohua Junhua Group Co, Ltd.
(China), Cornerstone Chemical Company (U.S.), Nissan Chemical Industries. Ltd.
(Japan), Methanol Holdings (Trinidad) Limited (U.S.), Sichuan Golden Elephant
Chemical (China), Mitsui Chemicals, Inc. (Japan), Qatar Melamine Company
(Qatar), and Borealis AG (Austria) are a few of the important competitors
functioning in the Melamine Market globally.
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