New York, NY 11 Mar 2020:The global melamine market size is projected to reach USD 10.55 billion by 2026 growing at a CAGR of more than 4.0% from 2019 to 2026, as per a new research report published by Polaris Market Research. The report ‘Melamine Market Share, Size, Trends, & Industry Analysis Report, [By Type (Resin and Foam), By Application (Laminates, Wood, Adhesives, Molding Compounds, Paints & Coatings), By End-use (Construction, Automotive, OEM), By Regions]: Segment Forecast, 2019 – 2026’ offers a wide analysis of different applications in along with insights related to current and future trends in the market.
Melamine is a chemical substance, obtained in two forms including melamine resins and melamine foams. The chemical content of the two product types is almost same and are used depending upon the type of applications. Melamine is an extensively used chemical compound on account of its superior chemical, mechanical properties, and flame-retardant properties.
Melamine is mainly used in laminates and wood adhesives. Increasing construction spending with growing disposable income of the consumers has led to growth in melamine consumption. With recovery and advancements in the developing nations, the consumer spending on home decor products and luxury furniture has increased which has directly risen the demand for wood adhesives and laminates.
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The demand of melamine mainly follows the level of development in the economies, where the demand in most of the downstream sectors is influenced by the general economic conditions. Automotive production, remodeling, construction, and original equipment manufacturers (OEM) are the few major end-use segments for melamine. In Addition to this, technological trends such as reduction of formaldehyde emissions in anticipated to become a growth factor for melamine as it is a strong formaldehyde-binding agent.
Asia Pacific is the most lucrative region for the melamine market with China as the single major participant, accounting for a share of over 40% of the total market consumption. China is expected to witness rapid growth till 2022 with anticipated increased production and additional capacities. The local consumption in the country is expected to be driven by the rapid growth in the real estate market. Melamine consumption in the automobile coatings is expected to witnesses moderately slower growth whereas its use in surface coatings for metal containers and appliances is likely to grow.
Europe accounts for approximately 28% share of the market and is the second-largest regional player in the melamine market. Eastern and Central Europe is anticipated to witness higher growth as compared to the rest of Europe due to higher consumption of melamine in laminates and wood adhesives. Melamine consumption growth in the Western Europe is expected to moderate on account of growth in residential remodeling and construction, vehicle productions, floor innovations, and do-it-yourself projects.
The global melamine industry constitutes large number of domestic and international players. Its is a moderately fragmented industry with high degree of backward integration across the value chain by the market players. Some of the major melamine market players include OCI Melamine, BASF SE, Borealis AG, Hexion Specialty Chemicals, Sichuan Golden Elephant Chemical Co., Qatar Melamine Co., and Mitsui Chemicals Inc.
Polaris Market Research has segmented the global melamine market on the basis of by type, Application, end user and region:
Melamine By Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
· Melamine Resin
· Melamine Foam
Melamine By Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
· Molding Compounds
· Paints & Coatings
Melamine By End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
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