New York, March 04, 2020 (GLOBE NEWSWIRE) -- The Global Melamine market is forecast to reach USD 10.21 Billion by 2027, according to a new report by Reports and Data. Melamine, also known as triaminotriazine, has a molecular formula of C3H6N6, which is an organic compound. It is a trimer of cyanamide, comprising of 1, 3, 5-triazine skeleton. Like cyanamide, this organic compound comprises of 67% nitrogen by mass. The derivate of triaminotriazine has fire retardant traits as it releases nitrogen gas when charred or burned. Melamine resins can be produced from it, by combining with formaldehyde and other agents. One of the mentionable trait of these resins are, it provides with durable thermosetting plastic that have a wide arena of application like melamine dinnerware, high pressure decorative laminates like Formica, dry erase boards and laminate flooring.
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Another mentionable use of this organic compound is in manufacturing melamine foam that is used in polymeric cleaning products, soundproofing material, and insulation. Thus, a wide arena of application of this compound is one of the mentionable factors spurring the growth of the market. Factors like increasing the use of melamine in high resistance concrete, the expansion of the automotive and construction industry, and rising focus on home decoration are also propelling the growth of the market.
In regards to region, North America can be seen to occupy a significant share of the market. The market share held by the region is associated with well-established automotive sector and expanding construction sector.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented the global Melamine market according to Forms, Application, End-user, and Region:
Forms Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
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