Newark, May 26, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global melamine market is expected to grow from USD 1.9 billion in 2021 to USD 3.06 billion by 2030, at a CAGR of 4.9% during the forecast period 2022-2030. Due to its long-lasting, stiff, shiny, and robust heat resistance to moisture, stain, and wear properties, the increasing need for melamine from end-use enterprises such as construction and building, automotive, food and beverage, and textile usage is anticipated for the market development. The growing use of melamine resin to form wood adhesive and bonding medium thickness fibreboard and hardwood with laminates substantially contributes to the development of melamine demand. However, the rising usage of melamine resins and melamine foams build up the support for thermoset plastics, and small carbon tubes which is expecting to push the melamine industry development in the forecast period.
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Competitive Strategy
To enhance their market position in the global melamine market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
Melamine resins are the polymers utilized in the exterior or decorative coating of laminates and the manufacture of tabletops, kitchen cabinets, counters, flooring, furnishings, and many more.
Phenolic resin is economical in comparison to melamine-formaldehyde resin. It is yellowish-brown and translucent; therefore, it is inappropriate for cover layer usage. Melamine formaldehyde resin is broadly operated as it is straightforward, translucent, wear-resistant, and frequently serves as a surface dipping material. Melamine laminated sheet is in a multilayer structure, including cover paper, decorative paper, and lowermost paper. The surface paper covers patterns and techniques on the adorning piece, makes the surface brighter, solid, and strong, and delivers more good corrosion and wear resistance.
Key Findings
• In 2021, the laminates segment dominated the market with the largest market share of 26% and market revenue of 0.49 billion.
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The application segment is divided into thermoset plastics, wood adhesives, surface coatings, & laminates. In 2021, the laminates segment dominated the market with the largest market share of 26% and market revenue of 0.49 billion. Melamine resins are the polymers utilized in the decorative or external coating of the laminates. Laminates are typically used in housing, building, and electrical applications and therefore have a vital influence on the worldwide need for the melamine market. For safety and decoration objectives, laminates are favourably accepted. Melamine laminated sheet comes in a multilayer form, including surface, decoration, and bottommost paper.
• In 2021, the melamine foam segment dominated the market with the largest market share of 57% and market revenue of 1.08 billion.
The type segment is divided into melamine resin & melamine foam. In 2021, the melamine foam segment dominated the market with the largest market share of 57% and market revenue of 1.08 billion. Due to its abrasion-resistant, complex, rigid material properties, it is appropriate for usage in different applications to bypass the product with any water contact. Melamine resin is favourably resistant to heat and has superior dimensional strength.
• In 2021, the construction segment dominated the market with the largest market share of 38% and market revenue of 0.72 billion.
The end user segment is divided into Automotive, Chemical, and Construction. In 2021, the construction segment dominated the market with the largest market share of 38% and market revenue of 0.72 billion. The development in residential and commercial sectors worldwide due to rapid urbanization leads to the growth of construction industries in the melamine market.
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Regional Segment Analysis of the Melamine Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global melamine market, with a market share of around 33.2% and 0.63 billion of the market revenue in 2021. The APAC is ruling the global market need for melamine material worldwide. The Asia Pacific accounted for the most extensive market share in 2021. The enormous demand for melamine is due to the rise of the automotive and construction industries.
Key players operating in the global melamine market are:
• BASF SE
• Cornerstone Chemical Company
• Henan Zhongyuan Dahua Group Co Ltd
• Mevion Medical Systems
• Mitsui Chemicals Inc
• OCI Melamine, Qatar Melamine Co
• Sichuan Chemical Holdings Co. Ltd.
• Sichuan Golden Elephant Chemical Co
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global melamine market based on the below-mentioned segments:
Global Melamine Market by Application:
• Thermoset Plastics
• Wood Adhesives
• Surface Coatings
• Laminates
Global Melamine Market by Type:
• Melamine Resin
• Melamine Foam
Global Melamine Market by End User:
• Automotive
• Chemical
• Construction
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About the report:
The global melamine market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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