LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global melamine formaldehyde market is projected to reach 6,400.74 thousand metric tons by 2021, growing at a CAGR of nearly 6% over the forecast period.
This research report titled ‘Global Melamine Formaldehyde Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Melamine formaldehyde exhibits good properties such as durability and resistance to heat when cross-linked with other chemical products, which makes it suitable for a number of end-user industries such as furniture, automotive, and construction. Currently, the growing use of melamine formaldehyde in automotive manufacturing facilities has been contributing to the market for melamine-formaldehyde resins.|
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Based on the applications, the report categorizes the global melamine formaldehyde market into the following segments:
- Molding powder
- Other applications
The top three revenue-generating application segments in the global melamine formaldehyde market are discussed below:
“Melamine formaldehyde is used most commonly to produce laminated products. The application of melamine formaldehyde on laminated products exhibits superior properties such as strong resistance to heat and stain, creating a high demand in the sector,” says Ajay Adikari, a lead analyst at Technavio for specialty chemicals research.
Melamine formaldehyde resins are also used in housing applications such as furniture manufacturing and remodeling. In the construction industry, it is used for both residential and non-residential applications. High-pressure melamine formaldehyde laminates are very popular since they are homogenous, high-density, and durable surfacing materials which provide resistance to chemicals, abrasion, and heat.
The global melamine formaldehyde market for adhesives is expected to grow at a moderate pace over the forecast period. Melamine-formaldehyde resins function as a thermosetting adhesive and are widely used as adhesives for semi-exterior and exterior wood panels. These resins are also used in the manufacture and bonding of low- and high-pressure overlays and paper laminates. Melamine formaldehyde provides enhanced water resistance when compared to other urea-formaldehyde resins, resulting in its increased use in the manufacture of wood flooring tiles from bamboo, saw mill waste timbers, and bamboo laminates.
The strong thermosetting features of melamine-formaldehyde resins make them ideal to be molded into various heat-resistant and translucent powders that are tasteless, odorless, and have a pale color. These powders are used in ashtrays, tableware, utensil handles, small appliance housing and components, wash resistant buttons, insulators, and various other products.
“The products made from molding powders are resistant to heat, chemicals, water, discoloration, and are relative non-conductive. Also, melamine formaldehyde showcases a blend of hardness and high decorative qualities while offering flame resistance and thermal stability, which greatly boosts its adoption,” says Ajay.
The top vendors highlighted by Technavio’s research analysts in this report are:
- HEXZA CORPORATION BERHAD
- INEOS Melamines
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