Global Melamine Formaldehyde Market is poised to reach US$ 33,743.17 Mn by end of 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--Melamine formaldehyde is a resin produced by a combination of melamine. It is a hard polymer and exhibits excellent resistance to thermal, UV, and corrosion. Moreover, it is highly durable with low fire susceptibility. Construction and building, automotive, electronics, packaging, chemicals, and wood & furniture are some of the key end-users of melamine formaldehyde.

The global melamine formaldehyde market accounted for US$ 20,620.1 Mn in terms of value and 15,571.5 Kilo Tons in terms of volume by end of 2019.

Market Drivers:

The rise in the manufacturing industries around the globe is predominantly propelling the market growth of the melamine formaldehyde. Increasing use of melamine-formaldehyde resins in the manufacturing of bathroom accessories, receptacles, dinnerware, kitchen utensils, appliance components, laminates, textiles, and adhesives is again augmenting the market growth. Furthermore, melamine-formaldehyde is also used in the surface coatings, particleboard, particleboard, and laminates are further expected to foster the market growth of melamine formaldehyde.

The growing demand for melamine formaldehyde from the coatings industry is projected to accelerate market growth. It is used in the coatings of the automobiles surfaces, metal coatings, etc. Therefore, the market is also gaining growth on the account of the rise in the coating manufacturing industries. Also, an increase in the development of the infrastructure around the globe is again expected to raise demand for coatings. Thus, the high consumption of the melamine-formaldehyde from coating industries is expected to augment the market growth.

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Market Opportunities:

Increasing research and development programs by key manufacturers to develop new and innovative melamine-formaldehyde with fewer environmental impacts is projected to offer lucrative opportunities. Moreover, increasing use of melamine formaldehyde in the adhesives for exterior wood panels as they offer better water resistance is again expected to foster the market growth of the melamine formaldehyde. In addition to this, the growing use of the product in the production of wood flooring tiles from bamboo, laminates, and sawmill waste timbers is further projected to propel the market growth.

Growing demand for melamine-formaldehyde resins for molded into various heat-resistant and translucent powders is expected to bring new market opportunities. These powders are used in tableware, ashtrays, small appliance housing and components, insulators, and utensil handles. Moreover, melamine-formaldehyde offers excellent strength and high decorative properties along with the flame and thermal resistance properties which is further fostering the market growth of the melamine-formaldehyde.

Market Trends:

Increasing disposable income of the consumers is encouraging them to spend on home decor products such as furniture. This trend is expected to foster the market growth of the melamine-formaldehyde. Moreover, the rise in the population around the globe is creating demand for the housing sector which is again boosting demand for furniture. Also, improving standard of living of the consumers coupled with the growth in the urban populations across developing regions is further fostering the market growth.

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Competitive Landscape:

1. BASF SE

2. Chang Chun Plastics Co. Ltd.

3. Georgia Pacific Chemicals LLC

4. Chemiplastica SpA

5. MPC Ferrostaal GmbH

6. Chemisol Italia Srl

7. Mitsui ChemicalsInc

8. INEOS Group Holdings SA

9. Nissan Chemical Industries Ltd.

10. Borealis Agrolinz Melamine GmbH

11. Momentive Specialty Chemicals, Inc

12. Panasonic Corporation

13. OCI Nitrogen BV

Market Segmentation:

• Global Melatonin Market, By Application:
  • Tableware
  • Laminates
  • Paints & Coatings
  • Adhesives
  • Sanitary Ware
  • Electrical & House
  • Others
• Global Melatonin market, By Region:
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Middle East
    • Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.