New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Melamine Market Size is to Grow from USD 9.73 Billion in 2023 to USD 15.79 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.96% during the projected period.
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Melamine is a white, crystalline material with the chemical formula C3H6N6, used extensively in flame retardants, adhesives, plastics, worktops, and dishware. Melamine is commonly used in the form of melamine resin, which is made by combining formaldehyde and melamine; laminate flooring, cookware, furniture, and other home products all commonly include this resin these resins withstand extreme heat, moisture, and stains, and are strong, glossy, and long-lasting. Melamine is worked in metal soundproofing, insulation, and polymeric cleaning products like magic erasers. Melamine is a versatile chemical with applications in many different sectors of the economy. The increase of melamine is directly proportional to the need for it in coatings, wood adhesives, and laminates. The need for strong materials such as melamine is increasing in parallel with the expansion of urbanization and infrastructure development projects. Melamine is ideal for use in construction applications because of its resistance to heat, chemicals, and moisture. This helps to extend the life and functionality of various building components. However, the manufacture of melamine requires two raw materials ammonia and natural gas. Modifications in the cost of different raw materials can have a significant influence on the costs involved with producing melamine.
Browse key industry insights spread across 228 pages with 110 Market data tables and figures & charts from the report on the " Global Melamine Market Size, Share, and COVID-19 Impact Analysis, By Type (Melamine Resin and Melamine Foams), By Application (Laminates, Wood Adhesives, Surface Coatings, and Thermoset Plastics), By End Users (Construction, Chemical, Textile, and Automotive), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The melamine resin segment is anticipated to hold the greatest share of the global melamine market during the projected timeframe.
On the basis of type, the global melamine market is divided into melamine resin and melamine foams. Among these, the melamine resin segment is anticipated to hold the greatest share of the global melamine market during the projected timeframe. The demand for lightweight, fuel-efficient cars that cut emissions and do away with the need for fasteners like nuts and clamps throughout the automotive production process is driving the growth of the melamine resin segment in the global melamine market.
The laminates segment is anticipated to grow at the fastest pace in the global melamine market during the projected timeframe.
On the basis of application, the global melamine market is divided into laminates, wood adhesives, surface coatings, and thermoset plastics. Among these, the laminates segment is anticipated to grow at the fastest pace in the global melamine market during the projected timeframe. Three layers make up melamine laminated sheets of surface paper, decorative paper, and bottom paper. The surface paper protects the ornamental paper's patterns and designs while strengthening the surface's resistance to friction and corrosion.
The construction segment is predicted to hold the greatest share of the global melamine market during the estimated period.
On the basis of end-users, the global melamine market is divided into construction, chemical, textile, and automotive. Among these, the construction segment is predicted to hold the greatest share of the global melamine market during the estimated period. Melamine's strong mechanical and chemical qualities, such as its superior resistance to heat, moisture, and wear and tear, are the main factors driving its demand in construction sectors.
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North America is expected to hold the largest share of the global melamine market over the forecast period.
North America is expected to hold the largest share of the global melamine market over the forecast period. Additionally, the increase in disposable money allowed more people to purchase new furniture for their houses as opposed to easily accessible pre-owned products. Herman Miller, Ashley Furniture Industries, Ikea, Williams-Sonoma Inc., and HNI Corporation are some of the largest furniture manufacturers in the United States. The US automotive and electrical electronics industries also make substantial use of melamine for a range of applications.
Asia Pacific is predicted to grow at the fastest pace in the global melamine market during the projected timeframe. The existence of significant economies that are expanding and the rapid urbanization of countries like China and India. In addition, rising living standards and disposable income will drive the expansion of the building industry, which will raise product demand in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global melamine market include Haohua Junhua Group Co Ltd., OCI Nitrogen, BASF SE, Prefere Resins Holding GmbH, Xinji JiuYuan Chemical Industry Co., Ltd, Cornerstone Chemical Company, Qatar Melamine Company, Sichuan Golden Elephant Chemical, Mitsui Chemicals Inc., Nissan Chemical Industries. LTD., Methanol Holdings, Borealis AG, PETRONAS Chemicals Group (PCG), and others.
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Recent Developments
- In August 2022, The Melamine Plant Project was launched by PETRONAS Chemicals Group Berhad (PCG) near PETRONAS Chemicals Fertilizer Kedah Sdn Bhd (PC FK). The Asia-Pacific region's status as a chemical production hub will be enhanced by this project.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global melamine market based on the below-mentioned segments:
Global Melamine Market, By Type
- Melamine Resin
- Melamine Foams
Global Melamine Market, By Application
- Laminates
- Wood Adhesives
- Surface Coatings
- Thermoset Plastics
Global Melamine Market, By End User
- Construction
- Chemical
- Textile
- Automotive
Global Melamine Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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