Melamine Formaldehyde Market Overview:
The high demand for melamine formaldehyde in construction, automotive, and furniture industries is anticipated to drive the market during the forecast period. However, strict government regulations and fluctuation in cost of raw materials could hamper the market growth. Furthermore, melamine formaldehyde has replaced urea formaldehyde, creating another growth opportunity for this market.
Melamine formaldehyde or melamine resin is formed via polymerization reaction of melamine and formaldehyde. It is known as one of the hardest polymer as it is a thermosetting plastic having net-like structure of cross-linked polymers. Once it has undergone initial chemical change during processing, melting & remolding is not possible. The main features of the plastic are its hardness, moisture resistance, thermal resistance, weather protection, and others.
Furthermore, increased demand in China as well as construction, furniture, packaging, automotive, and other end user industries fuel the growth of global melamine formaldehyde market.
The report includes market segmentation on the basis of application and geography. By application, the melamine formaldehyde market is sub segmented into laminates, wood adhesives, molding compounds, surface coatings; and others including particleboards, overlay materials, and floor tiles. Among these, laminates segment dominated the market, followed by wood adhesives. However, the surface coating application has witnessed high growth rate due to augmentation in industries related to coatings.
By geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the global market, as it accounted for about half the share, both in terms of value and volume and is expected to continue this trend throughout the forecast period. This can be attributed to the high growth rate of end use industries. However, LAMEA was the fastest growing region with highest CAGR, in terms of both value and volume.
Asia-Pacific Melamine Formaldehyde Market Review
The global demand for melamine formaldehyde is dominated by Asia-Pacific due to rapid industrialization and urbanization in the region, especially in China. In addition, significant investments in construction and polymer industries has a positive impact on the market. Moreover, China dominated in terms of demand and commercialization of melamine formaldehyde & related products. Hexza Corporation, Mitsui Inc., Nissan Ltd., Allnex, and BASF SE are some of the major players of the region.
The key market players profiled in this report include Allnex Belgium SA/NV, BASF SE, Chemiplastica SA, Georgia-Pacific Chemicals LLC, Hexza Corporation Berhad, Hexion Inc., INEOS Group, Mitsui Chemicals Inc., Nissan Chemical Industries, Ltd., and Pacific Texchem Pvt. Ltd.
Other players in the value chain include Eternal Resin Co. Ltd., Dover Chemical Corporation, OCI Nitrogen B.V., Jiangsu Tianxin Chemical Co., Ltd., Arclin, Inc., Chimica Pomponesco S.p.A, Chang Chun Group, Chemisol Italia S.R.L., and DIC Corporation.
- The report provides an extensive analysis of the factors that drive and restrict the growth of the global melamine formaldehyde market.
- The market projections and impacting factors from 2014 to 2022 are elucidated in the report.
- The report highlights quantitative and qualitative trends to assist the stakeholders understand the market scenario.
- In-depth analysis of the key segments of the market demonstrate the consumption of melamine formaldehyde in different applications across various end user industries.
- Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.
Melamine Formaldehyde Market Key Segments
- Wood Adhesives
- Molding Compounds
- Surface Coatings
- North America
- Rest of the Europe
- Rest of the Asia-Pacific
- South Africa
- Rest of the LAMEA