Melamine Formaldehyde Market Overview:
The high demand for melamine formaldehyde in construction, automotive, and furniture industries is anticipated to drive the global melamine formaldehyde 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. Melting and remolding is not possible, once it has undergone initial chemical change during processing. The main features of the plastic are its hardness, moisture resistance, thermal resistance, weather protection, and others.
Furthermore, increase in demand for construction, furniture, packaging, automotive, and other end user industries in China fuel the growth of global melamine formaldehyde market.
By geography, the melamine formaldehyde 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 the melamine formaldehyde market 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.
Key Benefits of the Melamine Formaldehyde Market Report:
- It provides an extensive analysis of the factors that drive and restrict the market growth
- It elucidates market projections and impacting factors, during the period, 2014‐ 2022
- It highlights quantitative and qualitative trends to assist the stakeholders understand the market scenario
- It offers an in-depth analysis of the key segments of the market to demonstrate the consumption of melamine formaldehyde in different applications across various end user industries
- It includes competitive intelligence to highlight 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