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Global Melamine Formaldehyde Market 2019: By Type, Sales, Demand, Business Development Analysis, Top Key Players Are BASF SE, Huntsman International LLC, Hexion, Mitsui Chemicals, Inc, Allnex Group, INEOS Melamines.
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The automotive segment is also predicted to witness a higher CAGR owing to growing substitution of heavy materials by lighter polymers, during the forecast period, 2017-2023.
The market by type is further divided into methylated and non-methylated formaldehyde. Among these, Methylated Formaldehyde segment holds a major share in the market due to its growing use in coating, crosslinking, textile, nonwoven and papermaking applications.
A solid thermosetting polymer which is formed by the condensation polymerization is called melamine formaldehyde. It cannot be restructured or remolded. It is mainly known for excellent UV resistance, corrosion and thermal resistance, fire retardant, and durable properties. It is used to provide the flexibility, comfort and biocompatibility nature in the product.
Market Segmentation
The global melamine formaldehyde market is segregated into the type and end-use.
On the basis of Type, the market is further categorized into methylated and non-methylated formaldehydes. The most widely used segment in the market is methylated formaldehyde. It is predicted that the growing use of methylated formaldehyde segment in coating, crosslinking, textile, nonwoven and papermaking applications is projected to drive the market in the couple of years.
The non-methylated formaldehydes segment is estimated to witness the higher CAGR on account of its growing use in coatings, textiles and other industries.
On the basis of application, the market is further sub-divided into automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others. Among these, construction and building hold the majority of the market due to extensive use of melamine resins in tiles, flooring, countertops, molding, and others.
The automotive segment is anticipated to witness a higher growth in the market due to growing substitution of heavy metals by light weight polymers. The endless use of melamine resins in packaging applications such as chopsticks, dinnerware, and containers are expected to drive the market in the coming years.
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Segmental Analysis
The global melamine formaldehyde market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to rising demand for melamine formaldehydes in various applications. Due to these factors, China, Japan and India are the major players in this region.
The North American region is estimated to witness a higher CAGR in countries such as U.S.A, Canada and Mexico owing to growing demand for melamine formaldehydes in coatings, textiles, paper, and plywood sectors. A rapid development is observed in the European region owing to the extensive use of melamine formaldehydes in construction and buildings, automotive, and others.
The Middle East & Africa, and Latin America regions are estimated to observe a significant growth in the market due to the rapid production of melamine formaldehydes in construction, oil & gas, chemical, and other industries.
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Competitive Analysis
Some of the major players functioning in the global melamine formaldehyde market are
BASF SE (Germany)
Huntsman International LLC (the U.S.)
Hexion (the U.S.)
Mitsui Chemicals, Inc (Japan)
Allnex group (Germany.)
INEOS Melamines (the U.K.)
Chemiplastica SPA (Italy)
Hexza Corporation Berhad (Malaysia)
Chemisol Italia s.r.l. (Italy)
Borealis Agrolinz Melamine GmbH (Austria)
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