Melamine Formaldehyde Market in LAMEA to see 7.7% CAGR over the coming year

Melamine formaldehyde is a thermal resistant polymer used in the manufacturing of laminates, decorative panels, wood adhesives, molding compounds, and as cross linking agent in surface coatings. The market is segmented based on applications and geography. The raw material for melamine formaldehyde comprise melamine, formaldehyde, alkalis, tetrahydrofuran, and other chemicals.

Asia-Pacific accounted for about half of the total melamine formaldehyde market, both in terms of revenue and volume and is expected to maintain its dominance during the forecast period. The upsurge in automotive demand and the massive growth in construction industry specifically in India, China, and other emerging countries employing the products of melamine formaldehyde have contributed significantly to the market growth.

Download PDF Sample: https://www.alliedmarketresearch.com/request-sample/265

Key Findings of Melamine Formaldehyde Market:

1. Surface coating is anticipated to be the fastest growing application segment in terms of value, growing at a CAGR of 7.7%, during 20162022.
2. Asia-Pacific is expected to dominate the global melamine formaldehyde market in terms of value and volume.
3. LAMEA is the fastest growing region in terms of revenue with CAGR of 7.7% during the forecast period.
4. In 2015, the others application segment comprising floor tiles, overlay materials, and particleboards occupied the third largest market share, in terms of revenue.
5. China has the highest demand and supply for melamine formaldehyde.

Major companies profiled in the report includes 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.

In 2015, the laminates segment held more than two-fifths share and is expected to continue this trend during the forecast period. This is due to the extensive need for protection of furniture from severe environmental conditions that is provided by melamine formaldehyde coating, due to its excellent heat and thermal resistance.
Fluctuation in prices of raw material and government regulations related to melamine & formaldehyde could hamper the market growth. Moreover, surge in demand for melamine formaldehyde in the automotive industry and replacement of urea formaldehyde in various products could create growth opportunities for the market players. In 2015, the wood adhesives segment of application accounted for second largest share of this market, in terms of revenue. However, the surface coating segment is anticipated to grow at the highest CAGR, in terms of value and volume.

Request Inquiry for Purchas:
alliedmarketresearch.com/purchase-enquiry/265

Upsurge in furniture and construction industries, increase in disposable income in the emerging economies, and increased focus of government bodies on controlled formaldehyde emission are the prime factors that propel the demand for melamine formaldehyde. However, availability of substitutes at lesser cost have the potential to hamper the market growth during the forecast period.”, according to Eswara Prasad, Team Lead, Chemical & Materials at Allied Market Research.

Melamine formaldehyde market stood at $410 million in 2015 and is expected to reach $655 million by 2022, registering a CAGR of 6.9% during 2016-2022, according to a new report published by Allied Market Research. Laminates dominated the market and is expected to continue this trend during the forecast period.

Get More Trending News:

https://www.openpr.com/news/2303470/europe-pentane-market-size-share-study-growth-trends

https://www.openpr.com/news/2303511/alcohol-enzymes-market-is-driven-by-rising-demand-from

https://www.openpr.com/news/2303540/multi-metal-aluminum-sandwich-panels-market-growth-will-be

About Us:

Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.