Melamine Market is anticipated to Grow at a Significant Rate | TMR Study

Global Melamine Market: Highlights

The major applications of melamine include construction/remodeling, original equipment manufacturer (OEM) and automotive production. The industry is greatly influenced by general economic condition of individual country.
The global melamine market is projected to grow at a CAGR of more than 4% between 2019 and 2027 and likely to cross US$ 2.8 Bn by 2027. Major demand from laminates used in furniture, kitchen counter tops, cabinets, floors, etc. are anticipated to drive the market.

Read report Overview-

https://www.transparencymarketresearch.com/melamine-market.html

Melamine is a white crystalline powder with 99.8% purity and is commonly used in the production of melamine-formaldehyde (MF) resins. Melamine-based resins are moisture-resistant and hard.

Rapid urbanization, increase in disposable income, and rise in standard of living are key factors contributing to robust growth of the building and construction industry. This serves as one of the key drivers for the melamine market.
Global Melamine Market: Laminates to Lead Melamine Market

MF resins are widely employed in the manufacture of laminated wooden panels. These resins exhibit strong resistance to heat, stain, abrasion, and chemical reaction; thus, these are extensively employed in construction applications.
Laminates application segment accounted for more than 50% share in global melamine market in 2018. The segment is followed by adhesives & sealants owing to high demand of melamine based wood based adhesives found in various wood products such as particleboard, plywood and medium-density fiberboard (MDF). These adhesives are known for its durability and moisture resistance.

Melamine-based adhesives are largely used in hotline fixing of car seats, panel laminations, headlamps, and other interior component assemblies in the automotive industry.

Request PDF Brochure –

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1389

Global Melamine Market: Key Challenges Faced by Industry

Urea is the key feedstock used in the manufacture of melamine. Of late, the prices of urea have been subject to a high degree of volatility owing to wide fluctuations in the short term supply and demand. The supply side fluctuation is ascribed to unstable oil & gas prices, which affect the total production cost and affecting the overall melamine market growth.

Increasing public awareness and rising demand for non-hazardous products are some of the key factors hampering the melamine market for molding compounds application. However, continuous efforts to reduce formaldehyde emissions across the globe is likely to benefit melamine market as ‘low-formaldehyde’ boards use high amount of melamine based adhesives indirectly contributing to the growth of melamine market.

REQUEST FOR COVID19 IMPACT ANALYSIS –

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1389

Global Melamine Market: Regional Highlights

In terms of volume, Asia Pacific accounted for more than 50% share in the global melamine market in 2018. The region is likely to remain the largest consumer by 2027. China is the largest manufacturer and consumer of melamine along with India, Indonesia, New Zealand, and Malaysia in Asia Pacific. It is also the largest exporter and export melamine to the U.S. and countries in Western Europe.

Demand from China is largely dominated by domestic real estate market. It is mainly consumed in laminates and wood panels which has high demand in domestic China market and for exports.

Europe accounted for significant share in global melamine market in 2018. Increased production of laminates and wood adhesives in the region is likely to boost melamine consumption over the forecast period.

Key Developments in Global Melamine Market

In December 2019, OCI N.V. Dakota Gasification Company and Dyno Nobel Enter into Exclusive Marketing Agreement for DEF, Urea Liquor and Automotive Grade Urea in North America.
In January 2019, 1st batch of melamine was manufactured using Casale LEM process, basic design and and proprietary equipment. In 2015, GSFC and Casale has signed a contract for new 40 kilo tons plant.

Buy Now :

https://www.transparencymarketresearch.com/checkout.php?rep_id=1389

In April 2017, Japan’s Mitsui Chemicals restarted its melamine production plant which was shut down for due to technical issue.

Contact

Transparency Market Research,

90 Sate Street, Suite 700,

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.