Global Melamine Formaldehyde Market Is Projected To Grow At US$ 1.21 Billion By 2032

As per a new report by Fact.MR, a market research and competitive intelligence provider, the global melamine formaldehyde market is currently valued at US$ 645.1 million and projected to expand at a high CAGR of 6.5% over the forecast period (2022 to 2032). The market registered 4.8% CAGR between 2017 and 2021.

The paints and coatings industry's rising need for melamine formaldehyde is likely to provide profitable opportunities for market players. The market's rise may also be ascribed to the paint and coatings industry's rapid expansion, which is being fuelled by rising building activity around the world. Furthermore, the increased need for high-performance coatings and paints is expected to boost melamine formaldehyde market growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7499

Over the forecast period, rising consumption of melamine formaldehyde in the automotive industry is predicted to provide significant market opportunities. Ornamental laminates for car interiors, lightweight polyurethane foam for automobile door insulation, and vulcanised rubber tyres are all made with it. As a result, new applications of melamine formaldehyde in the automotive industry are expected to boost market growth over the coming years.

Which Market Changes are Expected to Benefit Melamine Formaldehyde Suppliers?

"High Consumption of Melamine Formaldehyde in Construction Industry as Concrete Plasticizer"

The construction industry's rapid expansion is a major driver boosting the melamine formaldehyde market growth. It is employed in the construction of high-rise skyscrapers and other long-lasting constructions as a concrete plasticizer.

When combined with wood waste products, which are frequently utilised in the construction industry, helps to meet green building criteria. As a result, an increase in the construction industry is likely to boost melamine formaldehyde market growth.

"High Demand for Melamine-formaldehyde Resins from Furniture Industry"

The wood and furniture sector is a key consumer of melamine-formaldehyde resins, and the worldwide melamine-formaldehyde resins market is likely to rise in tandem with that of the wood and furniture industry.

Over the forecast years, the market is likely to be driven by rising demand and applications for melamine formaldehyde. Furthermore, technical advances in this area, as well as increased usage in the packaging industry, are expected to enhance the market in the future years.

𝐒𝐡𝐚𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬- https://www.factmr.com/connectus/sample?flag=S&rep_id=7499

Key Segments Covered in the Melamine Formaldehyde Industry Survey

• Melamine Formaldehyde Market by Form :

o Liquid Melamine Formaldehyde
o Powder Melamine Formaldehyde

Melamine Formaldehyde Market by End Use :

o Laminates
o Wood Adhesives
o Molding Powders
o Coatings
o Other End Uses

Competitive Landscape

The melamine formaldehyde market is fairly fragmented, with both, large and small competitors participating in this space.
To improve their position in this market, major players are using a variety of organic and inorganic growth tactics such as mergers and acquisitions, new product development, investments, collaborations, partnerships, alliances, and others.

𝐆𝐞𝐭 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/checkout/7499

Key players in the Melamine Formaldehyde Market

• BASF SE
• Hexion
• Arclin Inc.
• Prefere Resins Holding GmbH
• Georgia Pacific Chemicals
• Qatar Melamine Company
• Chimica Pomponesco S.p.A
• Chemplastica
• Allnex Belgium S.A.

Key Takeaways from Melamine Formaldehyde Market Study

• Wood adhesives are estimated to account for a market share of 23.3% in 2022, accounting for a sales value of US$ 150.4 million.
• In terms of geography, North American consumers are predicted to spend the most on melamine formaldehyde products, and the market is expected to hold around 31.4% of the global market share in 2022.
• Key market players are expected to focus on collaborations & partnerships to enhance their market stance.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.globenewswire.com/en/news-release/2022/09/26/2522615/0/en/Third-Generation-Advanced-High-Strength-Steel-Opening-Plethora-of-Opportunities-for-Manufacturers-Says-Fact-MR.html

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.