Melamine Based Adhesive Market may grow at double digit CAGR over the forecast period, 2017–2023

Market Overview:
Melamine Adhesives are synthesized by combination of melamine with formaldehyde. Characteristic features exhibited by melamine adhesives such as high moisture durability, greater flexibility, and fire & heat resistance make it more preferable over its counterparts. In addition to this, relatively low cost of the melamine based adhesives increases its competitiveness in the adhesives market. Melamine Based Adhesives find their applications in vast number of industries, wherein the key industries are building & construction, automotive, household, packaging, and others. Among these, the building & construction industry is driving the growth of market due to rising demand of adhesives for making construction materials. During the forecast period the demand from construction industry estimated to head north. Apart from building & construction industry, global automotive industry production is growing at Y-o-Y of 9%, fueled by rising light weight vehicle production. The materials used in complex and high risk industrial applications such as high pressure and temperature processes are preferably bound together by Melamine Based Adhesives. Collectively, considering the trend it has been estimated that the Global Melamine Based Adhesive Market may grow at double digit CAGR over the forecast period, 2017–2023.

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Market Segmentation:
The Global Melamine Based Adhesive Market is segmented on the basis of type, end use industries, and region. Based on type the market is divided into melamine formaldehyde, urea-melamine, and melamine urea formaldehyde. Melamine formaldehyde is holding a major share in terms of demand among the others, on account of its application in construction industry. Applications of melamine formaldehyde include its use as a key constituent in manufacturing high pressure laminates such as Formica and Arborite. Apart from this, the use of melamine in making the kitchenware and utensils is driving the demand of Melamine Based Adhesives. Following melamine formaldehyde, urea-melamine is majorly used melamine based adhesive. Its uses can be found in bonding the materials complex industrial processes such as warm water resistant grade panel and also moisture resistant grade panel. The low cost of raw material for synthesizing urea-melamine adhesive is an important factor propelling its demand over the others. Lastly, the melamine urea formaldehyde is used in making laminates such as manufacturing of flooring tiles from wood and bamboo, finger jointing of waste timber in saw mills. In addition to this, there is an increasing demand of melamine urea formaldehyde in making aesthetic wooden items, and in polymeric and glass glazing is expected to fuel growth of the Global Melamine Based Adhesives.

On the basis of end use industries the Global Melamine Market is segmented into building & construction, automotive, household, paper & packaging, and others. Among them, building & construction industry is pulling maximum demand of melamine based adhesives owing to an increasing public as well as private investment in this industry. In addition to this, the developing countries are rapidly taking up the infrastructural projects for complete economic development which is anticipated to boost the growth of overall Melamine Based Adhesives Market. The Melamine Based Adhesives foresee growth in demand from automotive industry for bonding the light polymeric materials used in automotive parts. Moreover, the use of melamine based adhesives is increasing for making utensils and other kitchenware. In coming years, the cost intensive stainless steel utensils & kitchenware are anticipated to be replaced by those made from other light weight polymer based materials. This is projected to propel the growth of Global Melamine Based Adhesives Market. The penetration of Melamine Based adhesives in paper & packaging industry has witnessed steady rise in the past years, which is estimated to rise further throughout the forecast period. Their uses in paper & packaging can be found in aerial packaging, vacuum packaging, and hot packaging where it is necessary for adhesive to prevent moisture & gas, and withstand heat. The culture of food on the go is poised to increasing the demand of Melamine Based Adhesives in packaging of ready to eat food.

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Regional Analysis:
The key regions in the Global Melamine Based Adhesives are Asia Pacific, Europe, and North America. Other regions include Latin America and Middle East & Africa. Asia Pacific is the largest market in the Global Melamine Based Adhesives, holding major share of the overall market. It account for 45% of total share in the global melamine based adhesive market. China, India, and Japan are the major market in this region due to the presence of major end use industries such as construction and automobile. Europe is following Asia Pacific in term of the market size held by the region. Countries namely, Germany, France, U.K., and Italy are majorly contributing the regional market. The established automobile industry is evolving with an advent of light and electric vehicles. Growing popularity of light weight and electric vehicles to reduce the carbon emission is the key factor favoring the market of Melamine Based Adhesives. North America is closely following Europe in terms of growth rate. The important markets in this region are U.S, Mexico, and Canada. The demand of Melamine Based Adhesives is driven mainly by automotive industry. Other regions are Latin America and Middle East & Africa, in which Latin America is anticipated to grow at higher CAGR on account of emerging end use industries. Middle East & Africa is expected to join the stream with leading regions in the Global Melamine Based Adhesives due to greater investment potential.

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This release was published on openPR.