Ghaziabad Online

Melamine Market Size Forecast to Reach $2.6 Billion by 2026

 Breaking News
  • No posts were found

Melamine Market Size Forecast to Reach $2.6 Billion by 2026

April 10
01:56 2021
Melamine Market Size Forecast to Reach $2.6 Billion by 2026

Melamine Market
Increasing Use of Melamine Resin for the Production of Wood Adhesive and Application in Bonding Medium Density Fiberboard and Hardwood With Laminates Are Substantially Contributing to the Melamine Market Growth.

Melamine Market size is forecast to reach $2.6 billion by 2026, after growing at a CAGR of 4.2% during 2021-2026. Globally, the rising demand for melamine owing to its durable, hard, glossy, and strong resistance to heat, moisture, stain, and wear properties, from end-use industries such as building and construction, automotive, food and beverage, and textile applications is estimated to drive the market growth. Increasing use of melamine resin for the production of wood adhesive and application in bonding medium density fiberboard and hardwood with laminates are substantially contributing to the melamine market growth. Moreover, the increasing usage of melamine resins and melamine foams in high resistance concrete, thermoset plastics, and carbon nanotubes is estimated to drive the melamine industry growth in the forecast era.

Impact of Covid-19

The emergence of coronavirus disease (COVID-19) and consequent lockdowns by governments has halted the operation of major end-use industries in several countries in the year 2020. Moreover considering the new normal conditions, it is presumed that the melamine market will return to the normal situation and enhance the market growth.

Melamine Market Segment Analysis – By Form

Melamine resin held the largest share in the melamine market in 2020. Due to its abrasion-resistant, hard, rigid material properties, it is suitable for use in various applications to avoid water contact with the product. Melamine resin is highly resistant to creep and possesses excellent dimensional stability. The superior electrical resistance and self-extinguishing property of the resin improves the overall efficiency, thereby boosting the demand. Owing to such properties it is also used in the manufacture of cabinets and furniture. Thus, with the increasing demand for melamine resin for several applications, the market is estimated to experience growth in the forecast period.

Melamine Market Segment Analysis – By Application

Laminates held the largest share in the melamine market in 2020 and is forecast to rise at a CAGR of 5.1%. Melamine resins are the polymers of choice that are used in the decorative or outer layer of the laminates. Laminates are commonly used in housing, construction, and electrical applications and thus have a beneficial influence on the development of the global demand for melamine market. For decoration and security purposes, laminates are highly acceptable. Melamine laminated sheet is in a multilayer structure, including decoration paper, surface paper, and bottom paper. The surface paper is designed to cover the decorative paper’s patterns and designs, making the surface brighter, heavier, and harder, and offers greater wear and corrosion resistance. The laminated sheet of melamine has excellent heat-resistant qualities since it is made of plastic. At a temperature of 100 ° C, it will not be softened, broken, or bubbled. It is also resistant to fire and ironing. Thus, the rising demand for melamine in the production of laminate is expected to drive the market growth in the forecast period.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=510786

Report Price: $ 5900 (Single User License)

Melamine Market Segment Analysis – By End-Use Industry

Building and construction sector held the largest share of more than 30% in the melamine market in 2020. Laminates produced using melamine are commonly used in the building and construction industry. Melamine is used in the building industry in items such as kitchen cabinets, countertops, partitions, flooring and furniture. With development opportunities in commercial infrastructure, residential and non-residential sectors in almost every part of the world, the global construction industry has expanded exponentially, fueling overall growth in the market for melamine. In 2019, Korea’s construction-related industry, including civil engineering services and public and private infrastructure, generated estimated revenues of $148 billion (KRW166 trillion). Revenue segments include $58.4 billion for residential development, $45.4 billion for commercial and industrial facilities and $44.2 billion for civil engineering services according to the Construction Association of Korea (CAK). The increasing growth of melamine resins and melamine foams in the building and construction industry is estimated to drive the melamine market growth in the predicted period.

Melamine Market Segment Analysis – By Geography

The Asia Pacific region held the largest share of more than 42% in the melamine market in 2020. Globally, demand for melamine is dominated by the Asia-Pacific region due to the rising building and construction, automotive, and textile industries. Asia Pacific constitutes a major share of the global melamine market, due to easy availability of raw materials at competitive prices in the region. Rapid growth of the building and construction and automotive industry in China, India, and South Korea is projected to propel the demand for melamine in the near future. According to the International Trade Administration, in China, the construction industry is expected to rise at an annual rate of 5% in real terms between 2019 and 2023. Thus, the demand for the melamine market is therefore anticipated to increase in the forecast period because of the mentioned factors.

Melamine Market Drivers

Growing Demand for Melamine from the Automotive Sector will Drive the Market Growth

Melamine resins are fast-curing, can withstand high temperatures and have excellent chemical resistance. These are used for the manufacture of decorative laminates for car interiors and for the surface coating of automobiles. Melamine is a heat-reactive resin added to coatings to increase mar resistance and improve weather ability. Additionally, melamine resins coatings help to reduce solvent emissions in automotive and thus have a positive impact on the environment. Rising demand for melamine foam owing to its lightweight material suitable for components requiring high-temperature thermal insulation and sound absorption will also drive the market growth. With the growing automotive industry in various regions, the demand for melamine is anticipated to rise in the forecast period. According to the India Brand Equity Foundation, domestic automotive demand rose to 2.3% CAGR during FY16-20, with 26.36 million vehicles being produced in the country in FY20.

Increasing Usage of Melamine Fibers in Various Applications is Driving the Market Growth

Melamine fibers are synthetic fibers of which the fibre-forming agent is a synthetic polymer consisting of at least 50% by weight of a cross-linked melamine polymer. Melamine fibers have poor thermal conductivity, outstanding flame resistance, are self-extinguishing and demonstrate excellent dimensional and thermal stability at a continuous working temperature of approximately 400°F (200°C). Such properties make melamine fibers a popular alternative for flame-resistant fabrics. Melamine foam is suitable for insulation in buildings with distinctive pore structures. In addition, melamine fibers may be used for fire-blocking materials such as aircraft seats and upholstery in high-risk professions, protective gear and appliances for firefighters, mattresses and home furnishings in high-risk occupations. Other future applications include heat resistant gloves, tire sealants, thermal insulation liners, speciality flame resistant and high-capacity and efficient electrical papers and filter media’s. Thus, the rising demand for melamine fibers is expected to drive the melamine market growth during the forecast era.

Melamine Market Challenges

High Toxicity Levels of Melamine will Hamper the Market Growth

Ingestion of melamine may lead to bladder or kidney stones, or reproductive damage, which can lead to bladder cancer. As per the guidance provided by the U.S. Food and Drug Administration (FDA) scientists, once melamine and cyanuric acid are absorbed into the bloodstream, aggregate and interact in urine-filled renal tubules, it thereby crystallizes and form vast amounts of round, yellow crystals, which in turn block and destroy the renal cells that line the channels, causing kidney failure. Also, the director of Food Safety of the World Health Organization also calculated that the amount of melamine a person may have every day without incurring a greater risk to health, TDI, was 0.2 mg per kilogram body weight. Thus, the high toxic level of melamine could further create hurdles in the growth of the melamine market over the forecast period.

Melamine Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the melamine market. Major players in the melamine market are Borealis AG, OCI NV, Grupa Azoty Zaklady Azotowe Pulawy S.A., INEOS Group, BASF SE, Cornerstone Chemical Company, Qatar Melamine Company, Mitsui Chemicals, Inc., NISSAN CHEMICAL INDUSTRIES. LTD., and Sichuan Chemical Works Group Ltd (SCWG) among others.

Acquisitions/Technology Launches

In April 2019, Prefered Resins and Silverfleet Capital announced that the Fund II portfolio company, Prefere Resins Holding GmbH, acquired INEOS melamines & paraform business, which was part of the INEOS Enterprises portfolio.

Key Takeaways

Increasing residential and renovation activities are projected to see strong demand for laminate-based furniture and storage cabinets, and wood adhesives, which is further anticipated to drive the market growth.

Rising usage of melamine resins in a number of textile applications to improve the wrinkle resistance in cotton and cotton-synthetic blends is estimated to boost the market for melamine in the upcoming years.

Melamine foams exhibit a high sound absorption potential and possess an inherent flame retardant properties. As a result, the foams are used in buildings, acoustic panels, suspension blankets and ceiling panels.

Growing public concerns about the formaldehyde emission of melamine-based thermoset plastics, such as food containers and dinnerware, are likely to restrict the development of the melamine market.

Related Reports :

A. Amino Resin Market

https://www.industryarc.com/Report/15394/amino-resin-market.html

B. Thermoset Molding Compound Market

https://www.industryarc.com/Research/Thermoset-Molding-Compound-Market-Research-501485

For more Chemicals and Materials Market reports, Please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to s[email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: 1-614-588-8538 (Ext: 101)
Address:Madhapur
City: Hyderabad
Country: India
Website: http://industryarc.com/


Warning: count(): Parameter must be an array or an object that implements Countable in /home/ghaziabadonline/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share