NEW
YORK, June 18, 2024 /PRNewswire/ -- The global
melamine market size is estimated to grow by USD 378.5 million from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
3.83% during the forecast period. Increasing demand
from construction industry is driving market growth, with
a trend towards increased popularity of modular kitchens.
However, availability of substitutes poses a challenge.
Key market players include AIM Capital Ltd., BASF SE, Chemisol
Italia Srl, Cornerstone Chemical Co., Frati Luigi Spa, Grupa Azoty
SA, Gujarat State Fertilizers and Chemicals Ltd., Hexion Inc.,
Huaqiang Chemical Group Stock Co. Ltd., LRBG Chemicals Inc., MITSUI
and CO. LTD., Nissan Chemical Corp., OCI NV, OMV
Aktiengesellschaft, Prefere Resins Holding GmbH, Proman GmbH, Qatar
Fertiliser Co., Shandong Shuntian Chemical Group Co. Ltd., and
Xinji Jiuyuan Chemical Co. Ltd..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the snapshot
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Melamine Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.83%
|
Market growth
2024-2028
|
USD 378.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.64
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 46%
|
Key
countries
|
China, US, India,
Germany, and Japan
|
Key companies
profiled
|
AIM Capital Ltd., BASF
SE, Chemisol Italia Srl, Cornerstone Chemical Co., Frati Luigi Spa,
Grupa Azoty SA, Gujarat State Fertilizers and Chemicals Ltd.,
Hexion Inc., Huaqiang Chemical Group Stock Co. Ltd., LRBG Chemicals
Inc., MITSUI and CO. LTD., Nissan Chemical Corp., OCI NV, OMV
Aktiengesellschaft, Prefere Resins Holding GmbH, Proman GmbH, Qatar
Fertiliser Co., Shandong Shuntian Chemical Group Co. Ltd., and
Xinji Jiuyuan Chemical Co. Ltd.
|
Market Driver
The melamine market is experiencing growth due to the rising
demand for modular kitchens. Consumers are investing in these
modern kitchens for their convenience and improved aesthetics.
Decorative laminates, a key component of modular kitchens, are in
high demand. These laminates offer various patterns, designs, and
textures, as well as resistance to microbes, water, and
fingerprints. Innovations in decorative laminates, such as
Wilsonart's traceless laminate, are driving their use in modular
kitchens. As a result, the increasing popularity of modular
kitchens is expected to boost sales of decorative laminates and
support the global melamine market during the forecast
period.
The Melamine market has been experiencing significant growth in
various sectors. Demand for Melamine in the manufacturing industry
is on the rise due to its use in producing Formboards and
Particleboards. The use of Melamine in the production of Adhesives
and Coatings is also increasing. The global Melamine market is
driven by factors such as increasing demand from the construction
industry and the growing trend towards using eco-friendly and
sustainable building materials. Additionally, the market is
witnessing an increase in demand from the automotive industry due
to the use of Melamine in the production of dashboard covers and
other interior parts. The market is expected to continue growing in
the coming years due to these trends.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global melamine market encounters challenges from
substitutes like plastic laminates. These alternatives cover
particleboard, MDF, and plywood for cabinets and countertops.
Plastic laminates provide a wider range of colors and patterns,
making them popular for commercial cabinet exteriors.
Melamine-formaldehyde resins can be replaced with urea-formaldehyde
resins as adhesives and coating. Powder coating is another
alternative for melamine-formaldehyde. These substitutes may hinder
the market's growth during the forecast period.
- The Melamine market faces several challenges. Production costs
are a significant concern due to the high cost of raw materials
like melamine and formaldehyde. The market also grapples with
stringent regulations regarding the use of melamine in food and
beverage industries. Consumers demand safe and eco-friendly
products, which puts pressure on manufacturers to adopt sustainable
production methods. Additionally, increasing competition from
alternative materials like polyurethane and phenolic resins poses a
threat to market growth. The market also faces challenges in terms
of supply chain disruptions due to geopolitical tensions and
natural disasters. Overall, the Melamine market requires innovative
solutions to address these challenges and maintain its
competitiveness.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This melamine market report extensively covers market
segmentation by
- Application
- 1.1 Laminates
- 1.2 Adhesives resins
- 1.3 Coating resins
- 1.4 Others
- Type
- 2.1 Melamine resin
- 2.2 Melamine foam
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Laminates- The Melamine market is thriving,
with significant demand coming from various industries such as
construction and food processing. Melamine is a versatile chemical
used in the production of resins, laminates, and other industrial
applications. Its unique properties, including high heat resistance
and insulation, make it an essential component in numerous
industries. The market's growth can be attributed to the increasing
use of melamine in these sectors, driven by factors like
infrastructure development and population growth. Melamine's
affordability and effectiveness also contribute to its popularity.
Overall, the market is expected to continue expanding, offering
opportunities for manufacturers and investors alike.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Melamine Market encompasses the production, uses, and trade
of Melamine and its derived products. Melamine foam is a
significant application area, known for its fire-retardant
properties. In the tableware industry, Melamine powder is utilized
to manufacture Melamine plates, dishes, bowls, and cups, which are
popular for their durability and resistance to heat. Melamine
coatings are employed in various industries for their protective
and decorative functions. The Melamine industry's growth is driven
by increasing demand for these products, leading to a surge in
Melamine imports and exports. Prices for Melamine and its
derivatives fluctuate based on supply and demand dynamics.
Consumption patterns vary across regions, with some being major
importers and others significant exporters. The Melamine market is
a dynamic and evolving sector, with numerous suppliers and
exporters catering to the diverse needs of various industries.
Market Research Overview
The Melamine market refers to the global trade of Melamine, a
organic compound used primarily in the production of resins and
plastics. Its major applications include the manufacturing of
laminate flooring, melamine formaldehyde resins, and melamine-based
adhesives. The demand for Melamine is driven by the growing
construction industry and the increasing popularity of laminate
flooring as a cost-effective and durable alternative to traditional
flooring materials. Additionally, the use of Melamine in the
production of fire retardants and insulation materials is expected
to boost market growth. The market is also influenced by factors
such as raw material availability, production costs, and government
regulations. The Melamine market is expected to witness significant
growth in the coming years due to these factors and the increasing
demand for sustainable and cost-effective building materials.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Laminates
- Adhesives Resins
- Coating Resins
- Others
- Type
-
- Melamine Resin
- Melamine Foam
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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