The global melamine market size is expected to reach USD 3.44 billion by 2028 according to a new study by Polaris Market Research. The report “Melamine Market Share, Size, Trends, Industry Analysis Report By Type; By Application; By End-Use (Construction, Automotive, Chemical, Textiles, Others); By Regions, Segments & Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Melamine resins provide inherent advantages such as high-temperature stability thus allowing products to limit physical and chemical degradation even at extreme temperature flexibility, high bonding behavior which results in the product having excellent moisture resistance as well as chemical resistance thus resulting in high overall hardness, among others.
Due to the high nitrogen content in the product, it exhibits flame retardant properties as well. All these properties have resulted in the broadening of the application portfolio of the product thus resulting in the overall market demand.
The product can be defined as a valuable and the most sophisticated part of the overall nitrogen value chain. The product is usually processed as a resin and is used to manufacture items and goods that are used on a daily basis. The product consists of hydrogen, nitrogen, and carbon and is obtained by converting urea. The product finds wide applicability in the production of synthetic resins as well.
Industry participants are paying attention to activities such as chemical analyses, customer-centric product trials, overall product development cycles, after-sales service, process optimization as well as resin synthesis. This is done so as to cater to the ever-evolving customized requirements for resin. Asian countries such as Indonesia, Malaysia, and India are witnessing substantial market growth in demand and such markets are being targeted by industry participants to increase their revenue generation.
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The product in the construction industry is utilized in products such as kitchen cabinets, countertops, walls, flooring, and furniture. Laminates manufactured by using the product are extensively used in the construction industry. The global construction industry has expanded rapidly with growth opportunities in commercial infrastructure, residential, and non-residential sectors in almost every part of the world thus fueling the overall industry growth.
Another factor boosting the prospects of this industry is the increasing trend of using durable and high-strength materials in the construction industry. The stringent regulations implemented by various regulatory bodies to reduce the carbon footprint and improve energy efficiency in construction sector has prompted the emergence of this trend. Industry participants are therefore required to track such trends and plan their strategies accordingly.
The Asia Pacific dominated the industry in 2020 and is expected to maintain its dominance over the forecast period due to the rising construction activities along with growing demand for wood adhesives, paints, coatings, and laminates, in emerging countries such as India and China.
Major industry players operating in this industry include BASF SE, OCI N.V., Borealis AG, Qatar Melamine Co, Sichuan Golden Elephant Chemical Co., Allnex Belgium S.A., Ineos Melamines., Chemiplastica SPA, Haohua Junhua Group Co., Ltd., Nissan Chemical Industries. Ltd. Cornerstone Chemical Company, and others.
Polaris Market research has segmented the melamine market report on the basis of type, application, end-use, and region:
Melamine Type Outlook (Volume – Kilotons; Revenue – USD Million, 2016 – 2028)
- Melamine Resin
- Melamine Foam
Melamine Application Outlook (Volume – Kilotons; Revenue – USD Million, 2016 – 2028)
- Wood Adhesives
- Molding Compounds
- Paints & Coatings
Melamine End-Use Outlook (Volume – Kilotons; Revenue – USD Million, 2016 – 2028)
Melamine Regional Outlook (Volume – Kilotons; Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa