The Global Melamine Formaldehyde Market was valued at US$ 17.8 Bn in 2019 and expected to reach US$ 27.1 Bn by 2026, at CAGR of 5.39% during the forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Melamine Formaldehyde Market Dynamics
Melamine formaldehyde or Melamine resin (melamine) is a hard, thermosetting plastic material made from melamine and formaldehyde by polymerization. It is resistant to chemicals, moisture, heat, electricity, and scratching. Generally, Melamine formaldehyde resin is compared with urea-formaldehyde resin regarding its application and processing. It has some unique properties such as low density, thermal stability, high gloss, transparency, and lightfastness. Because of its unique properties, melamine-formaldehyde has found great industrial applications in fire retardants, surface coatings, plywood, particleboard, adhesives, moulding compounds, and laminates among others.
Global Melamine Formaldehyde Market Segment Analysis
An increase in demand for construction, furniture, packaging, automotive, and other end-user industries is fueling the growth of the global melamine formaldehyde market. The melamine formaldehyde market is also driven by the rising usage of resin in the production of laminates and adhesives. Properties such as thermal insulation and excellent chemical resistance make melamine-formaldehyde better in surface coatings and decorative laminates of automobile interiors in the automotive industry.
The driving factor of the market is the growing demand for melamine formaldehyde from the automotive industry. However, fluctuation in the cost of raw materials could hamper the market growth. Melamine formaldehyde has replaced urea-formaldehyde, creating another growth opportunity for this market. Further, Strict government regulations on raw material because of pollution hampers the market growth.
Global Melamine Formaldehyde Market Regional Insights
The Asia Pacific dominated the global market, owing to the increasing population and increasing demand from construction and automotive industries. North America has closely followed the Asia Pacific due to an increase in demand from the construction and coatings industry. The South American region is expected to grow rapidly over the forecast period. Africa is predicted to witness rapid growth over the next eight years owing to growing demand from the construction industry, coatings market, and furniture industry.
The report covers the total market for Melamine formaldehyde has been analyzed based on Porter’s five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Global Melamine Formaldehyde Market, Key Highlights:
• Global Melamine Formaldehyde Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Melamine Formaldehyde Market
• Global Melamine Formaldehyde Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Melamine Formaldehyde Market strategic analysis with respect to individual growth trends, future prospects along the contribution of various sub-market stakeholders have been considered under the scope of the study.
• Global Melamine Formaldehyde Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Melamine Formaldehyde Market are also profiled.
Scope of Melamine Formaldehyde Market: Inquire before buying
Global Melamine Formaldehyde Market, by Application
• Construction and Building
• Wood and Furniture
Global Melamine Formaldehyde Market, by Region
• North America
• Middle East & Africa
• South America
Global Melamine Formaldehyde Market Key Players:
• Hexza Corporation Berhad
• INEOS Group
• BASF SE
• OCI Nitrogen BV
• Qatar Melamine Company
• Chemisol Italia S.R.L.
• Chemiplastica SA
• Jiangsu Tianxin Chemical Co.Ltd.
• Chang Chun Group
• Mitsui Chemicals
• Ineos Melamines
• Chimica Pomponesco S.p.A
• DIC Corporation
• Allnex Belgium S.A.
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