Melamine is used to form melamine formaldehyde resin, which find many applications in our commonly used household products such as furniture, kitchen countertops & storage, bathroom cupboard, dinnerware, food storage containers, cars, and banknotes. The global melamine market is projected to witness steady demand during the forecast period 2017-2023.
Some of the key players operating in the global Melamine Market are Haohua Junhua Group Co., Ltd., OCI Nitrogen (Netherlands), BASF SE (Germany), Cornerstone Chemical Company (U.S.), Qatar Melamine Company (Qatar), Sichuan Golden Elephant Chemical (China), Mitsui Chemicals, Inc. (Japan), NISSAN CHEMICAL INDUSTRIES. LTD. (Japan), Methanol Holdings (Trinidad) Limited (U.S.), and Borealis AG (Austria).
The global melamine market is segmented by product type, application, end-use industry, and region.
On the basis of the product type, the global melamine market is segmented into melamine resin and melamine foams. Melamine resin is leading the global melamine market under product type in 2017 due to vast applications in laminates, wood adhesives, surface coatings, molded products, and flame retardants among other and is expected to continue dominating in the forecast period. However, growing concerns regarding the emission of formaldehyde from the various melamine formaldehyde resin products are projected to hamper market growth to some extent.
Melamine foams are projected to offer several growth opportunities to the melamine market. Melamine foams have the intrinsic properties of flame retardancy and offer a high capacity to absorb sound, which are also expected to drive their demand for manufacturing suspended baffles, buildings, metal ceiling panels, and acoustic panels.
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On the basis of the applications, the global melamine market is segmented into laminates, wood adhesion, surface coating, molded products, and flame retardant among others. Laminates are dominating the global melamine market in 2017 due to growing construction and renovation industry, especially in Asia Pacific, Europe, and the Middle East & Africa.
On the basis of the end-user industry, the global melamine market is categorized into construction, chemical, textile, automotive, and others. The construction industry is accounted to have a major market share of melamine and is expected to continue growing over the forecast period due to rapid urbanization, rising disposable income, and lifestyle changes. However, automotive, chemical, and textile industries are also expected to witness a steady growth over the forecast period.
The global melamine market is spanned across five regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific is dominating the regional landscape, followed by Europe and the Middle East & Africa. North American market is relatively mature and is expected to grow at a slow pace. Latin American market is expected to witness a sluggish growth.
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