Global Melamine Market: Highlights
· The majorapplications of melamine include construction/remodeling, original equipmentmanufacturer (OEM) and automotive production. The industry is greatlyinfluenced by general economic condition of individual country.
· Theglobal melamine market is projected to grow at a CAGR of morethan 4% between 2019 and 2027 andlikely to cross US$ 2.8 Bn by 2027. Majordemand from laminates used in furniture, kitchen counter tops, cabinets,floors, etc. are anticipated to drive the market.
· Melamineis a white crystalline powder with 99.8% purity and iscommonly used in the production of melamine-formaldehyde (MF) resins.Melamine-based resins are moisture-resistant and hard.
· Rapidurbanization, increase in disposable income, and rise in standard of living arekey factors contributing to robust growth of the building and construction industry.This serves as one of the key drivers for the melamine market.
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Global Melamine Market: Laminates to Lead MelamineMarket
· MF resinsare widely employed in the manufacture of laminated wooden panels. These resinsexhibit strong resistance to heat, stain, abrasion, and chemical reaction;thus, these are extensively employed in construction applications.
· Laminatesapplication segment accounted for more than 50% share inglobal melamine market in 2018. The segment is followed byadhesives & sealants owing to high demand of melamine based wood basedadhesives found in various wood products such as particleboard, plywood andmedium-density fiberboard (MDF). These adhesives are known for its durabilityand moisture resistance.
· Melamine-basedadhesives are largely used in hotline fixing of car seats, panel laminations,headlamps, and other interior component assemblies in the automotiveindustry.
Global Melamine Market: Key Challenges Faced byIndustry
· Urea isthe key feedstock used in the manufacture of melamine. Of late, the prices ofurea have been subject to a high degree of volatility owing to widefluctuations in the short term supply and demand. The supply side fluctuationis ascribed to unstable oil & gas prices, which affect the total productioncost and affecting the overall melamine market growth.
· Increasingpublic awareness and rising demand for non-hazardous products are some of thekey factors hampering the melamine market for molding compounds application.However, continuous efforts to reduce formaldehyde emissions across the globeis likely to benefit melamine market as ‘low-formaldehyde’ boards use highamount of melamine based adhesives indirectly contributing to the growth ofmelamine market.
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Global Melamine Market: Regional Highlights
· In termsof volume, Asia Pacific accounted for more than 50% share inthe global melamine market in 2018. The region is likely to remainthe largest consumer by 2027. China is the largestmanufacturer and consumer of melamine along with India, Indonesia, New Zealand,and Malaysia in Asia Pacific. It is also the largest exporter and exportmelamine to the U.S. and countries in Western Europe.
· Demandfrom China is largely dominated by domestic real estate market. It is mainlyconsumed in laminates and wood panels which has high demand in domestic Chinamarket and for exports.
· Europeaccounted for significant share in global melamine market in 2018. Increasedproduction of laminates and wood adhesives in the region is likely to boostmelamine consumption over the forecast period.
Key Developments in Global Melamine Market
· In December2019, OCI N.V. Dakota Gasification Company and Dyno Nobel Enter intoExclusive Marketing Agreement for DEF, Urea Liquor and Automotive Grade Urea inNorth America.
· In January2019, 1st batch of melamine wasmanufactured using Casale LEM process, basic design and and proprietaryequipment. In 2015, GSFC and Casale has signed a contract for new40 kilo tons plant.
· In April2017, Japan’s Mitsui Chemicals restarted its melamine production plantwhich was shut down for due to technical issue.
· In April2015, BASF SE announced expansion of its Basotect melamine resin foam rangewith the addition of Basotect B. This product is specifically designed forusage as a sound absorber for optimizing acoustics of rooms.
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Global Melamine Market: Competition Landscape
· Theglobal melamine market is fragmented. The top seven players in the globalmelamine market accounted for more than 35% share in 2018. Key playersoperating in the market include OCI N.V., Borealis AG, BASF SE, GrupaAzoty Zaklady Azotowe Pulawy S.A. (ZAP), Methanol Holdings (Trinidad) Limited(MHTL), Qatar Melamine Company (QMC), Cornerstone Chemical Company, and XinjiJiuyuan Chemical Co. Ltd.
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