The paints and coatings industry's growing need for melamine formaldehyde is likely to provide profitable prospects. The market's rise is also linked to the paint and coatings industry's rapid expansion, which is fueled by rising building activity throughout the world. Furthermore, the increased need for high-performance paints and coatings is expected to boost the melamine formaldehyde market.
Over the projected period, rising demand for Melamine Formaldehyde from the automotive industry is likely to provide significant market opportunities. They're utilised to make lightweight polyurethane foams for automotive door insulation, car interior ornamental laminates, and vulcanised rubber tyres. As a result, new applications of melamine-formaldehyde in the automotive industry are expected to boost market growth throughout the forecast period.
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