Melamine Market is estimated to be US$ 11.89 million by 2030 with a CAGR of 5.2% during the forecast period 2030
Melamine is best for kitchen ware like handling hot soups, dinner sets, food pans, etc. Melamine are used in kitchen utensils because of its thermosetting and hard material, stain resistant, and easy to clean. Melamine coating from outer surface of utensils prevents from damage. As melamine are good conductor of heat they does not melt from the surface of utensils while heating. Melamine utensils can be used in everyday life for serving food. Melamine is hard, durable and versatile material. Melamine are heat resistant and can be used in floor tiles as it can tolerate heat which is better than other plastics. Melamine foam is used as cleaning products, sound proofing material and as insulation. Melamine magic eraser sponge has incredible uses like in removing tarnish from silver, polish gold jewelry, remove molds from plastics, remove marks on walls, removing stains on purses, chairs, leather seats, cleaning refrigerator, keyboard, mouse, removing food stains from plastic food containers, cleaning tiles and gout, tires, grims, oven doors, removing hair dye from floors and countertops, cleaning collectibles and antiques, etc. Wide variety of applications has enhanced the growth of the Melamine in the market. Global Melamine Market size accounted for US$ 7.83 billion in 2020 and is estimated to be US$ 11.89 billion by 2030 and is anticipated to register a CAGR of 5.2%.
The report “Global Melamine Market, By Type (Melamine Foam, Melamine Resin, and Others), By Application (Decorative Laminates, Construction, Kitchenware Products, Electrical Parts, Floor Tiles, Household Goods, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
· In 2022, the Eurotecnica has bagged the contract for Melamine Plant in China. Eurotecnica, the technology division of the Proman family of companies announced that it has bagged the contract from Xinji Energy Chemical Co. Ltd., for the construction of high pressure melamine plant with the capacity of 1,20,000 tons per year which will help in rise in the total licensed nameplate capacity with more than 1 million ton per year and about 26 plants globally.
· In 2022, the PETRONAS Chemicals Group Berhad (PCG) had launched the Melamine plant project in vicinity of PETRONAS Chemicals Fertilizer Kedah Sdn Bhd (PC FK). This project will help in strengthening the area as chemical producing zone in Asia-Pacific region.
Analyst View:
The excellent properties like heat, moisture, stain resistant, stiff, shiny, long-lasting properties the demand for melamine is increasing. Increase in urbanization, industries like textile, automotive, electronic, construction and building has given rise in use of melamine which has fueled the growth of the market. Rise in demand for decorative laminates in houses are becoming boosts to the melamine market. However, wide variety of applications in various industries and rise in use of laminates in houses is expected to give the boosts to the target market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
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Key Market Insights from the report:
Global Melamine Market size accounted for US$ 7.83 billion in 2020 and is estimated to be US$ 11.89 billion by 2030 and is anticipated to register a CAGR of 5.2%.The Melamine Market is segmented based on Type, Application and Region.
· Based on Type, Global Melamine Market is segmented into Melamine Foam, Melamine Resin, and others.
· Based on Application, Global Melamine Market is segmented into Decorative Laminates, Construction, Kitchenware Products, Electrical Parts, Floor Tiles, Household Goods, and others.
· By Region, the Global Melamine Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Global Melamine Market:
The prominent players operating in the Global Melamine Market includes, Sichuan Golden Elephant Chemical, Nissan Chemical Industries, BASF SE, Mitsui Chemicals Inc., Qatar Melamine Company, OCI Nitrogen, Cornerstone Chemical Company, Borealis AG, Haohua Junhua Group Co. Ltd., Methanol Holdings, Luxi Chemical, Henan Zhongyuan Dahua Group, Chengdu Yulong Chemical, Sichuan Chemical works, Xinji Jiuyuan Chemical Co. Ltd., and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
· Explains an overview of the product portfolio, including product development, planning, and positioning
· Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
· Detailed analysis of the market revenue over the forecasted period.
· Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
· Study on the segments that are anticipated to dominate the market.
· Study on the regional analysis that is expected to register the highest growth over the forecast period
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