Global MelamineMarket: Highlights
· The major applications of melamine include construction/remodeling,original equipment manufacturer (OEM) and automotive production. The industryis greatly influenced by general economic condition of individual country.
· The global melamine market is projectedto grow at a CAGR of more than 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.
· Melamine is a white crystalline powder with 99.8% purityand is commonly used in the production of melamine-formaldehyde (MF) resins.Melamine-based resins are moisture-resistant and hard.
· Rapid urbanization, increase in disposable income, and rise in standardof living are key factors contributing to robust growth of the building and constructionindustry. This serves as one of the key drivers for the melamine market.
Global MelamineMarket: Laminates to Lead Melamine Market
· MF resins are widely employed in the manufacture of laminated woodenpanels. These resins exhibit strong resistance to heat, stain, abrasion, andchemical reaction; thus, these are extensively employed in constructionapplications.
· Laminates application segment accounted for more than 50% sharein global 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-based adhesives are largely used in hotline fixing of carseats, panel laminations, headlamps, and other interior component assemblies inthe automotive industry.
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Global MelamineMarket: Key Challenges Faced by Industry
· Urea is the key feedstock used in the manufacture of melamine. Of late,the prices of urea have been subject to a high degree of volatility owing towide fluctuations in the short term supply and demand. The supply sidefluctuation is ascribed to unstable oil & gas prices, which affect thetotal production cost and affecting the overall melamine market growth.
· Increasing public awareness and rising demand for non-hazardous productsare some of the key factors hampering the melamine market for molding compoundsapplication. However, continuous efforts to reduce formaldehyde emissionsacross the globe is likely to benefit melamine market as ‘low-formaldehyde’boards use high amount of melamine based adhesives indirectly contributing tothe growth of melamine market.
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Global MelamineMarket: Regional Highlights
· In terms of volume, Asia Pacific accounted for more than 50% sharein the global melamine market in 2018. The region is likely toremain the 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 export melamineto the U.S. and countries in Western Europe.
· Demand from China is largely dominated by domestic real estate market.It is mainly consumed in laminates and wood panels which has high demand indomestic China market and for exports.
· Europe accounted for significant share in global melamine market in2018. Increased production of laminates and wood adhesives in the region islikely to boost melamine consumption over the forecast period.
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Key Developments inGlobal Melamine Market
· In December 2019, OCI N.V. Dakota Gasification Company andDyno Nobel Enter into Exclusive Marketing Agreement for DEF, Urea Liquor andAutomotive Grade Urea in North America.
· In January 2019, 1st batch ofmelamine was manufactured using Casale LEM process, basic design and and proprietaryequipment. In 2015, GSFC and Casale has signed a contract for new40 kilo tons plant.
· In April 2017, Japan’s Mitsui Chemicals restarted itsmelamine production plant which was shut down for due to technical issue.
· In April 2015, BASF SE announced expansion of its Basotectmelamine resin foam range with the addition of Basotect B. This product isspecifically designed for usage as a sound absorber for optimizing acoustics ofrooms.
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Global MelamineMarket: Competition Landscape
· The global melamine market is fragmented. The top seven players in theglobal melamine 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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