Market trends suggest that the global melamine market was valued at USD 1.7 Billion in 2020 and is projected to reach USD 2.5 Billion by 2027. The market will grow at a CAGR of 4.3% by 2021 to 2027.
Melamine, a white crystalline substance, belongs to the family of heterocyclic organic compounds and contains 66% nitrogen by mass. When melamine comes into contact with formaldehyde and other agents, it gives rise to formaldehyde and melamine resins in the polymerization process. These resins have characteristics such as they are hard, shiny, durable and exhibit intense heat, followed by moisture and stain resistance.
Global demand for melamine market products is majorly driven by growing demand for laminates across the globe, rising consumption of melamine in wood adhesive industry and rise in construction activities . Globally, there has been insufficient supply to meet APAC housing demand. For example, in the China region, residential investment grew by around 13.9% in the first eleven months of 2019, reaching $1,518.9 billion. The area under residential construction during the period reached 6,276.73 million square meters, indicating a growth of 10.1%. However, in countries like the United States, the value of new private residential buildings increased from $5,39,607.0 million in 2018 to $5,14,629 million in 2019.
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The melamine market has been segmented based on the following:
- By type
- Melamine foam
- Melamine resin
- By request
- Thermosetting plastics
- Wood adhesives
- Surface coatings
- By region
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Asia-Pacific accounted for a major melamine market share in 2020. Due to increasing construction activities and increasing demand for laminates, wood adhesives, and paints and coatings in countries such as China, India and Japan, the use of melamine has increased in the region. In Asia-Pacific, China dominates the melamine market. Despite the explosive growth of the real estate sector, the Chinese government’s significant development of rail and road infrastructure to withstand the expansion of the industrial and service sectors has led to significant growth in the country’s construction industry in recent years.
Some of the Major Players Belonging to Melamine Market Share are:
- CORNERSTONE CHEMICAL COMPANY
- NISSAN CHEMICAL INDUSTRIES. LTD.
- SICHUAN GOLDEN ELEPHANT CHEMICAL
- Mitsui Chemicals, Inc.
- QATAR MELAMINE COMPANY
- METHANOL HOLDINGS LIMIT
- As part of China’s APAC region, the government has rolled out massive construction plans, including planning to move 250 million people to its new megacities over the next ten years. This will help increase the demand for paints where melamine is used to prepare paints.
- According to information from the Civil Aviation Administration of China, the APAC government has resumed construction work on more than 80% of the total airport projects, accounting for 65 airport projects across the country, including 27 airports are the major national airport projects. These ongoing projects in the market are expected to increase the demand for the melamine market.
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