The market trends suggest that the global melamine market was valued at $1.7 billion in 2020 and is projected to reach $2.5 billion by 2027. The market will be growing at a CAGR of 4.3% from 2021 to 2027.
Melamine, a white crystalline substance, is a member of the heterocyclic organic compound family, and it contains 66% nitrogen by mass. When Melamine comes in contact with formaldehyde and other agents, they give rise to formaldehyde, and melamine resins under the process of polymerization. These resins have features like they are hard, glossy, durable, and exhibit intense heat, followed by moisture, and stain resistance.
The global demand for the products of the melamine market is primarily driven by growth in demand for laminates across the globe, a rise in consumption of Melamine in the wood adhesive industry, and increased construction activities. Globally, there has been a significant undersupply to meet the APAC demand for housing. For example, in the Chinese region, residential investment grew by about 13.9% during the first eleven months of 2019, reaching $1,518.9 billion. The area under residential construction during the period was recorded to have reached 6,276.73 million square meters, indicating a 10.1% growth. However, in countries such as the U.S., the value of new private residential buildings has decreased from $5 39,607.0 million in 2018 to $5 14,629 million in 2019.
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Market Segmentation
The melamine market has been segmented based on the following:
- By Type
- Melamine Foam
- Melamine Resin
- By Application
- Laminates
- Thermoset Plastics
- Wood Adhesives
- Surface Coatings
- Others
- By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Regional Analysis
Asia-Pacific accounted for a significant melamine market share in 2020. Owing to the rise in construction activities and increase in demand for laminates, wood adhesives, and paints & coatings in countries such as China, India, and Japan, the usage of Melamine has increased in the region. In Asia-Pacific, China dominates the melamine market. Despite explosive growth in the real estate sector, the Chinese government’s significant rail and road infrastructure development to withstand the expansion in industrial and service sectors has resulted in significant growth of the country’s construction industry in recent years.
Some of the key players belonging to the melamine market share are as follows:
- CORNERSTONE CHEMICAL COMPANY
- NISSAN CHEMICAL INDUSTRIES. LTD.
- SICHUAN GOLDEN ELEPHANT CHEMICAL
- Mitsui Chemicals, Inc.
- QATAR MELAMINE COMPANY
- METHANOL HOLDINGS LIMITE
Industry News
- As a part of the APAC region in China, the government rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next ten years. It will help increase the demand for paints where Melamine is used to prepare paints.
- According to the information stated by the Civil Aviation Administration of China, the APAC government has resumed construction work on more than 80% of total airport projects, representing 65 airport projects across the country, of which 27 airports are the national major airport projects. Such ongoing projects in the market are expected to increase demand for Melamine Market.
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