Melamine Market 2018: Share, Competitor Strategy, Trends by Forecast to 2027
Market Research Future Published a Half Cooked Research "Global Melamine Market Research Report – Forecast to 2027" – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027.
BASF, INEOS, Jinan Xiangrui Chemicals, Mitsui Chemicals, Nissan Chemicals, Methanol Holdings, Shandong Sanhe Chemcals, Oatar Melamine Company, Hexion Speciality Chemials, Borealis AG and others.
Melamine Market – Market Overview
Global Melamine Market is expected to grow at a significant CAGR over the next seven years owing to factors such as increasing automobile production coupled with revival of Global Construction Industry. Rising consumer awareness regarding benefits associated with melamine coupled with growing consumption within automotive paint & coatings application sector is further anticipated to bolster product demand.
The growth of automotive production in emerging economies due to rising urban population along with increasing affordability is a prominent factor driving the demand for Melamine. Surge in automotive sales as a result of increasing per capita disposable income along with supportive government norms is slated to fuel industry growth. The product finds wide application scope in laminates, coatings, adhesives, and flame-retardants among others. Such wide application area attracts demand from a plethora of end-use industries ranging from automotive to construction, aerospace, consumer goods and packaging.
Increasing construction spending in Asia Pacific and Middle East is further anticipated to boost the demand for Melamine. The rising need for residential and non-residential space in aforementioned developing region as a result of expanding urban population coupled with higher affordability among middle class is set to uplift the industry growth over the forecast period.
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It is an important organic chemical utilized in the production of laminates and decorative panels. The product is combined with formaldehyde to obtain thermosetting plastic melamine formaldehyde (MF) resin. This thermosetting resin is extensively used in wide range of applications such as molding compounds, textiles, surface coatings, and flame retardants.
However, price volatility and supply imbalance of raw materials is expected to challenge market participants and hinder market growth over the forecast period. Increasing concerns related to formaldehyde emissions is further expected to restrict the development of melamine specifically in developed regions.
On the basis of application, laminates emerged as the leading segment with demand driven by increasing usage in construction industry. Melamine based coatings usage in both construction and automotive sector is also growing at a brisk pace, thus driving the global market growth.
Asia Pacific was the largest regional market in terms of Melamine consumption and the trend is expected to follow over the forecast period. Expansion of automotive industry along with escalating construction spending is anticipated to drive regional market growth. China, India, Malaysia, and New Zealand are some of the leading countries in terms of melamine consumption within the Asia Pacific Region.
European market is anticipated to exhibit high growth rate due to shifting production of wood based panels and laminates towards eastern part of Europe. Major countries contributing towards regional market growth include Turkey and Russia. North America and Latin America are slated to witness moderate growth over the forecast period.
Industry/ Innovation/ Related News
November 2017 – BASF’s open cell melamine foam Basotect® has successfully substituted conventional materials in the seat back cushions of multiple rail car programs on both the U.S. coast. The enhanced seating can be seen in the fast community transport system running across the San Francisco Bay Area and the commuter rail system serving Long Island in New York.
July 2017 – OCI Nitrogen also announced price increase of melamine owing to tough operating conditions in the market such as raw material price volatility and competitive scenario.
June 2017 – BASF announcedprice increase for all its Kaurit® and Kauramin® glues by €15 per metric ton in Europe on account of price fluctuation in the prices of raw materials. It comes as a startegic decision in order to maintain personnel, logistics, and maintenance cost. Kaurit and Kauramin glues are condensation products of urea and formaldehyde. Kauramin additionally contains melamine.
April 2015 – BASF announced the expansion of its product range of melamine resin foams for room acoustics with Basotect® B. It is widley utilized for acosutic solutions in the construction industry.
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