Reports And Data

Melamine Market Size – USD 7,826.4 Million in 2020, Growth - CAGR of 3.7%, Trends – The increasing use of melamine in high resistance concrete

NEW YORK CITY, NY, UNITED STATES, March 22, 2022 /EINPresswire.com/ -- The Melamine Market is extended to reach USD 10.55 Billion by 2028, according to a new report by Reports and Data. Melamine, also known as triaminotriazine, has a molecular formula of C3H6N6, which is an organic compound. It is a trimer of cyanamide, comprising of 1, 3, 5-triazine skeleton. Like cyanamide, this organic compound comprises of 67% nitrogen by mass. The derivate of triaminotriazine has fire retardant traits as it releases nitrogen gas when charred or burned. Melamine resins can be produced from it, by combining with formaldehyde and other agents. One of the mentionable trait of these resins are, it provides with durable thermosetting plastic that have a wide arena of application like melamine dinnerware, high pressure decorative laminates like Formica, dry erase boards and laminate flooring. Another mentionable use of this organic compound is in manufacturing melamine foam that is used in polymeric cleaning products, soundproofing material, and insulation. Thus, a wide arena of application of this compound is one of the mentionable factors spurring the growth of the market. Factors like increasing the use of melamine in high resistance concrete, the expansion of the automotive and construction industry, and rising focus on home decoration are also propelling the growth of the market.

In regards to region, North America can be seen to occupy a significant share of the market. The market share held by the region is associated with well-established automotive sector and expanding construction sector.

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Top Key Players: Gujarat State Fertilizers & Chemicals Ltd, Grupa Azoty Zaklady Azotowe Pulawy SA, Methanol Holdings (Trinidad) Limited (MHTL), Borealis AG, BASF SE, East China Engineering Science & Technology Co. Ltd (ECEC), Cornerstone Chemical Company, INEOS Group, Momentive Specialty Chemicals Inc. and Mitsui Chemicals Inc.

Market Overview:
Chemical and manufacturing industry largely caters to a broad range of commodity-related manufacturing and include a wide variety of materials such as sand, gravel, stone, and chemicals. Increasing focus on development of sustainable chemicals and materials, advancements in the development of smart materials such as nanocomposites and other advanced composites, and growing popularity of 3D printing have significantly contributed to revenue growth of the market. In addition, rising emphasis on green building and construction have increased use of renewable resources and this is also a key factor driving market growth.

Key companies are engaged in developing advanced materials having robust characteristics and forming strategic alliances such as mergers and acquisitions, joint ventures, collaborations, and product launches among others to gain a robust footing in the market. The competitive landscape section offers a comprehensive analysis of the competitive landscape along with profiles of the companies, their product portfolios, and lucrative business strategies undertaken by them.

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Further key findings from the report suggest

The Melamine market held a market share of USD 7,826.4 Million in the year 2020 and is forecasted to grow at a rate of 3.7% during the forecast period.

In context to Forms, the Melamine Foam segment held 31.0% of the market in 2020, with a growth rate of 3.2% during the forecast period. The market share held by the Melamine Foam segment is associated with continuous expansion of the automotive industry and the associated demand of melamine foams in engine cover, acoustic, and heat insulation, which is contributing to the market share held by this segment.

In context to End-user, the Building & Construction segment held the largest market share of more than 30.0% in 2020, with a growth rate of 4.1% during the forecast period. The market dominance of the Building & Construction segment is attributed to the continuous expansion of the construction sector and associated rising demand for laminates, floor tiles in this sector, resulting in elevated use of this compound in this sector contributing to the market share held by this segment.

In regards to Application, the Wood Adhesives segment is projected to witness the fastest growth rate of 4.4% during the forecast period, which is expected to hold 27.0% of the market by 2028. The continuously rising demand for furniture, use of this compound as adhesives for semiexterior & exterior grade particleboard and plywood that provides with fast initial tack, and longer open time are supporting the growth rate witnessed by this segment.

In regards to the region, Europe held 18.0% of the market in 2020, with a significant growth rate of 4.6% during the forecast period. The market share held by the region is resultant of expanding construction industry and well-established automotive sector that supports the growth of the market in this region.

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For the purpose of this report, Reports and Data have segmented the global Melamine market according to Forms, Application, End-user, and Region:

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

Laminates

Thermoset Plastics

Wood Adhesives

Surface Coatings

Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

Building & Construction

Textile

Chemical

Automotive

Others

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Regional analysis covers the following key regions:

North America (U.S.A., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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