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Melamine formaldehyde is a hard polymer that appears white in color. It is one of the hardest polymers due to its thermosetting plastic properties. It has excellent UV, chemical, moisture, and thermal resistance properties. Table tops, wood adhesives, surface coatings and laminated countertops are some of the major applications of the melamine formaldehyde.

Global melamine formaldehyde market was valued at US$ 21927.41 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.8 % during the forecast period (2022 to 2030).

Drivers

Robust growth in the construction industry is a prime factor propelling the market growth of the melamine formaldehyde. It is used as concrete plasticizer in the construction of rising buildings and other durable structures. Moreover, it helps to comply with green building standards when added to wood waste products which are widely used in the construction industry. Thus, growth in the construction industry is expected to augment the market growth of the melamine formaldehyde.

Rapid growth in the housing projects coupled with the tremendous growth in the population is again anticipated to foster the market growth of the melamine formaldehyde. High demand for melamine formaldehyde from China is expected to accelerate the market growth.

The COVID-19 outbreak impacted the melamine formaldehyde market negatively. The market witnessed a sharp decline in demand for melamine formaldehyde from various industries, such as furniture, paper and construction industry. The COVID-19 pandemic caused a ban on imports and export, thereby disrupting the supply chain and hampering the melamine formaldehyde market growth.

Figure 1. Global Melamine Formaldehyde Market Value Share (%), By Region, 2021

Melamine Formaldehyde  | Coherent Market Insights

Market Restraints

The fluctuating price of raw materials used in the production of the melamine-formaldehyde is expected to hinder the market growth. Melamine formaldehyde manufactured by natural gas or urea feedstock

Limited application of melamine and formaldehyde as they are used only for surface coatings is leading to slow down of the global consumption of melamine formaldehyde.

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Melamine Formaldehyde Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 21927.41 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 6.8 % Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Application: Tableware, Laminates, Paints & Coatings, Adhesives, Sanitary Ware, Electrical & House and Others 
Companies covered:

BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemical LLC, Chemiplastica SPA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui Chemicals Inc., INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc., Panasonic Corporation, and OCI Nitrogen BV

Growth Drivers:
  • High demand for melamine formaldehyde.
  • Robust growth in the construction industry 
Restraints & Challenges:
  • The fluctuating price of raw materials used in the production of the melamine-formaldehyde

Market Trends

Expanding production capacity of the manufacturer is a key trend in the market. For instance, in December 2019, BASF has expanded its range of the melamine resin foam Basotect: The new grade Basotect UF+ with improved emission properties. It is lightweight and flexible foam which makes it ideal for the insulation of rail vehicles as well as of heating, ventilation, and air-conditioning (HVAC) technology in buildings.

A growing merger and acquisition among manufacturer for business expansion is the current trend. For instance, in April 2019, Prefere Resins acquired INEOS's Melamines and Paraform business segments for an undisclosed amount. Prefere Resins has a total production capacity of 350,000 tonnes/year.

Figure 2. Global Melamine Formaldehyde Market Value Share (%), By Application  2021

Melamine Formaldehyde  | Coherent Market Insights

On the basis of application in 2021, the laminates segment has accounted the largest market share of 31.2% in terms of value, followed adhesives and paints & coatings respectively

Recent Developments

  • In April 2019, Prefere Resins acquired INEOS's Melamines and Paraform business segments for an undisclosed amount. Prefere Resins has a total production capacity of 350,000 tonnes/year.
  • In October 2019, BASF SE, one of the major producers of phenolic resin announced that it has plans to is invest in the establishment of a petrochemical manufacturing plant in Gujarat as part of a coordinated partnership with Adani Group, India's leading private thermal power plant.
  • In 2019, Metafrax, largest supplier of methanol and formaldehyde, has announced it has entered into an agreement with Casale SA, centred in Switzerland, to collaboratively construct urea, melamine and ammonia facilities in Gubakhka. The  significant part of the material will be used on board as melamine raw material for the production of synthetic gums and UFCs.

Competitive Section

Major players operating in the global melamine formaldehyde market include Chang Chun Plastics Co. Ltd., Georgia Pacific Chemicals LLC, Chemiplastica SpA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui ChemicalsInc, INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc, Panasonic Corporation, OCI Nitrogen BV

Melamine formaldehyde is a synthetic resin obtained from melamine and formaldehyde by condensation of two monomers. Melamine formaldehyde is a durable, hard, and versatile thermosetting amino last with good heat and fire resistance. It is also a chemically resistant resin that is employed in particleboard and plywood adhesives, laminated tabletops and countertops, automotive surface coatings, and dishwasher-safe tableware

Market Dynamics

Melamine formaldehyde has extensive use in a variety of products, prized for its ease of production and toughness. Therefore, the majority of melamine-formaldehyde resins are customized to cater to the requirements of certain applications. Electrical resistance, mechanical qualities, and thermal stability are decided by the curing behavior as well as the level of cross-linking of the formaldehyde and melamine.

Growing demand for melamine formaldehyde from the automotive industry is expected to offer potential market opportunities over the forecast period. They are used in the manufacturing of the lightweight polyurethane foams for automobile door insulation, decorative laminates of car interiors, and vulcanized rubber tires. Thus, such emerging applications of the melamine-formaldehyde from automotive the industry is augmenting the market growth over the forecast period.

Key features of the study:

  • This report provides an in-depth analysis of the global melamine formaldehyde market and provides market size (US$ Million & Kilo Tons) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on global melamine formaldehyde market.
  • It profiles key players in the global melamine formaldehyde market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemical LLC, Chemiplastica SPA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui Chemicals Inc., INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc., Panasonic Corporation, and OCI Nitrogen BV
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global melamine formaldehyde market report caters to various stakeholders in this industry including investors, suppliers, global soy and milk protein ingredients manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global melamine formaldehyde market

Detailed Segmentation:

  • Global Melamine formaldehyde market, By Application:
    • Tableware
    • Laminates
    • Paints & Coatings
    • Adhesives
    • Sanitary Ware
    • Electrical & House
    • Others
  • Global Melamine formaldehyde market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Middle East
      • Africa
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Chang Chun Plastics Co. Ltd.
    • Georgia Pacific Chemicals LLC
    • Chemiplastica SpA
    • MPC Ferrostaal GmbH
    • Chemisol Italia Srl
    • Mitsui ChemicalsInc
    • INEOS Group Holdings SA
    • Nissan Chemical Industries Ltd.
    • Borealis Agrolinz Melamine GmbH
    • Momentive Specialty Chemicals, Inc.
    • Panasonic Corporation
    • OCI Nitrogen BV

Frequently Asked Questions

Global melamine formaldehyde market was valued at around US$ 21927.41 Million in 2021.
The market is expected to exhibit a CAGR of 6.8% during the forecast period (2022-2030)
A growing merger and acquisition among manufacturer for business expansion is the current trend. 
Limited application of melamine and formaldehyde as they are used only for surface coatings is leading to slow down of the global consumption of melamine formaldehyde.
Major players operating in the market include Chang Chun Plastics Co. Ltd., Georgia Pacific Chemicals LLC, Chemiplastica SpA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui ChemicalsInc, INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc, Panasonic Corporation, OCI Nitrogen BV
The market is estimated to grow at around 6.8 % CAGR in the forecast period (2022-2030).

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