Melamine Market to Observe Strong Development by 2023
Transparency
Market Research has published a new report titled “Melamine Market
- Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2015 - 2023.” According to the report, the global melamine market
was valued at US$1.72 bn in 2014 and is anticipated to reach US$2.49
bn by 2023, expanding at a CAGR of 4.3% between 2015 and 2023.
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Report Overview @
Melamine
is a white crystalline powder with 99.8% purity and is commonly used
in the production of melamine-formaldehyde (MF) resins.
Melamine-based resins are moisture-resistant and hard. Melamine
contains nearly 66% nitrogen by mass. Thus, it offers flame-retardant
properties when mixed with resins. MF resins release nitrogen gas
when burned or charred. Melamine is used in a broad range of
applications such as laminates, adhesives, molding compounds, surface
coatings, paper treatments, textile resins, and flame retardants.
Rapid urbanization, increase in disposable income, and rise in
standard of living are key factors contributing to robust growth of
the building and construction industry. This serves as one of the key
drivers for the melamine market. MF resins are widely employed in the
manufacture of laminated wooden panels. These resins exhibit strong
resistance to heat, stain, abrasion, and chemical reaction; thus,
these are extensively employed in construction applications.
Volatility in raw material prices and increasing consumer concern
toward formaldehyde emission from melamine-based molding compounds
are key inhibitors for the market. However, melamine foams are
anticipated to offer growth opportunities as they exhibit high sound
absorption capacity and possess an intrinsic property of flame
retardancy. Thus, these foams can be used in buildings, suspended
baffles, acoustic panels, and metal ceiling panels.
Laminates
was the dominant segment of the global melamine market in 2014. A
similar trend is expected to continue between 2015 and 2023. The
segment accounted for more than 50% share of the global melamine
market in 2014 and is anticipated to be the fastest-growing market
during the forecast period. Adhesives & sealants and others are
projected to play a crucial role in growth of the global melamine
market from 2015 to 2023. Melamine-based adhesives are largely used
in hotline fixing of car seats, panel laminations, headlamps, and
other interior component assemblies in the automotive industry.
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The
global melamine market is fragmented. The top seven players in the
global melamine market accounted for more than 35% share in 2014. Key
players operating in the market include OCI N.V., Borealis AG, BASF
SE, Grupa Azoty Zaklady Azotowe Pulawy S.A. (ZAP), Methanol Holdings
(Trinidad) Limited (MHTL), Qatar Melamine Company (QMC), Cornerstone
Chemical Company, and Xinji Jiuyuan Chemical Co., Ltd.
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