Dec 12, 2022   SOURCE: BusinessWire

Melamine Market 2022-2028: Significant Rise in Spending on Home Decor Drives Growth - ResearchAndMarkets.com

The "Melamine Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global melamine market is projected to have a considerable CAGR of around 4.26% during the forecast period. Melamine is a white crystalline substance that is a member of the heterocyclic organic compounds family and contains 66% nitrogen by mass. Melamine foams have their application in insulation, soundproofing metal, and polymeric cleaning products such as magic erasers.

The significant rise in consumer awareness and spending on aesthetics and home decor has increased demand for wooden furniture, flooring, cabinets, and other similar items, which drives the melamine market. Increased melamine's use in high-resistance concrete and carbon nanotubes, as well as a growth in demand for melamine from the laminates and wood adhesives markets, are also driving the market.

Further, the restructuring and modification of residential structures to cut costs and improve energy efficiency are expected to bring an opportunity to boost the melamine market during the forecast period. However, toxicity levels associated with melamine restrict the growth of the market.

The global melamine market is segmented based on application. Based on the application the market is further classified into instruments and accessories, robotic systems, and services. Based on application, the market is segregated into laminates, wood adhesives, molding compounds, paints and coatings, and other applications.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is the region expected to have the largest market share in the melamine market. The growth is attributed to the high consumption of melamine in countries such as China and India with maximum demand from the automotive and construction industries. Further, as the construction industry is dominated by state-owned enterprises, increased government spending is boosting the industry in the region and this scenario may concrete the demand for melamine materials during the forecast period.

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights

3. Competitive Landscape

4. Market Determinants

5. Market Segmentation

6. Regional Analysis

7. Company Profiles

Companies Mentioned

  • BASF SE
  • Borealis AG
  • Cornerstone Chemical Company
  • Grupa Azoty
  • Gujarat State Fertilizers & Chemicals Limited (GSFC)
  • Prefere Resins Holding GmbH
  • Methanol Holdings (Trinidad) Limited (MHTL)
  • Mitsui Chemicals Inc.
  • Hexion
  • Nissan Chemical Corporation
  • OCI NV
  • Qatar Melamine Company
  • Sichuan Chemical Works Group Ltd
  • Henan Xinlianxin Chemicals Group Co. Ltd
  • Eurochem Group

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