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Melamine is a white-colored substance used in the manufacture of laminates. Melamine is combined with formaldehyde to form melamine formaldehyde resins. The Global Melamine Market Report by Market Research Future (MRFR) comprises vital insights and challenges for making industry leaders aware for the period of 2018 to 2023 (forecast period). The outbreak of the COVID-19 virus and its impact has been included in the report.Market Scope:
Global Melamine Market is poised for massive growth during the forecast period owing to the use of melamine resins in woodworking applications. Bonding of particleboard, plywood, and hardwood with laminates is expected to drive market demand. Melamine resins and its use in thermoset plastics can be used in numerous applications. It can also find use in additives, coatings, adhesives, and sealants and preferred in the construction industry. Development of commercial buildings and high-rise towers can pave the way for the market.
Concerns of formaldehyde emissions from melamine can impede the market growth.
Competition Outlook:
Sichuan Golden Elephant Chemical, Borealis AG, Qatar Melamine Company, Cornerstone Chemical Company, Methanol Holdings, Mitsui Chemicals, Inc., OCI Nitrogen, NISSAN CHEMICAL INDUSTRIES. LTD., Haohua Junhua Group Co, Ltd., and BASF SE are key players of the Global Melamine Market.
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Segmentation:
Global Melamine Market is segmented by Form, Application and End-User Industry.
On the basis of the Product Type, Global Melamine Market is segmented into melamine resin, melamine foam, and others.
On the basis of the Application, Global Melamine Market is segmented into surface coating, thermoset plastics, laminates, wood adhesives, and others.
On the basis of the End-User Industry, Global Melamine Market can be segmented into automotive industry, construction, chemical industry, textile industry, and others.
Regional Analysis:
Global Melamine Market is spanned across five regions namely North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
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APAC is predicted to lead the global market. China is the largest and the fastest growing market in the region, both in terms of production and consumption due to the boom in real estate. Other countries such as India, Japan, Indonesia, and Malaysia are also expected to witness a significant growth due to rising demand from the construction industry. Development of sulfonated melamine formaldehyde to be used as an additive in cement mixes can bode well for the market. In addition, rising disposable income levels of consumers is expected to boost the regional Melamine Market.
Europe is the second largest Melamine Market Globally. The market growth is driven by the residential construction, renovation activities, and the strong automotive industry. Increased activities in renovation and procurement of new décor in homes is likely to trigger the high demand for laminate-based furniture and cupboard storage for kitchen, bathrooms, , and wood adhesives.
The MEA is expected to showcase a steady growth rate for melamine due to ongoing infrastructural projects taken up by governments of Qatar & U.A.E. Initiatives taken to spur the domestic tourism industry can act as a perfect catalyst. However, the Global Melamine Market in North America is relatively mature and is expected to not change its valuation over the review period. Lastly, Latin America is expected to show sluggish growth due to slow overall development of the region.
COVID-19 Study in Detail:
COVID-19 Impact Analysis on Aluminum Extruded Products Market @ https://www.marketresearchfuture.com/report/covid-19-impact-aluminum-extruded-products-market
COVID-19 Impact on Self-Healing Materials Market @ https://www.marketresearchfuture.com/report/covid-19-impact-self-healing-materials-market
COVID-19 Impact Analysis on Artificial or Synthetic Leather Market @ https://www.marketresearchfuture.com/report/covid-19-impact-artificial-synthetic-leather-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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