Global Melamine Market: Highlights
·
The major applications of melamine include construction/remodeling,
original equipment manufacturer (OEM) and automotive production. The industry
is greatly influenced by general economic condition of individual country.
·
The global melamine market is projected to
grow at a CAGR of more than 4% between 2019 and 2027 and
likely to cross US$ 2.8 Bn by 2027. Major
demand from laminates used in furniture, kitchen counter tops, cabinets,
floors, etc. are anticipated to drive the market.
·
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.
·
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.
Global Melamine
Market: Laminates to Lead 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.
·
Laminates application segment accounted for more than 50% share
in global melamine market in 2018. The segment is followed by
adhesives & sealants owing to high demand of melamine based wood based
adhesives found in various wood products such as particleboard, plywood and
medium-density fiberboard (MDF). These adhesives are known for its durability
and moisture resistance.
·
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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Global Melamine
Market: Key Challenges Faced by Industry
·
Urea is the key feedstock used in the manufacture of melamine. Of late,
the prices of urea have been subject to a high degree of volatility owing to
wide fluctuations in the short term supply and demand. The supply side
fluctuation is ascribed to unstable oil & gas prices, which affect the
total production cost and affecting the overall melamine market growth.
·
Increasing public awareness and rising demand for non-hazardous products
are some of the key factors hampering the melamine market for molding compounds
application. However, continuous efforts to reduce formaldehyde emissions
across the globe is likely to benefit melamine market as ‘low-formaldehyde’
boards use high amount of melamine based adhesives indirectly contributing to
the growth of melamine market.
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Global Melamine
Market: Regional Highlights
·
In terms of volume, Asia Pacific accounted for more than 50% share
in the global melamine market in 2018. The region is likely to
remain the largest consumer by 2027. China is the largest
manufacturer and consumer of melamine along with India, Indonesia, New Zealand,
and Malaysia in Asia Pacific. It is also the largest exporter and export
melamine to the U.S. and countries in Western Europe.
·
Demand from China is largely dominated by domestic real estate market.
It is mainly consumed in laminates and wood panels which has high demand in
domestic China market and for exports.
·
Europe accounted for significant share in global melamine market in
2018. Increased production of laminates and wood adhesives in the region is
likely to boost melamine consumption over the forecast period.
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Key Developments in
Global Melamine Market
·
In December 2019, OCI N.V. Dakota Gasification Company and
Dyno Nobel Enter into Exclusive Marketing Agreement for DEF, Urea Liquor and
Automotive Grade Urea in North America.
·
In January 2019, 1st batch of
melamine was manufactured using Casale LEM process, basic design and and
proprietary equipment. In 2015, GSFC and Casale has signed a
contract for new 40 kilo tons plant.
·
In April 2017, Japan’s Mitsui Chemicals restarted its
melamine production plant which was shut down for due to technical issue.
·
In April 2015, BASF SE announced expansion of its Basotect
melamine resin foam range with the addition of Basotect B. This product is
specifically designed for usage as a sound absorber for optimizing acoustics of
rooms.
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Global Melamine
Market: Competition Landscape
·
The global melamine market is fragmented. The top seven players in the
global melamine market accounted for more than 35% share in 2018. 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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