In a recent published report, Kenneth Research has updated the market report for Melamine Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Melamine Market products.
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A report on Melamine Market market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021. On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities.
Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
The global melamine market size is projected to reach USD 10.55 billion by 2026 growing at a CAGR of more than 4.0% from 2019 to 2026, as per a new research report published by Polaris Market Research. The report ‘Melamine Market Share, Size, Trends, & Industry Analysis Report, [By Type (Resin and Foam), By Application (Laminates, Wood, Adhesives, Molding Compounds, Paints & Coatings), By End-use (Construction, Automotive, OEM), By Regions]: Segment Forecast, 2019 – 2026’ offers a wide analysis of different applications in along with insights related to current and future trends in the market.
Melamine is a chemical substance, obtained in two forms including melamine resins and melamine foams. The chemical content of the two product types is almost same and are used depending upon the type of applications. Melamine is an extensively used chemical compound on account of its superior chemical, mechanical properties, and flame-retardant properties.
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Melamine is mainly used in laminates and wood adhesives. Increasing construction spending with growing disposable income of the consumers has led to growth in melamine consumption. With recovery and advancements in the developing nations, the consumer spending on home decor products and luxury furniture has increased which has directly risen the demand for wood adhesives and laminates.
The demand of melamine mainly follows the level of development in the economies, where the demand in most of the downstream sectors is influenced by the general economic conditions. Automotive production, remodeling, construction, and original equipment manufacturers (OEM) are the few major end-use segments for melamine. In Addition to this, technological trends such as reduction of formaldehyde emissions in anticipated to become a growth factor for melamine as it is a strong formaldehyde-binding agent.
Asia Pacific is the most lucrative region for the melamine market with China as the single major participant, accounting for a share of over 40% of the total market consumption. China is expected to witness rapid growth till 2022 with anticipated increased production and additional capacities. The local consumption in the country is expected to be driven by the rapid growth in the real estate market. Melamine consumption in the automobile coatings is expected to witnesses moderately slower growth whereas its use in surface coatings for metal containers and appliances is likely to grow.
Europe accounts for approximately 28% share of the market and is the second-largest regional player in the melamine market. Eastern and Central Europe is anticipated to witness higher growth as compared to the rest of Europe due to higher consumption of melamine in laminates and wood adhesives. Melamine consumption growth in the Western Europe is expected to moderate on account of growth in residential remodeling and construction, vehicle productions, floor innovations, and do-it-yourself projects.
The global melamine industry constitutes large number of domestic and international players. Its is a moderately fragmented industry with high degree of backward integration across the value chain by the market players. Some of the major melamine market players include OCI Melamine, BASF SE, Borealis AG, Hexion Specialty Chemicals, Sichuan Golden Elephant Chemical Co., Qatar Melamine Co., and Mitsui Chemicals Inc.
Polaris Market Research has segmented the global melamine market on the basis of by type, Application, end user and region:
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Melamine By Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Melamine By Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Paints & Coatings
Melamine By End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Melamine By Region Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
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