According to projections, the global melamine formaldehyde market will grow from a value of US$ 645.1 million in 2022 to US$ 1.21 billion by the end of 2032, at a CAGR of 6.5%.
Melamine and highly reactive formaldehyde gas are combined to create melamine formaldehyde, a synthetic resin, in an alkaline atmosphere. Melamine-formaldehyde resin is stiffer, stronger, and offers higher resistance to moisture, heat, chemicals, electricity, and scratching as compared to urea-formaldehyde resin in terms of production and application.
Thermosetting polymers, also known as amino resins, have great value-added features such as low density, transparency, thermal stability, high gloss, and light fastness.
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Which Market Changes are Expected to Benefit Melamine Formaldehyde Suppliers?
“High Consumption of Melamine Formaldehyde in Construction Industry as Concrete Plasticizer”
The construction industry’s rapid expansion is a major driver boosting the melamine formaldehyde market growth. It is employed in the construction of high-rise skyscrapers and other long-lasting constructions as a concrete plasticizer.
When combined with wood waste products, which are frequently utilised in the construction industry, helps to meet green building criteria. As a result, an increase in the construction industry is likely to boost melamine formaldehyde market growth.
“High Demand for Melamine-formaldehyde Resins from Furniture Industry”
The wood and furniture sector is a key consumer of melamine-formaldehyde resins, and the worldwide melamine-formaldehyde resins market is likely to rise in tandem with that of the wood and furniture industry.
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Key Takeaways from Melamine Formaldehyde Market Study
- Wood adhesives are estimated to account for a market share of 23.3% in 2022, accounting for a sales value of US$ 150.4 million.
- In terms of geography, North American consumers are predicted to spend the most on melamine formaldehyde products, and the market is expected to hold around 31.4% of the global market share in 2022.
- Key market players are expected to focus on collaborations & partnerships to enhance their market stance.Competitive Landscape
The melamine formaldehyde market is fairly fragmented, with both, large and small competitors participating in this space.To improve their position in this market, major players are using a variety of organic and inorganic growth tactics such as mergers and acquisitions, new product development, investments, collaborations, partnerships, alliances, and others.Key players in the Melamine Formaldehyde Market
- BASF SE
- Hexion
- Arclin Inc.
- Prefere Resins Holding GmbH
- Georgia Pacific Chemicals
- Qatar Melamine Company
- Chimica Pomponesco S.p.A
- Chemplastica
- Allnex Belgium S.A.
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Key Segments Covered in Melamine Formaldehyde Industry Research
- Melamine Formaldehyde Market by Form :
- Liquid Melamine Formaldehyde
- Powder Melamine Formaldehyde
- Melamine Formaldehyde Market by End Use :
- Laminates
- Wood Adhesives
- Molding Powders
- Coatings
- Other End Uses
- Melamine Formaldehyde Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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