Melamine Formaldehyde Market | 2018 Global Top Industry Players Analysis and Forecast to 2023

Melamine Formaldehyde Market
Melamine Formaldehyde Market Information- by Type (Methylated and Non-Methylated Formaldehyde), by End-Use (Automotive, Construction and Building, Electronics, Wood & Furniture, Packaging, Chemicals and Others) – Forecast till 2023

Synopsis of Melamine Formaldehyde Market:

Melamine Formaldehyde is a hard, therosetting polymer formed by condensation polymerization. It is white in color and odorless in taste. It exhibits an excellent UV, corrosion and thermal resistance, low fire susceptibility, and durable properties are important attributes, promoting the market positively. Owing to these features, it is used in various applications such as automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others.

As per our survey, the Global Melamine Formaldehyde Market is segmented into the type and end-use. The market by type is further divided into methylated and non-methylated formaldehyde. Among these, Methylated Formaldehyde segment holds a major share in the market due to its growing use in coating, crosslinking, textile, nonwoven and papermaking applications. The non-methylated formaldehyde segment is estimated to witness a rapid growth in the market due to exceptional features offered by the product such as solvent resistance, durable and reliable nature. On the basis of end-use, the market is further categorized into automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others. Among these, construction and buildings segment has been the leading the market segment, due to boundless consumption of formaldehyde resins in countertops, furniture, moldings, stair systems, support beams and trusses. The automotive segment is also predicted to witness a higher CAGR owing to growing substitution of heavy materials by lighter polymers, during the forecast period, 2017-2023. 

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Regional Analysis:

The Global Melamine Formaldehyde Market is segmented into five regions of the world, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for Melamine Formaldehyde polymers in automotive, construction and building, electronics, and others. The construction and buildings segment is predicted to witness a rapid growth in the market due to increasing consumption of formaldehyde resins in countries such as China, Japan and India. It is estimated that the automotive segment is set to witness a higher growth in the market during the forecast period, 2017-2023.

The North American region has observed a notable growth in the market due to growing demand of formaldehyde resins in end-use industries such as coatings, textiles, paper, plywood, and others. It is observed that the packaging segment is set to witness a higher CAGR in the market owing to rapid consumption of melamine resins in jar lids, board and beverage cans. Due to these factors, U.S., Canada and Mexico are the major players in this region.

Europe has observed a recognized progress in the market due to an increased use of melamine resins in construction and buildings, automotive, and other sectors. These resins are utilized in these sectors to manufacture low cost, efficient, high standard, and durable products. Owing to these factors, Germany has accounted for major share in the market followed by the U.K. and Italy. It is estimated that the growing industrialization coupled with advancing technology will drive the market during the forecast period.

The Latin American region is estimated to witness a recognized development in the market due to growing consumption of formaldehyde resins in automotive, construction & building, textiles, wood and furniture industries. Moreover, the Middle East & Africa is anticipated to witness a higher growth in the market due to high disposable income and growing investments in the heavy end industries.

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Segmental Analysis:

The Global Melamine Formaldehyde Market is segregated into the type and end-use. The methylated and non-methylated formaldehydes are segmented on the basis of type. Among these, the methylated formaldehyde segment is accounted for a major share of the market due to its growing use in coatings, textiles and other industries. On the basis of end-use, the market is further categorized into automotive, construction and building, electronics, wood & furniture, packaging, chemicals, and others. Among these, the construction and building segment holds a major share in the market owing to growing use of polymer materials in flame retardant materials, flooring, dry base boards, and others. The investors in the automotive industry are encouraging the manufacturers to use melamine resins as a substitute for heavy materials due to its ecofriendly, corrosion resistant and durability. Therefore, the segment is predicted to witness a rapid growth in the market owing to growing use of lighter weight materials. The packaging segment is fueled by the extensive use of Melamine Formaldehyde in dinnerware, chopsticks, dairy product containers, and others. Moreover, the electronics, wood furniture and chemical segments in the market have been driven by the exceptional features offered by the product such as abrasion resistance, low density materials, high standard, among others.

Key Players:

  • BASF SE
  • Huntsman International LLC
  • Hexion
  • Mitsui Chemicals, Inc
  • Allnex group
  • INEOS Melamines
  • Chemiplastica SPA
  • Hexza Corporation Berhad
  • Chemisol Italia s.r.l.
  • Borealis Agrolinz Melamine GmbH

Geographical Analysis:

The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

 

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