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Melamine Market 2022-2030 Size, Share Growth by News, Demand, Opportunity | (CAGR) of 4.3%

The global melamine market value was US$ 1.77 billion in 2021. The global melamine market value is forecast to reach US$ 2.69 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2022 to 2030.

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Melamine is a white crystalline substance that belongs to a family of heterocyclic organic compounds. It contains 66% nitrogen by mass. Melamine polymerizes with formaldehyde and other agents to form formaldehyde and melamine resins. Heat, moisture, and stain-resistant, these resins are hard, glossy, and durable. The use of melamine foam in insulation, soundproofing, and cleaning products like a magic eraser is widespread.

Factors Influencing Market Growth

  • A rise in demand for laminates worldwide, a rise in melamine consumption in the wood adhesive sector, and increased construction activities are driving global melamine market demand.
  • Due to its toxicity, the global market may see slow growth during the forecast period.
  • With the increase in demand for decorative laminates, this factor may bring growth opportunities for the melamine market in the forecast period.
  • Construction activity is likely to increase in countries such as China, Japan, India, and the U.S., boosting the demand for wood adhesives. This factor is forecast to drive the global melamine market during the forecast period.

Impact Analysis of COVID-19

Melamine is widely used in the building & construction industries to make laminates, including kitchen cabinets, countertops, partitions, flooring, and furniture. As a result of the COVID-19 outbreak, residential construction ceased amid lockdown. Paint and coating manufacturing facilities in various countries had to shut down amid country-wide lockdowns. Consequently, the demand for melamine, a material used for surface coatings, has declined. As a result, the COVID-19 pandemic had negatively impacted the global market.

However, the construction industry is recovering rapidly and is likely to grow in the coming years, stimulating demand in the melamine market.

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Regional Insights

Asia-Pacific accounted for the largest share of the melamine market in 2020. Due to the rise in construction activities and increased demand for laminates, wood adhesives, and paints & coatings in countries such as China, India, and Japan, usage of melamine has increased in the region. China dominates the melamine market in Asia-Pacific. In recent years, China’s construction industry has experienced significant growth despite fluctuating growth in the real estate sector due to the extensive development of rail and road infrastructure to cope with the expansion of industrial and service sectors. Due to the dominance of state-owned enterprises in the construction industry, increased government spending boosts the industry. Increased government spending may lead to an increase in demand for melamine materials in the future. Thus, it will result in a significant impact on the regional market during the forecast period.

Leading Competitors

The leading prominent companies profiled in the global melamine market are:

  • Haohua Junhua Group Co, Limited
  • OCI Nitrogen
  • BASF SE
  • Cornerstone Chemical Company
  • Qatar Melamine Company
  • Sichuan Golden Elephant Chemical
  • Mitsui Chemicals, Incorporated
  • Nissan Chemical Industries. Limited
  • Methanol Holdings Limited
  • Borealis AG
  • Other Prominent Players

Scope of the Report

The global melamine market segmentation focuses on Type, Application, and Region.

Segmentation based on Type

  • Melamine Foam
  • Melamine Resin

Segmentation based on Application

  • Laminates
  • Thermoset Plastics
  • Wood Adhesives
  • Surface Coatings
  • Others

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Segmentation based on Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What are the key findings of the report?

•This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
•The report offers the current state of the market and future prospects for various geographical regions.
•This report provides both qualitative and quantitative information about the competitive landscape of the market.

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