Global Melamine Market

Melamine Market Size, Share, Growth Analysis, By Product(Resin and Foam), By Application(Laminates, Wood Adhesives, Molding Compounds, Paints & Coatings), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2384 | Region: Global | Published Date: February, 2024
Pages: 184 | Tables: 62 | Figures: 75

Melamine Market News

  • In March 2023, BASF announced that it would be investing $100 million in a new melamine plant in China. The plant is expected to be operational in 2025 and will have a capacity of 200,000 tons per year.
  • In February 2023, Kronospan announced that it would be investing $100 million in a new melamine plant in the United States. The plant is expected to be operational in 2024 and will have a capacity of 150,000 tons per year.
  • In January 2023, Wenhua Chemical announced that it would be investing $500 million in a new melamine plant in China. The plant is expected to be operational in 2025 and will have a capacity of 500,000 tons per year.
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Melamine Market size was valued at USD 8.9 billion in 2021 and is poised to grow from USD 9.36 billion in 2022 to USD 13.35 billion by 2030, at a CAGR of 5.20% during the forecast period (2023-2030).

To expand their product portfolio and their market position, these significant players are using both organic and inorganic tactics, such as mergers and acquisitions, partnerships and collaboration, and new product releases. 'OCI Company Ltd. (South Korea)', 'BASF SE (Germany)', 'Cornerstone Chemical Company (United States)', 'Mitsui Chemicals, Inc. (Japan)', 'Hexion Inc. (United States)', 'Sichuan Chemical Works Group Ltd. (China)', 'Nissan Chemical Industries, Ltd. (Japan)', 'Borealis AG (Austria)', 'Mitsui & Co., Ltd. (Japan)', 'Methanol Holdings (Trinidad) Limited (Trinidad and Tobago)', 'Borealis AG (Austria)', 'EuroChem Group AG (Switzerland)', 'Grupa Azoty Zakłady Azotowe Kędzierzyn S.A. (Poland)', 'Qatar Melamine Company (Qatar)', 'Jilin Forest Industry Group Co., Ltd. (China)', 'BASF-YPC Company Ltd. (China)', 'JSC Grodno Azot (Belarus)', 'Mitsui Chemicals Asia Pacific, Ltd. (Singapore)', 'Jiangsu Tianxin Chemical Co., Ltd. (China)', 'Luxi Chemical Group Co., Ltd. (China)'

Melamine is widely used in the construction industry due to its properties such as high heat resistance, durability, and flame retardancy. It is used in the production of laminates, decorative veneers, and coatings for furniture and building materials. The growth in construction and infrastructure development projects globally drives the demand for melamine.

Consumers are increasingly seeking customization and aesthetically pleasing products. Melamine-based laminates offer a wide range of design options, colours, and patterns, enabling manufacturers to meet the demand for personalized and visually appealing surfaces. This trend is particularly prominent in the furniture, interior design, and architectural sectors, driving the demand for melamine laminates.

Due to the high concentration of laminates and adhesives in the region, Asia Pacific held the biggest market share for melamine. Due to expanding infrastructure development and policies that encourage industrial expansion, China, which was the largest market in the Asia Pacific region in 2022, is predicted to continue to dominate the market. Due to the high demand from end-use applications, notably in the Middle East, RoW is anticipated to show substantial development.

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Global Melamine Market

Report ID: SQMIG15A2384

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