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

Global 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).

Due to rising demand from the laminates and wood adhesives markets, the worldwide melamine industry is anticipated to expand significantly. The melamine market is anticipated to be driven mostly by rising disposable income and shifting consumer lifestyles. A lot of different dinnerware and food containers are made with melamine formaldehyde. Additionally, it is projected that expanding melamine use in carbon nanotubes and high-resistance concrete will accelerate market expansion. The Canadian Construction Association claims that the construction industry is one of Canada's greatest jobs and a key factor in the prosperity of the nation's economy. The economy of the nation is supported by it. According to the Canadian Construction Association, the country's economy benefits from the construction industry annually to the tune of USD 141 billion and employs more than 1.4 million people. The sector contributes 7.5% of the nation's Gross Domestic Product (GDP). Melamine is increasingly in demand in the automotive sector due to its expanding use in a variety of automotive applications, which is one of the major forthcoming trends in this market. The market is seriously threatened by the melamine's level of toxicity, though.