The global melamine market size is expected to reach USD 2,578.4 million by 2030 according to a new study by Polaris Market Research. The report “Melamine Market Share, Size, Trends, Industry Analysis Report By Type; By Application; By End-Use (Construction, Automotive, Chemical, Textiles, Others); By Region, Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Melamine is a natural chemical that is frequently mixed with formaldehyde to generate this resin, a synthesized material that is fire and heat-resistant. Increasing the application of products for flooring, whiteboards, flame retardant materials, tableware, and industrial filters is expected to boost the product demand over the forecast period.
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Furthermore, a rise in investments in research development, as well as a growth in need from developing markets, are expected to generate lucrative possibilities for the industry throughout the projection period. The construction end-use segment is expected to hold the largest industry share over the forecast period due to increasing global construction activities. Increasing demand for construction applications including laminates, wood adhesives, surface coatings, concrete plasticizers, molding compounds, and others are expected to fuel the segment growth.
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Asia Pacific is expected to dominate the global industry over the forecast period due to increasing construction activities, growth in the automobile sector, along increasing disposable income of people. The demand in Europe is expected to increase over the forecast period due to the increasing demand for decorative wood panels along with the growth in the automotive industry in Germany.
Key players of the market include:
BASF SE, Allnex Belgium S.A., Borealis AG, Chemiplastica SP, Grupa Azoty Zaklady Azotowe Pulawy S.A. (ZAP), Cornerstone Chemical Company, Henan Zhongyuan Dahua Group Co Ltd., Haohua Junhua Group Co., Ltd., Methanol Holdings (Trinidad) Limited, Mitsui Chemicals Inc, Nissan Chemical Industries. Ltd., Mevion Medical Systems, Sichuan Golden Elephant Chemical Co, Sichuan Chemical Holdings Co. Ltd., and Xinji Jiuyuan Chemical Co. Ltd.
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