Professional research study says global melamine formaldehyde market size was valued at $430 million in 2015, and is anticipated to grow at a CAGR of 6.9% to reach $687 million by 2022, Ask Report Sample @ http://www.researchbeam.com/melamine-formaldehyde-market/request-sample
Research Beam added report on “World Melamine Formaldehyde Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Melamine Formaldehyde Market, by Application (Laminates, Wood Adhesives, Molding Compounds, Surface Coatings, and Others) – Global Opportunity Analysis and Industry Forecast, 2014-2022”
Melamine formaldehyde is a synthetic resin obtained by chemical combination of melamine, a translucent solid made from urea and formaldehyde, a highly reactive strong smelling gas derived from methane. The reaction product of melamine, urea, and related compounds with formaldehyde are called aminoplast. The hardness and chemical & moisture resistance quality of melamine resin is attributed to its complex and interlinked polymer structure. The main application of the polymer is in wood adhesives, laminated counter tops, table tops, and surface coatings. The report focuses on melamine formaldehyde & its major applications as well as analyzes the current market trends. It also suggests the future growth opportunities for key market players in different geographies. In addition, it highlights numerous factors that influence the growth of the global market such as drivers, restraints and growth opportunities. The data has been gathered majorly from the secondary sources such as company publications, government statistics, Hoovers, Factiva, and similar others. Collected data after analysis has been validated from the C-level executives and directors of the companies present in the global melamine formaldehyde market.
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The high demand for melamine formaldehyde in construction, automotive, and furniture industries is anticipated to drive the market during the forecast period. However, strict government regulations and fluctuation in cost of raw materials could hamper the market growth. Furthermore, melamine formaldehyde has replaced urea formaldehyde, creating another growth opportunity for this market.
Melamine formaldehyde or melamine resin is formed via polymerization reaction of melamine and formaldehyde. It is known as one of the hardest polymer as it is a thermosetting plastic having net-like structure of cross-linked polymers. Once it has undergone initial chemical change during processing, melting & remolding is not possible. The main features of the plastic are its hardness, moisture resistance, thermal resistance, weather protection, and others.
Furthermore, increased demand in China as well as construction, furniture, packaging, automotive, and other end user industries fuel the growth of global melamine formaldehyde market.
The report includes market segmentation on the basis of application and geography. By application, the melamine formaldehyde market is sub segmented into laminates, wood adhesives, molding compounds, surface coatings; and others including particleboards, overlay materials, and floor tiles. Among these, laminates segment dominated the market, followed by wood adhesives. However, the surface coating application has witnessed high growth rate due to augmentation in industries related to coatings.
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Asia-Pacific Melamine Formaldehyde Market Review
The global demand for melamine formaldehyde is dominated by Asia-Pacific due to rapid industrialization and urbanization in the region, especially in China. In addition, significant investments in construction and polymer industries has a positive impact on the market. Moreover, China dominated in terms of demand and commercialization of melamine formaldehyde & related products. Hexza Corporation, Mitsui Inc., Nissan Ltd., Allnex, and BASF SE are some of the major players of the region.
Key market segments
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