Melamine Formaldehyde Market Size (2024 - 2029)

The melamine formaldehyde market is projected to experience growth, driven by rising demand in the furniture and construction sectors, despite previous setbacks due to the COVID-19 pandemic and challenges in the automobile industry. The market's expansion is supported by opportunities in the use of melamine formaldehyde in rigid polyurethane foam. The Asia-Pacific region is anticipated to lead the market, fueled by increasing demand from the furniture industry in countries like China and India.

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Market Size of Melamine Formaldehyde Industry

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Melamine Formaldehyde Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.11 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Melamine Formaldehyde Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Melamine Formaldehyde Market Analysis

The Melamine Formaldehyde Market size is expected to grow from 1.47 million tons in 2023 to 1.89 million tons by 2028, at a CAGR of 5.11% during the forecast period (2023-2028).

COVID-19 negatively impacted the melamine formaldehyde market due to the abrupt production halt in various end-user industries. Also, a ban on export and imports disrupted the supply chain, thus hampering the overall market growth. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.

  • The major factors driving the market studied are the growing demand for formica laminated furniture and high growth in the construction industry.
  • The decline in the automobile industry is expected to hinder the market's growth.
  • The increasing usage of melamine formaldehyde in rigid polyurethane foam will likely be an opportunity for the market studied in the coming years.
  • The Asia-Pacific region is likely to dominate the global market, owing to the increasing demand from the furniture industry in China and India.

Melamine Formaldehyde Industry Segmentation

Melamine formaldehyde or melamine resin is a resin with melamine rings terminated with multiple hydroxyl groups derived from formaldehyde. It is mostly used in plywood and particleboard adhesives, dishwasher-safe tableware, automotive surface coatings, and laminated countertops and tabletops. The melamine formaldehyde market is segmented based on type, application, and geography. Based on type, the market is segmented into iso-butylated melamine formaldehyde resin, n-butylated melamine formaldehyde resin, and other types. Based on application, the market is segmented into laminates, wood adhesives, molding compounds, paints and coatings, and other applications. The report also covers the market sizes and forecasts for Melamine Formaldehyde in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).

Type
Iso-butylated Melamine Formaldehyde Resin
n-butylated Melamine Formaldehyde Resin
Other Types
Application
Laminates
Wood Adhesives
Molding Compounds
Paints and Coatings
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Melamine Formaldehyde Market Size Summary

The melamine formaldehyde market is poised for steady growth, driven by increasing demand for formica laminated furniture and robust expansion in the construction sector. The market experienced setbacks due to the COVID-19 pandemic, which caused production halts and supply chain disruptions. However, it is now on a path to recover to pre-pandemic levels. The Asia-Pacific region, particularly China and India, is expected to dominate the global market due to rising demand from the furniture industry. The market's growth is further supported by the increasing use of melamine formaldehyde in rigid polyurethane foam, presenting new opportunities despite challenges posed by a declining automobile industry.

Melamine formaldehyde resins are integral in manufacturing high-pressure laminates used in various applications such as tabletops, kitchen cabinets, and flooring, known for their durability and ease of installation. The demand for laminated furniture, especially ready-to-assemble (RTA) options, is anticipated to drive market expansion. The Chinese furniture industry, a major global player, significantly contributes to this demand, with residential furniture sales leading the market. The fragmented nature of the market sees major players like BASF SE, Hexion, and Georgia Pacific Chemicals holding minimal global shares, indicating a competitive landscape. As construction activities rise, particularly in China, the demand for melamine formaldehyde laminates is expected to increase, solidifying the market's growth trajectory.

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Melamine Formaldehyde Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand for Formica Laminated Furniture

      2. 1.1.2 Growth in the Construction Industry

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Decline in the Automotive Industry

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Price Analysis

    6. 1.6 Technological Snapshot

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Iso-butylated Melamine Formaldehyde Resin

      2. 2.1.2 n-butylated Melamine Formaldehyde Resin

      3. 2.1.3 Other Types

    2. 2.2 Application

      1. 2.2.1 Laminates

      2. 2.2.2 Wood Adhesives

      3. 2.2.3 Molding Compounds

      4. 2.2.4 Paints and Coatings

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Melamine Formaldehyde Market Size FAQs

The Melamine Formaldehyde Market is projected to register a CAGR of 5.11% during the forecast period (2024-2029)

BASF SE, Hexion, Prefere Resins Holding GmbH., Georgia Pacific Chemicals and Arclin, Inc. are the major companies operating in the Melamine Formaldehyde Market.

Melamine Formaldehyde Market Report Snapshots

Melamine Formaldehyde Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)