Southeast Asia Melamine Market Size (2024 - 2029)

The Southeast Asia melamine market is projected to experience growth, driven by increasing demand from the construction industry for laminates, coatings, and wood adhesives. Despite challenges posed by alternative materials like liquid wood and soy, the market is expected to benefit from opportunities arising from the expanded use of melamine-based foams. The market's recovery post-pandemic, fueled by demand across various applications, underscores its potential for expansion over the forecast period.

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Market Size of Southeast Asia Melamine Industry

Southeast Asia Melamine Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %
Market Concentration Low

Major Players

Southeast Asia Melamine Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Melamine Market Analysis

The Southeast Asia Melamine market is anticipated to register a CAGR greater than 5% during the forecast period.

The COVID-19 pandemic has significantly impacted the melamine market by directly affecting production and demand, creating supply chain and market disruptions, and having a financial impact on firms and financial markets. However, the market recovered significantly in 2021, owing to rising demand from various end-use applications, including laminates, wood adhesives, and others.

  • Over the short term, growing demand for laminates, coatings, and wood adhesives from the construction industry is expected to drive the market's growth.
  • However, the availability of alternatives such as liquid wood, soy, and powder coatings is likely to hinder the expansion of the studied market.
  • Nevertheless, the focus on the rising use of melamine-based foams is likely to act as an opportunity in the future for the surveyed market and is. It is expected to create lucrative growth opportunities for the studied market over the forecast period.

Southeast Asia Melamine Industry Segmentation

Melamine is a nitrogen-rich organic chemical molecule with the formula C3H6N6 used to manufacture glues, laminates, molding compounds, paints, and flame retardants, among other things. It is commercially produced from two primary materials: urea and dicyandiamide. Melamine is an organic molecule that, when coupled with formaldehyde, generates a thermosetting plastic with a long shelf life. This plastic is blended with a paper basis to form the laminate, which protects a wide range of materials and household products. The Southeast Asia melamine market is segmented by application and geography. By application, the market is segmented into laminates, wood adhesives, molding compounds, paints and coatings, and other applications (flame retardants and textile resins) The report also covers the market sizes and forecasts for the melamine market in 5 countries across Southeast Asia region. For each segment, the market sizing and forecasts have been done based on volume (kilotons).

Application
Laminates
Wood Adhesives
Molding Compounds
Paints and Coatings
Other Applications (Flame Retardants and Textile Resins)
Geography
Indonesia
Malaysia
Philippines
Thailand
Vietnam
Rest of South-East Asia
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Southeast Asia Melamine Market Size Summary

The Southeast Asia melamine market is poised for significant growth, driven by increasing demand from the construction industry for laminates, coatings, and wood adhesives. The market experienced disruptions due to the COVID-19 pandemic but rebounded strongly in 2021, fueled by rising demand in various end-use applications such as laminates and wood adhesives. Despite the presence of alternative materials like liquid wood and soy-based products, the market is expected to benefit from the growing use of melamine-based foams, which presents lucrative opportunities for future expansion. Melamine resins are favored for their durability, stain resistance, and cost-effectiveness, making them a popular choice for furniture, flooring, and kitchen cabinets.

Indonesia stands out as a dominant player in the Southeast Asia melamine market, with its expanding construction sector and robust demand for laminates and coatings. The country's strategic focus on infrastructure development has bolstered its construction industry, contributing significantly to its GDP. Indonesia's position as a leading supplier of wood products and its status as the largest paint and coating market in the region further enhance its market share. The fragmented nature of the market sees major manufacturers like Nissan Chemical Corporation and Petronas Chemicals Group Berhad playing pivotal roles. Notably, Petronas Chemicals Group's upcoming melamine plant in Kedah is set to strengthen its position as a key melamine producer in the region by 2024.

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Southeast Asia Melamine Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand for Laminates, Coatings, and Wood Adhesives from the Construction Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Availability of Alternatives such as Liquid Wood, Soy, and Powder Coatings

      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 Buyers

      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

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Laminates

      2. 2.1.2 Wood Adhesives

      3. 2.1.3 Molding Compounds

      4. 2.1.4 Paints and Coatings

      5. 2.1.5 Other Applications (Flame Retardants and Textile Resins)

    2. 2.2 Geography

      1. 2.2.1 Indonesia

      2. 2.2.2 Malaysia

      3. 2.2.3 Philippines

      4. 2.2.4 Thailand

      5. 2.2.5 Vietnam

      6. 2.2.6 Rest of South-East Asia

Southeast Asia Melamine Market Size FAQs

The Southeast Asia Melamine Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Nissan Chemical Corporation, Borealis Agrolinz Melamine GmbH, Mitsui Chemicals Asia-Pacific Ltd, Wakomas Chemical Sdn. Bhd. and Petronas Chemicals Group Berhad (PCG) are the major companies operating in the Southeast Asia Melamine Market.

Southeast Asia Melamine Report Snapshots

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