[FURL=https://www.industryarc.com/Research/Melamine-Market-Research-510786?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Melamine Market[/FURL] size is forecast to reach $2.6 billion by 2026, after growing at a CAGR of 4.2% during 2021-2026. Globally, the rising demand for melamine owing to its durable, hard, glossy, and strong resistance to heat, moisture, stain, and wear properties, from end-use industries such as building and construction, automotive, food and beverage, and textile applications is estimated to drive the market growth. Increasing use of melamine resin for the production of wood adhesive and application in bonding medium density fiberboard and hardwood with laminates are substantially contributing to the melamine market growth. Moreover, the increasing usage of melamine resins and melamine foams in high resistance concrete, thermoset plastics, and carbon nanotubes is estimated to drive the melamine industry growth in the forecast era.Impact of Covid-19
The emergence of coronavirus disease (COVID-19) and consequent lockdowns by governments has halted the operation of major end-use industries in several countries in the year 2020. Moreover considering the new normal conditions, it is presumed that the melamine market will return to the normal situation and enhance the market growth.
Key Takeaways
Increasing residential and renovation activities are projected to see strong demand for laminate-based furniture and storage cabinets, and wood adhesives, which is further anticipated to drive the market growth.
Rising usage of melamine resins in a number of textile applications to improve the wrinkle resistance in cotton and cotton-synthetic blends is estimated to boost the market for melamine in the upcoming years.
Melamine foams exhibit a high sound absorption potential and possess an inherent flame retardant properties. As a result, the foams are used in buildings, acoustic panels, suspension blankets and ceiling panels.
Growing public concerns about the formaldehyde emission of melamine-based thermoset plastics, such as food containers and dinnerware, are likely to restrict the development of the melamine marker.
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Melamine Market Drivers
Growing Demand for Melamine from the Automotive Sector will Drive the Market Growth.
Increasing Usage of Melamine Fibers in Various Applications is Driving the Market Growth
Melamine market are Borealis AG, OCI NV, Grupa Azoty Zaklady Azotowe Pulawy S.A., INEOS Group, BASF SE, Cornerstone Chemical Company, Qatar Melamine Company, Mitsui Chemicals, Inc., NISSAN CHEMICAL INDUSTRIES. LTD., and Sichuan Chemical Works Group Ltd (SCWG)
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