Melamine Market Growth Analysis | 2022-2028

Market Insights

The melamine market was estimated at USD 1.8 billion in 2022 and is likely to grow at a CAGR of 4.3% during 2022-2028 to reach USD 2.1 billion in 2028.

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Market Dynamics

Introduction

Melamine is an organic compound with the formula C3H6N6. It is a white, crystalline powder that is soluble in water and other polar solvents. Melamine is widely used in various industries due to its unique chemical properties, including its ability to form stable complexes with various other chemicals and its high nitrogen content.

Melamine is used in various industries due to its unique properties. The first one is construction and building materials, wherein it is used to produce laminates, decorative overlays, and adhesives for flooring and other building materials. It is also used as a flame retardant in insulation materials.

Market Drivers

• Growth in the infrastructural sector: Governments of leading nations are investing in infrastructure development, wherein, Singapore ranks 1^st followed by Qatar, Canada, and so on. According to Oxford Economics, global spending for infrastructure will exceed $9 trillion by 2025, facilitating the growth of the construction and furniture industries. The furniture industry’s growing demand for melamine-based laminates and coatings is due to the material’s ability to strength, heat, and scratch resistance.
• Utility in textile industry: Melamine’s utility in the textile industry is as a flame retardant. Melamine-treated textiles become crucial where there are fire safety mandates, such as in the automotive industry. Additionally, they are used in surface coatings of automobiles and to make decorative laminates for automobile interiors.
• Production of packaging materials: Growing consumption of packaged food and several other packaged items consequently facilitates the production of packaging materials. Melamine is used for the production of these packaging materials due to its durability and heat resistance.

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Challenges:

• Raw material price volatility: The melamine industry is prone to volatility in the cost of raw materials like urea. Melamine prices are subject to many variables, including supply-demand, production capacity, and political events, having the potential to affect the cost of production of melamine, profit margins for producers, and indirectly leading to price volatility in the end consumer, which can impede the growth of the market.
• Environmental concerns: Increasing environmental issues related to chemical releases and waste management practices have resulted in the regulatory requirements, demanding manufacturers to follow certain standards and safety procedures, like investing in cleaner production technologies and environmentally friendly materials, creating another level of complexity for their operations.

Segment Analysis

By Type

In 2022, the melamine resin segment held a significant share of the market, propelled by rapid industrialization worldwide. The demand for melamine resin was further boosted by various industries, such as construction, automotive, furniture, chemical, and packaging. For instance, in the construction industry, melamine resin is used to saturate decorative papers that are later laminated under high heat and pressure.

Additionally, its advantageous properties, such as thermal insulation and chemical resistance, make it an ideal material for manufacturing automobile interiors as decorative laminates and surface coatings, further increasing its demand. Furthermore, factors such as rapid urbanization and the utilization of melamine resin and bamboo mixtures for producing eco-friendly products are expected to continue driving the demand for melamine during the forecast period.

Regional Insights

The Asia-Pacific region held the largest share of the market in 2022, primarily due to the rise in construction activities and increased demand for laminates, wood adhesives, and paints & coatings in countries like China, India, and Japan. Among these countries, China dominates the melamine market, despite the volatile growth in the real estate sector.

The Chinese government's significant investment in rail and road infrastructure to accommodate the expansion of the industrial and service sectors has resulted in a substantial growth rate of approximately 12.8% in the country's construction industry.

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Key Players

Major industry players are utilizing both organic and inorganic strategies, including mergers and acquisitions, partnerships, and collaborations, as well as launching new products to expand their product offerings and augment their market presence. Some of the players operating in the global market include:

• BASF SE
• Borealis AG
• China Haohua Chemical Group Co., Ltd
• Cornerstone Chemical Company
• ECEC
• Golden Elephant Chemical
• GrupaAzoty
• GSFC Ltd.
• Hexion
• Methanol Holdings (Trinidad) Limited
• Mitsui Chemicals, Inc.
• Nissan Chemical Corporation
• OCI Nitrogen
• Prefere Resins Holding GmbH
• Qatar Melamine Company
• Sichuan Golden Elephant Chemical
• XinjiJiuYuan Chemical Industry Co., Ltd.
• Other Prominent Players

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s melamine market realities and future market possibilities for the forecast period of 2022 to 2028. After a continuous interest in our melamine market report from the industry stakeholders, we have tried to further accentuate our research scope to the melamine market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The melamine market is segmented into the following categories:

By Type

• Melamine Foam
• Melamine Resin

By Application Type

• Laminates
• Molding Compounds
• Paints and Coatings
• Others

By End-Use Industry Type

• Automotive Industry
• Chemical Industry
• Construction Industry
• Textile Industry

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].