Melamine Formaldehyde Market Research Report- Forecast to 2030

Melamine Formaldehyde Market Research Report Information By Type (Methylated, Non-Methylated Formaldehyde), By End-use (Automotive, Construction and Building, Electronics, Wood & Furniture, Packaging, Chemicals, Other), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/CnM/3322-HCR | 135 Pages | Author: Chitranshi Jaiswal | March 2024         

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Global Melamine Formaldehyde Market Overview

The Melamine Formaldehyde Market Size was valued at USD 0.75 Billion in 2022. The Melamine Formaldehyde industry is projected to grow from USD 0.80 Billion in 2023 to USD 1.16 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.54% during the forecast period (2023 - 2030). 

Melamine formaldehyde, often known as melamine resin, is made by polymerizing formaldehyde and melamine. Because it is a thermosetting plastic with a net-like structure and cross-linked polymers, it is the toughest polymer. It is not feasible to remold or melt it, as it has been subjected to chemical alterations throughout the operation. Moisture resistance, hardness, weather resistance, temperature resistance, and other characteristics are among the most important. Melamine formaldehyde is a synthetic resin made from the condensation of two monomers: melamine and formaldehyde. Melamine formaldehyde is a heat and fire-resistant thermosetting aminoplast that is resilient, rigid, and flexible. Particleboard and plywood adhesives, laminated tabletops and countertops, automotive surface coatings, and dishwasher-safe tableware all use this chemically resistant resin. Melamine formaldehyde contains a lot of nitrogen. Melamine sublimation absorbs a significant amount of heat energy and is hence employed as a heat sink in fire scenarios. As a result, melamine-formaldehyde can be used instead of halogen-based flame retardants. It is mostly found in specialty paints, textiles like firefighting gear, and flexible urethane foam, which is utilized in the bedding industry, as well as furniture and electronics.
Melamine Formaldehyde Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Melamine Formaldehyde Market Trends

  • Technological advancement will drive the growth of the market

there have been significant advancements in the production and processing of Melamine Formaldehyde resins, leading to improved performance and cost-effectiveness. For instance, the development of new curing agents and additives has led to the production of Melamine Formaldehyde resins with improved flow and processing properties. Additionally, the development of new formulations and manufacturing processes has led to the production of Melamine Formaldehyde resins with improved color stability, scratch resistance, and adhesion properties. Furthermore, the growing focus on sustainability and eco-friendliness is also expected to drive the growth of the market. Melamine Formaldehyde resins are known for their low formaldehyde emissions and low toxicity, making them an ideal choice for eco-friendly applications. Overall, technological advancements are expected to play a significant role in driving the growth of the market.

Melamine Formaldehyde Market Segment Insights

Melamine Formaldehyde Type Insights

The market segmentation, based on Type, includes Methylated and Non-Methylated Formaldehyde. The Methylated segment may dominate the market. Due to its growing use in coatings, textiles, and other industries.

Melamine Formaldehyde End-use Insights

Based on End-use, the market segmentation includes Automotive, Construction and Building, Electronics, Wood & Furniture, Packaging, Chemicals, Other. The construction and building segment holds a major share of the market owing to the growing use of polymer materials in flame retardant materials, flooring, dry baseboards, and others. Investors in the automotive industry are encouraging manufacturers to use melamine resins as a substitute for heavy materials due to their eco-friendly, corrosion resistance, and durability.

Figure 2: Melamine Formaldehyde Market, by Type, 2022 & 2030 (USD Billion)
Melamine Formaldehyde Market, by Type, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Melamine Formaldehyde Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is currently the dominant region in the market. The region has a significant share of the market due to the increasing demand for the product in various end-use industries. Countries such as China, India, Japan, and South Korea are the major consumers of Melamine Formaldehyde in the Asia-Pacific region. The increasing industrialization, infrastructure development, and urbanization in these countries are driving the demand for Melamine Formaldehyde in applications such as laminates, coatings, adhesives, and molding compounds. In addition, the availability of low-cost raw materials and labor in the region is also contributing to the growth of the market. Many Melamine Formaldehyde manufacturers have set up their production facilities in the Asia Pacific to take advantage of these cost advantages and cater to the growing demand in the region.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Melamine Formaldehyde Key Market Players & Competitive Insights

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Melamine Formaldehyde industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Melamine Formaldehyde industry to benefit customers and expand the market sector. Major market players, including BASF, Huntsman International, Hexion, Mitsui Chemicals, Allnex group, and others are attempting to increase market demand by funding R&D initiatives.

BASF SE is a German multinational chemical company. BASF's product portfolio includes a wide range of chemicals, plastics, performance products, agricultural products, and oil and gas. The company operates through six business segments, which include Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. The Chemicals segment produces a variety of basic chemicals, intermediates, and specialties, including solvents, amines, plasticizers, and monomers. The Materials segment produces performance materials such as polyurethanes, engineering plastics, and foams. The Industrial Solutions segment produces products for various industrial applications, including coatings, adhesives, and construction chemicals. The Surface Technologies segment produces coatings, catalysts, and battery materials. The Nutrition and Care segment produces ingredients for the food and nutrition industry, as well as personal care products. Finally, the Agricultural Solutions segment produces herbicides, fungicides, and insecticides for the agricultural industry.

Huntsman Corporation is an American multinational chemical company that produces a wide range of chemical products. Its product portfolio includes polyurethanes, performance products, advanced materials, and pigments and additives. The company operates through four business segments, which include Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment produces polyurethane chemicals, such as MDI, TDI, polyols, and polyurethane systems, which are used in a wide range of applications, including insulation, construction, automotive, and furniture. The Performance Products segment produces a variety of products, including surfactants, amines, and maleic anhydride, which are used in industries such as personal care, agrochemicals, and oil and gas. The Advanced Materials segment produces specialty chemicals and materials, including epoxy resins, adhesives, and specialty coatings. The Textile Effects segment produces dyes and chemicals for the textile industry.

Key Companies in the Melamine Formaldehyde market include

  • BASF

  • Huntsman International

  • Hexion

  • Mitsui Chemicals

  • Allnex group

  • INEOS Melamines

  • Chemiplastica

  • Hexza Corporation Berhad

  • Chemisol Italia

  • Borealis Agrolinz Melamine

Melamine Formaldehyde Industry Developments

March 2022: BASF SE provides melamine-based coatings that are applied to wood to improve its appearance and durability. Its molding components also make the surface robust, with properties including hardness, heat resistance, and chemical resistance, making it ideal for making wiring equipment and serving trays.

Melamine Formaldehyde Market Segmentation

Melamine Formaldehyde Type Outlook

  • Methylated

  • Non-Methylated Formaldehyde

Melamine Formaldehyde End-use Outlook

  • Automotive

  • Construction and Building

  • Electronics

  • Wood & Furniture

  • Packaging

  • Chemicals

  • Other

Melamine Formaldehyde Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 0.75 Billion
Market Size 2023 USD 0.80 Billion
Market Size 2030 USD 1.16 Billion
Compound Annual Growth Rate (CAGR) 5.54% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, End-use, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled BASF, Huntsman International, Hexion, Mitsui Chemicals, Allnex group, INEOS Melamines, Chemiplastica, Hexza Corporation Berhad, Chemisol Italia, Borealis Agrolinz Melamine
Key Market Opportunities Low fire susceptibility and durable properties are important attributes
Key Market Dynamics It is growing in use in coating, crosslinking, textile, nonwoven, and papermaking applications.

Frequently Asked Questions (FAQ) :

The Melamine Formaldehyde market size was valued at USD 0.75 Billion in 2022

The market is projected to grow at a CAGR of 5.54% during the forecast period, 2023-2030

Asia Pacific had the largest share of the Melamine Formaldehyde market

The key players in the market are BASF, Huntsman International, Hexion, Mitsui Chemicals, Allnex group, INEOS Melamines, Chemiplastica, Hexza Corporation Berhad, Chemisol Italia, Borealis Agrolinz Melamine

The Methylated category dominated the market in 2022

Construction and Building had the largest share in the market for Melamine Formaldehyde

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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