One major element driving the market expansion of melamine formaldehyde is the construction industry's robust rise. Buildings that rise and other robust structures are constructed using it as a concrete plasticizer. When combined with wood waste products, which are commonly used in the construction industry, it also aids in meeting green building regulations. As a result, the melamine formaldehyde market is anticipated to rise along with the construction industry. Once more, it is projected that the population's enormous growth in combination with housing projects' rapid growth will promote the melamine formaldehyde market's expansion. The market's predicted expansion will be accelerated by China's high demand for melamine formaldehyde. A significant market trend is manufacturers increasing their manufacturing capacity. For instance, in December 2019, BASF increased the grade of Basotect UF+, which has improved emission qualities, in their line of melamine resin foam. It is the perfect foam for insulating train cars and heating, ventilation, and air conditioning (HVAC) systems in buildings since it is lightweight and flexible. The present trend is an increase in mergers and acquisitions among manufacturers for corporate expansion.
Coherent Market Insights estimates that having grown at a CAGR of 6.8% throughout the projection period, the global Melamine Formaldehyde Market was valued at US$ 21927.41 million in 2021. (2022 to 2030).
Leading Companies in the Melamine Formaldehyde Industry:
1. Chang Chun Plastics Co. Ltd.,
The company was established in 1949 and is based in Taipei City, Taiwan. The business produces paraformaldehyde, epoxy resins, melamine moulding compounds, and other items in addition to producing and distributing plastic materials. At the moment, it is among the biggest plastics producers in the world.
2. Georgia Pacific Chemicals LLC,
The business, which has its headquarters in Atlanta, Georgia, United States, was established in 1959. The business creates chemicals for a range of goods in addition to resins, coatings, additives, catalysts, and other concomitant goods. Georgia-Pacific Mills will be honoured by the EPA in 2021 for its ongoing commitment to energy efficiency. Georgia-Pacific opened two new manufacturing facilities to produce recyclable padded mailers for online sales in 2022.
3. Chemiplastica SpA,
The company was established in 1955 and has its headquarters in Italy. The business produces moulding compounds and supplies moulding compounds made from cellulose, resins, and fillers for a variety of uses, including buttons, ashtrays, household items, appliances, and many other things. Engineers, manufacturers, and other industrial clients from all over the world are served by Chemiplastica.
4. Mitsui ChemicalsInc,
The business was established in 1997 and is located in Tokyo, Japan. Ethylene, propylene, and other petrochemicals are among the company's offerings, along with basic chemicals, synthetic resins, and fine chemicals. A cooperative research into standardising and optimising chemical logistics was initiated in January 2023 by The Mitsubishi Chemical Group and Mitsui Chemicals, Inc. With the assistance of IBM Japan, Mitsui Chemicals launched a DX-focused HR development programme for production technology staff in October 2022.
5. INEOS Group Holdings SA,
The company was founded in 1998 and is located in Knightsbridge, London. The Business produces petrochemicals and oil products such ethylene oxide, acetate esters, glycol, and polymers through its subsidiaries. One of the biggest chemical manufacturers in the world as well as a prominent player in the oil and gas industry is INEOS.
6. Panasonic Corporation
The company was established in 1918 and has its headquarters in Kadoma, Osaka. The company makes a variety of products, including air conditioners, freezers, microwaves, rice cookers, and washing machines. After purchasing a 20% stake in Blue yonder for 86 billion yen in 2020, Panasonic would purchase the company in March 2021 for US$6.45 billion. The business declared that it would stop producing solar panels in January 2021.
7. OCI Nitrogen BV
The company was established in 2013 and has its headquarters in Netherlands. Fertilizer is provided by OCI Nitrogen B.V. The company creates fertilisers for agricultural crops, grasslands, and ammonia, among other things. OCI Nitrogen is the largest producer of melamine in the world and one of the market leaders in Europe for the manufacture of mineral fertilisers.
*Definition: Melamine formaldehyde is a stiff polymer with a white appearance. Due to its thermosetting plastic characteristics, it is one of the toughest polymers. It provides exceptional resistance to UV rays, chemicals, moisture, and heat.
