HEXAMETHYL METHOXY MELAMINE (HMMM) MARKET ANALYSIS

Hexamethyl Methoxy Melamine (HMMM) MarketSize and Trends

Market Dynamics

• A major driver for growth of the global hexamethyl methoxy melamine market is growing construction industry. For instance, in 2015, global construction perspectives and oxford economics together stated that the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and growing by an average annual rate of 3.9% by 2030.
• However, toxicity arising due to consumption and disposal of hexamethyl methoxy melamine may hamper growth of the global hexamethyl methoxy melamine market. For instance, according to a study published by the National Center for Biotechnology Information in May 2015, presence of HMMM was found in 60 of 117 water samples from three river systems, with concentrations ranging between 10 and 880 ng/L.

Market Outlook

• According to Coherent Market Insights’ analysis, Asia Pacific is expected to be the fastest growing region in hexamethyl methoxy melamine market over the forecast period, owing to the rising use of fillers and additives in paints and coatings industry. According to the India Brand Equity Foundation in 2011, paints and coatings industry generated US$ 3.6 billion and was estimated to grow to US$ 8.2 billion in 2017.
• China is the world’s largest consumer of hexamethyl methoxy melamine, owing to growing chemicals, paints, and coatings sector in the country