Melamine Formaldehyde Market - Price, Size, Share & Growth

Melamine formaldehyde is a hard polymer that appears white in colour. It is one of the hardest polymers due to its thermosetting plastic properties. It has excellent UV, chemical, moisture, and thermal resistance properties. Table tops, wood adhesives, surface coatings and laminated countertops are some of the major applications of the melamine formaldehyde.

Global melamine formaldehyde market was valued at US$ 26.72 Billion in 2022 in terms of revenue, exhibiting a CAGR of 7.7% during the forecast period (2023 to 2030).

Drivers

High demand for melamine formaldehyde

Robust growth in the construction industry is a prime factor propelling the market growth of the melamine formaldehyde. It is used as concrete plasticizer in the construction of rising buildings and other durable structures. Moreover, it helps to comply with green building standards when added to wood waste products which are widely used in the construction industry. Thus, growth in the construction industry is expected to augment the market growth of the melamine formaldehyde.

Rapid growth in the housing projects coupled with the tremendous growth in the population is again anticipated to foster the market growth of the melamine formaldehyde. High demand for melamine formaldehyde from China is expected to accelerate the market growth.

Figure 1. Global Melamine Formaldehyde Market Value Share (%), By Region, 2022

MELAMINE FORMALDEHYDE MARKET

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On the basis of region in 2022, the Asia Pacific region has accounted the largest market share of 40% in terms of value, followed North America and Europe. The growing market in Asia pacific region is result of growing construction market in countries like China, India, and Japan.

Market Restraints

The fluctuating price of raw materials used in the production of the melamine-formaldehyde

The fluctuating price of raw materials used in the production of the melamine-formaldehyde is expected to hinder the market growth. Melamine formaldehyde is manufactured by natural gas or urea feedstock.

Limited application of melamine formaldehyde as they are used only for surface coatings is leading to slow down of the global consumption of melamine formaldehyde.

Market Trends

Expanding production capacity of the manufacturer is a key trend in the market. For instance, in March 2022, BASF SA, 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. A growing merger and acquisition among manufacturer for business expansion is the current trend.

Melamine Formaldehyde Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 26.72 Bn
Historical Data for:	2018 to 2022	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	7.7%	2030 Value Projection:	US$ 48.53 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin Americ Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific Middle East & Africa : Middle East & Africa
Segments covered:	By Application: Tableware, Laminates, Paints & Coatings, Adhesives, Sanitary Ware, Electrical & House, and Others
Companies covered:	BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemical LLC, Chemiplastica SPA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui Chemicals Inc., INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc., Panasonic Corporation, and OCI Nitrogen BV, Allnex Belgium SA, Eurotecnica, Chimica Pomponesco SPA, Qatar Melamine Company, Hexza Corporation Board
Growth Drivers:	High demand for melamine formaldehyde Robust growth in the construction industry
Restraints & Challenges:	The fluctuating price of raw materials used in the production of the melamine formaldehyde

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COVID-19 Impact Analysis

The COVID-19 outbreak impacted the melamine formaldehyde market negatively. The market witnessed a sharp decline in demand for melamine formaldehyde from various industries, such as furniture, paper and construction industry. The COVID-19 pandemic caused a ban on imports and export, thereby disrupting the supply chain and hampering the melamine formaldehyde market growth.

Figure 2. Global Melamine Formaldehyde Market Value Share (%), By Application, 2022

MELAMINE FORMALDEHYDE MARKET

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On the basis of application in 2022, the laminates segment has accounted the largest market share of 32% in terms of value, followed adhesives and paints & coatings respectively

Competitive Section

Major players operating in the global melamine formaldehyde market include BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemical LLC, Chemiplastica SPA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui Chemicals Inc., INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc., Panasonic Corporation, and OCI Nitrogen BV, Allnex Belgium SA, Eurotecnica, Chimica Pomponesco SPA, Qatar Melamine Company, Hexza Corporation Board

About Author

Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.

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Frequently Asked Questions

The global Melamine Formaldehyde Market size was valued at USD 26.72 billion in 2023 and is expected to reach USD 48.53 billion in 2030.

The global melamine formaldehyde was valued at US$ 26.72 Bn and is expected to grow at a CAGR of 7.7%.

High demand for melamine formaldehyde is expected to drive the global melamine formaldehyde market growth during the forecast period.

Robust Growing Construction Industry is the opportunity in the market.

The fluctuating price of raw materials used in the production of the melamine formaldehyde is hampering the market growth.

Major players operating in the market include BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemical LLC, Chemiplastica SPA, MPC Ferrostaal GmbH, Chemisol Italia Srl, Mitsui Chemicals Inc., INEOS Group Holdings SA, Nissan Chemical Industries Ltd., Borealis Agrolinz Melamine GmbH, Momentive Specialty Chemicals, Inc., Panasonic Corporation, and OCI Nitrogen BV, Allnex Belgium SA, Eurotecnica, Chimica Pomponesco SPA, Qatar Melamine Company, Hexza Corporation Board