MELAMINE FORMALDEHYDE MARKET ANALYSIS
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).
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.
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