Melamine resin market has significant growth scope and is estimated to reach USD 2.4 billion by 2025. The reports forecast the melamine resin market by type, end-use industry, and region. It highlights COVID-19 impact on the melamine resin industry.

Description

Melamine Resin Market: by Type (Methylated Formaldehyde and Non-Methylated Formaldehyde), by End-Use Industry (Automotive, Construction and Building, Electronics, Wood & Furniture, Packaging, Chemicals, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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The melamine resin market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the melamine resin industry.

Melamine Resin Market Industry Overview:    

The melamine resin market size is expected to reach USD 2.4 billion by 2025 by projecting a CAGR of 5.6% during the forecast period (2020-2025). Melamine resin, also known as melamine formaldehyde, contains melamine rings in their structure and terminated with multiple hydroxyl groups derived from formaldehyde. Melamine is combined with resin to produce melamine resins by condensation polymerization. Melamine resins are hard, durable, glossy, and exhibit strong resistance to heat, moisture, stain, and wear. A continuous rise in melamine resin in high-pressure laminates, such as arborite, formica, laminate flooring, will further augment the market growth during the forecast period.

Factors Affecting the Melamine Resin Market Over the Forecast Period:

• The use of melamine resin in construction and building, automotive, and packaging industry is rising globally, backed by the rise in smart city projects in developed and emerging economies, such as China and India. 
• The government has made strict rules and regulations to save the environment from the hazardous effects of melamine resin and focus on developing alternatives to melamine resin to fulfill its rising demand across the globe.
• The demand for melamine resin has recently decreased due to its cariogenic effects and increasing public awareness regarding non-hazardous products. These are the few factors that may negatively impact the melamine market growth. 
• Urea is a basic material used in the manufacturing of melamine resin. The prices of urea are very high and volatile, which leads to fluctuation in the short-term demand and supply. This affects the total production cost and affecting the overall market value of melamine resin across the globe.

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Impact of COVID-19 on Melamine Resin Market: 

Due to the COVID-19 outbreak, many industries are suffering from many issues such as a halt in production, lack of supply of raw material due to the imposition of lockdown in various nations. The COVID-19 has significantly impacted the petrochemical industry and jolted the global economy. With the halt in construction projects, especially during April-May 2020, the demand for melamine resin declined from the end-use industries. This is expected to impact the overall market value of melamine resin in 2020.

Melamine Resin Market: Scope of the Report

The report outlines the study of the structure based on the type and end-use industry.

Based on Type, the Global Melamine Resin Market has been segmented into -

• Methylated Formaldehyde
• Non-Methylated Formaldehyde

Based on End-Use Industry, the Global Melamine Resin Market has been segmented into -

• Automotive
• Construction and Building
• Electronics
• Wood & Furniture
• Packaging
• Chemicals 
• Others (Coatings and Rubber and Plastics)

Melamine Resin Market: Geographical Outlook:

The melamine resin market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa. In 2019, Asia Pacific held the largest share in the global melamine resin market, followed by Europe and North America. The Asia Pacific is further estimated to dominate the melamine resin market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.

Key Melamine Resin Competitors: 

The melamine resin market is highly fragmented, with the presence of a large number of small players across the globe. The key melamine resin market players operating in the global market include –

• BASF SE 
• Huntsman International LLC 
• Hexion Inc.
• Mitsui Chemicals, Inc 
• Allnex Group 
• INEOS AG
• Chemiplastica SPA 
• Hexza Corporation Berhad 

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