Melamine Formaldehyde Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Melamine Formaldehyde Market Size and it is segmented by type (methylated melamine formaldehyde, non-methylated melamine formaldehyde, and other types), application (laminates, wood adhesives, molding compounds, paints and coatings, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for Melamine Formaldehyde in volume (Kilotons) for all the above segments.

Melamine Formaldehyde Market Size

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Melamine Formaldehyde Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.11 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Melamine Formaldehyde Market

*Disclaimer: Major Players sorted in no particular order

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Melamine Formaldehyde Market Analysis

The Melamine Formaldehyde Market size is expected to grow from 1.47 million tons in 2023 to 1.89 million tons by 2028, at a CAGR of 5.11% during the forecast period (2023-2028).

COVID-19 negatively impacted the melamine formaldehyde market due to the abrupt production halt in various end-user industries. Also, a ban on export and imports disrupted the supply chain, thus hampering the overall market growth. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.

  • The major factors driving the market studied are the growing demand for formica laminated furniture and high growth in the construction industry.
  • The decline in the automobile industry is expected to hinder the market's growth.
  • The increasing usage of melamine formaldehyde in rigid polyurethane foam will likely be an opportunity for the market studied in the coming years.
  • The Asia-Pacific region is likely to dominate the global market, owing to the increasing demand from the furniture industry in China and India.

Melamine Formaldehyde Market Trends

Laminates Segment to Dominate the Market

  • Melamine formaldehyde resins are applied in manufacturing high-pressure laminates used in tabletops, kitchen cabinets, flooring, furniture, etc.
  • Melamine laminated sheet is in a multilayer structure, including surface paper, decoration paper, and bottom paper. The surface paper protects patterns and designs on the decorative paper, makes the surface brighter, solider, and harder, and provides better wear and corrosion resistance.
  • High durability and ease of installation are major factors driving the demand for laminated flooring.
  • Globally, there is a significant undersupply to meet the demand for housing in Asia-Pacific. In China, property development investment dropped 5.8% year on year to CNY 2.6 trillion (USD 377.8 billion) in the first quarter of 2023.
  • Canada's investment in building construction decreased by 1.3% to USD 20.2 billion in March 2023. Statistics Canada said the residential sector declined 2.1% to USD 14.6 billion in March 2023.
  • With the growing customization trend, furniture players started designing customized RTA furniture to increase their customer base and sales. The growing demand for laminated furniture, especially from the RTA (Ready to assemble furniture), is expected to drive the demand.
  • Oxford Economics estimates that building activity will increase from USD 9.7 trillion in 2022 to USD 13.9 trillion in 2037, led by markets for construction in China, the United States, and India. The demand for laminates composed of melamine formaldehyde is anticipated to rise during the projected period due to the rise in construction activities.
  • Based on the aspects above, the laminates segment is expected to dominate the market in the forecast period.
Melamine Formaldehyde Market - Segmentation Trends

China to Dominate the Asia-Pacific Market

  • The Chinese furniture industry is one of the biggest furniture industries in the world. It is also among the leading furniture producers, consumers, and exporters.
  • The production side of the Chinese furniture industry accounts for nearly 40% of the world's furniture production. Also, according to China Daily, China is likely to witness the construction of 7,000 more shopping centers, estimated to be opened by 2025.
  • Residential furniture sales dominated retail sales due to the availability and innovation of many new residential furniture products in varied designs and material combinations.
  • Among residential furniture, the demand for living and dining room furniture steadily grew in China. The living room and dining room furniture dominated the market with a share of nearly 38% in the overall furniture market, followed by the dining room and kitchen furniture.
  • All these factors are driving the demand for lamination, wood adhesives, and wood coatings in China, providing impetus to the country's wood adhesives and wood coatings products.
  • China's wood adhesive industry is fragmented and dominated by many local players. The industry's sales are expected to witness a CAGR of over 5% during the next five years.
  • According to International Trade Agency, China's overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach roughly USD 4.2 trillion.
  • All the above factors are expected to make China dominant in the Asia-Pacific region.
Melamine Formaldehyde Market - Regional Trends

Melamine Formaldehyde Industry Overview

The melamine formaldehyde market is highly fragmented, where the major players account for a negligible global market share. Some of the major companies in the market (in no particular order) include BASF SE, Hexion, Arclin Inc., Prefere Resins Holding GmbH, and Georgia Pacific Chemicals, among others.

Melamine Formaldehyde Market Leaders

  1. BASF SE

  2. Hexion

  3. Prefere Resins Holding GmbH.

  4. Georgia Pacific Chemicals

  5. Arclin, Inc.

*Disclaimer: Major Players sorted in no particular order

Melamine Formaldehyde Market Concentration
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Melamine Formaldehyde Market News

  • The recent developments about the major players in the market are being covered in the complete study.

Melamine Formaldehyde Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Formica Laminated Furniture

      2. 4.1.2 Growth in the Construction Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Decline in the Automotive Industry

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

    6. 4.6 Technological Snapshot

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Type

      1. 5.1.1 Iso-butylated Melamine Formaldehyde Resin

      2. 5.1.2 n-butylated Melamine Formaldehyde Resin

      3. 5.1.3 Other Types

    2. 5.2 Application

      1. 5.2.1 Laminates

      2. 5.2.2 Wood Adhesives

      3. 5.2.3 Molding Compounds

      4. 5.2.4 Paints and Coatings

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis**/Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel NV

      2. 6.4.2 Allnex GMBH

      3. 6.4.3 Arclin, Inc.

      4. 6.4.4 BASF SE

      5. 6.4.5 Cornerstone Chemical

      6. 6.4.6 Frati Luigi S.p.A

      7. 6.4.7 Hexion

      8. 6.4.8 Metadynea Metafrax Group

      9. 6.4.9 Pacific Texchem Private Limited

      10. 6.4.10 Sprea Misr

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 The Increasing Usage of Melamine Formaldehyde in the Rigid Polyurethane Foam

    2. 7.2 Other Opportunities

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Melamine Formaldehyde Industry Segmentation

Melamine formaldehyde or melamine resin is a resin with melamine rings terminated with multiple hydroxyl groups derived from formaldehyde. It is mostly used in plywood and particleboard adhesives, dishwasher-safe tableware, automotive surface coatings, and laminated countertops and tabletops. The melamine formaldehyde market is segmented based on type, application, and geography. Based on type, the market is segmented into iso-butylated melamine formaldehyde resin, n-butylated melamine formaldehyde resin, and other types. Based on application, the market is segmented into laminates, wood adhesives, molding compounds, paints and coatings, and other applications. The report also covers the market sizes and forecasts for Melamine Formaldehyde in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).

Type
Iso-butylated Melamine Formaldehyde Resin
n-butylated Melamine Formaldehyde Resin
Other Types
Application
Laminates
Wood Adhesives
Molding Compounds
Paints and Coatings
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Melamine Formaldehyde Market Research FAQs

The Melamine Formaldehyde Market is projected to register a CAGR of 5.11% during the forecast period (2024-2029)

BASF SE, Hexion, Prefere Resins Holding GmbH., Georgia Pacific Chemicals and Arclin, Inc. are the major companies operating in the Melamine Formaldehyde Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Melamine Formaldehyde Market.

The report covers the Melamine Formaldehyde Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Melamine Formaldehyde Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Melamine Formaldehyde Industry Report

Statistics for the 2024 Melamine Formaldehyde market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Melamine Formaldehyde analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Melamine Formaldehyde Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)