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Melamine Formaldehyde Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Melamine Formaldehyde market is segmented by Type (Methylated Melamine Formaldehyde and Non-methylated Melamine Formaldehyde), Application (Laminates, Wood Adhesives, Moulding 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 (Kilo tons) for all the above segments.

Market Snapshot

Melamine Formaldehyde- Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.81 %

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Market Overview

The melamine formaldehyde market is expected to reach 1,700.06 kilotons, recording a CAGR of 4.81% during the forecast period (2021-2026). The major factors driving the market studied are the growing demand for laminated furniture and high growth in the construction industry. On the flip side, a slowdown in automotive production, along with the impact of COVID-19, is likely to hamper the growth of the market studied.

The use of melamine formaldehyde for the treatment of an organic fraction of municipal solid waste (OFMSW) is likely to act as an opportunity for the market studied in the coming years.

By application, the decorative laminated furniture segment will dominate the market, which is expected to grow further during the forecast period.

The Asia-Pacific region is estimated to dominate the global market, owing to the increasing demand from the furniture industry in China and India.

Scope of the Report

The melamine formaldehyde market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into Methylated Melamine Formaldehyde and Non-methylated Melamine Formaldehyde. On the basis of application, the market is segmented into Laminates, Wood Adhesives, Moulding Compounds, Paints and Coatings, and Other Applications. The report also covers the market sizes and forecasts for the Melamine Formaldehyde market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).

Type
Methylated Melamine Formaldehyde Resin
Non-methylated Melamine Formaldehyde Resin
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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Key Market Trends

Laminates Segment to Dominate the Market

Melamine formaldehyde resins are majorly applied in manufacturing high-pressure laminates, which are used in tabletops, kitchen cabinets, flooring, furniture, etc. The melamine resins impart hardness, transparency, stain resistance, freedom from discoloration, and overall durability. Melamine formaldehyde resin is clear, transparent, and wear-resistant, which makes it more suitable for decorative applications than phenolic resins, which are brown-yellow and non-transparent.

Melamine laminated sheet is in a multilayer structure, including surface paper, decoration paper, and bottom paper. The surface paper is to protect patterns and designs on the decorative paper, to make the surface brighter, solider, and harder, and to provide it with better wear-resistance and corrosion resistance. Melamine formaldehyde laminated sheet is made of thermosetting plastic, so it has superior heat-resistance and does not get softened, cracked, or bubbled at a temperature over 100°C. It is well resistant to ironing and fire. High durability and ease of installation are some of the major factors driving the demand for laminated flooring and thereby the demand for melamine formaldehyde resins.

Globally, there has been a significant undersupply to meet the demand for housing in the Asia-Pacific region. For example, in China, residential investment grew by about 13.9% during the first eleven months of 2019, reaching CNY 9,707.1 billion. The area under residential construction during the period was recorded to have reached 6,276.73 million square meters, indicating a 10.1% growth. However, in countries like the United States, the value of new private residential buildings put in place has decreased from USD 5,39,607 million in 2018 to USD 5,14,629 million in 2019. Additionally, the COVID-19 has negatively affected the growth of the global residential construction sector in 2020. These trends in the global residential construction industry are likely to affect the demand for laminate flooring, kitchen cabinets, furniture and thereby are likely to affect the demand for melamine formaldehyde.

Melamine Formaldehyde Market - Segmentation Trends

China to Dominate the Global Market

The growth rate of the GDP in China was 6.7% in 2018 and 6.1% in 2019. The trade war with the United States has a significant impact on trade. Moreover, the COVID-19 pandemic is estimated to have a huge impact on the economy, and the economic growth of China has slowed down to 1.90% in 2020. The Chinese furniture industry is one of the biggest furniture industries in the world. It is also one of the leading producers, consumers, and exporters of furniture. The production side of the Chinese furniture industry accounts for nearly 40% of the world’s furniture production.

China’s furniture retail sales also maintained a steady growth trend from 2018 to 2020, with the retail sales of furniture in China amounting to nearly CNY 19.5 billion in 2019. Residential furniture sales dominated retail sales due to the availability and innovation of a large number of new residential furniture products in varied designs and material combinations. Among residential furniture, the demand for living and dining room furniture has shown steady growth 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 a dining room & kitchen furniture in 2019. All these factors have been driving the demand for lamination, wood adhesives, and wood coatings in China, providing impetus to wood adhesives and wood coatings products in the country.

China’s wood adhesive industry is fragmented, dominated by a large number of local players. The industry’s sales are expected to grow at a CAGR of over 5% during the next 5 years. China is the largest market for melamine formaldehyde resins, owing to its large-scale production capacities of wood adhesives and wood coatings. Additionally, the growing demand for Particleboard and Medium-density fiberboard in the country is expected to drive the market for wood adhesives production in the country. All these factors are expected to drive the demand for Melamine Formaldehyde in the country.

Melamine Formaldehyde Market - Regional Trends

Competitive Landscape

The global melamine formaldehyde market is highly fragmented, where the major players account for a negligible share of the global market demand. The market includes both global and local players. The leading players are well-established, and they are operating to acquire a larger share in the market through innovative products that meet all the necessities and achieve inorganic growth. Some of the major companies in the market are BASF SE, Hexion, Arclin, Inc., Prefere Resins Holding GmbH, and Georgia Pacific Chemicals, among others.

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 of the Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Decline in Automotive Industry

      2. 4.2.2 Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

    6. 4.6 Technological Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Methylated Melamine Formaldehyde Resin

      2. 5.1.2 Non-methylated Melamine Formaldehyde Resin

    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 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 NETHERLANDS BV

      3. 6.4.3 Arclin, Inc.

      4. 6.4.4 BASF SE

      5. 6.4.5 Cornerstone

      6. 6.4.6 Frati Luigi SpA

      7. 6.4.7 Georgia Pacific Chemicals

      8. 6.4.8 Hexion

      9. 6.4.9 Melamin kemina tovarna d.d. Koevje

      10. 6.4.10 Metadynea Metafrax Group

      11. 6.4.11 Monomer-Polymer & Dajac Labs (Entegris)

      12. 6.4.12 Pacific Texchem Private Limited

      13. 6.4.13 Prefere Resins Holding GmbH

      14. 6.4.14 Sprea Misr

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

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Frequently Asked Questions

The Melamine Formaldehyde Market market is studied from 2016 - 2026.

The Melamine Formaldehyde Market is growing at a CAGR of 4.81% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

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

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