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

The Melamine Market is segmented by 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).

Market Snapshot

Melamine Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: Asia Pacific
CAGR: >3 %
Melamine Market Major Players

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Market Overview

The melamine market was valued at around 1,500 kiloton in 2020, and the market is projected to register a CAGR of over 3% in terms of revenue during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the construction and automotive manufacturing activities were at a temporary halt during the government-imposed lockdown, which had negatively impacted the demand for construction materials such as laminates, paints and coatings, and wood adhesives. Thus, this led to a decrease in the demand in the melamine market. However, the construction industry is recovering fast and is estimated to rise in the coming years, which will stimulate the demand in the melamine market.

  • Over the short term, the rising demand for laminates, coatings, and wood adhesives from the construction industry is expected to drive the market’s growth.
  • The availability of substitutes, like liquefied wood, soy, and powder coatings, is expected to hinder the growth of the market studied.
  • The increasing trend of melamine-based foams is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.

Scope of the Report

Melamine is a nitrogen-rich organic chemical compound with the formula C3H6N6 that has several industrial and construction applications, including manufacturing glues, laminates, molding compounds, paints, and flame retardants. It can be manufactured commercially from two different raw materials, including urea and dicyandiamide. The melamine market is segmented by application and geography. By application, the market is segmented into laminates, wood adhesives, molding compounds, paints and coatings, and other applications. The report also covers the market size and forecasts for the melamine market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton) and value (USD million).

Application
Laminates
Wood Adhesives
Molding Compounds
Paints and Coatings
Other Applications (Flame Retardants, Textile Resins, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
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 to Dominate the Market

  • Melamine resins are the polymers of choice used in the outer or decorative layer of laminates, as well as in the manufacture of counter and tabletops, kitchen cabinets, flooring, furniture, etc.
  • Melamine resins impart hardness, transparency, stain resistance, freedom from discoloration, and overall durability. For this application, the resin, which is used to saturate the overlay or decorative sheet, is prepared by reacting approximately two moles of formaldehyde per mole of melamine.
  • Phenolic resin costs less than melamine-formaldehyde resin. However, it is brown-yellow and non-transparent, hence, not suitable for surface layer applications. Melamine formaldehyde resin is widely used as it is clear, transparent, and wear-resistant and often serves as a surface dipping material.
  • 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 and corrosion resistance.
  • Melamine laminated sheet has superior heat-resistant properties, as it is made of the setting plastic. It does not get softened, cracked, or bubbled at a temperature over 100°C. It is well resistant to ironing and fire.
  • These sheets are commonly applied to the surface decoration projects of walls, columns, tabletops, furniture, suspended ceilings, etc.
  • In 2019, the total value of new construction put in place was about USD 1365 billion in the United States and reached about USD 1429 billion in 2020, with a growth rate of about 4.5%. Thus, this led to an increase in the demand for laminates, wood adhesives, and paints and coatings, which,in turn, stimulates the demand in the melamine market.
  • Therefore, the aforementioned factors are expected to show a significant impact on the melamine market in the coming years.
Melamine Market Key Trends

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. With growing construction activities and the increasing demand for laminates, wood adhesives, and paints and coatings in countries such as China, India, and Japan, the usage of melamine is increasing in the region.
  • In Asia-Pacific, China provides the major market for the melamine of the regional market share. Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, in order to withstand the expanding industrial and service sectors, has resulted in significant growth of the Chinese construction industry in recent years.
  • The Chinese construction industry was valued at about USD 1,096.69 billion in 2019, with a growth rate of about 12.8% compared to the previous year.
  • Furthermore, the total new construction in Japan was accounted for about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%. Thus, this led to a decrease in the consumption of construction materials like laminates, wood adhesives, and paint and coatings, which, in turn, negatively impacts the demand for the regional melamine market.
  • As the construction industry is dominated by state-owned enterprises, increased government spending is boosting the industry in the country. This scenario may concrete the demand for melamine materials in the future.
  • Therefore, the aforementioned factors are expected to show a significant impact on the market in the coming years.
Melamine Market Growth Rate

Competitive Landscape

The melamine market is partially consolidated and the top five players account for a market share of ~40% of the total production capacity. These companies include OCI NV, Borealis AG, Prefere Resins Holding GmbH, Grupa Azoty, and Sichuan Energy Industry Investment Group Co. Ltd (SCEI), among others.

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Recent Developments

  • In July 2019, Prefere Resins Holding GmbH completed the acquisition of INEOS melamines and paraform businesses for further strengthening its product portfolio and enhancing the company's business.
  • In April 2019, Gujarat State Fertilizers & Chemicals Limited (GSFC) and Casale SA, a technology provider, announced the completion of a new melamine plant with a capacity of 40 kiloton per year in Vadodara of India, which led to further expansion in the company's business.

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 Strong Demand from the Construction Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Increasing Consumer Concerns About Formaldehyde Emission from Melamine-based Molding Compounds

      2. 4.2.2 Availability of Substitutes, like Liquefied Wood, Soy, and Powder Coatings

      3. 4.2.3 Unfavorable Conditions Arising Due to the Impact of COVID-19

    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 Feedstock Analysis and Trends

    6. 4.6 Production Process

    7. 4.7 Import-Export Trends

    8. 4.8 Supply Scenario

    9. 4.9 Price Trend

    10. 4.10 Patent Analysis

    11. 4.11 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION (Market Size by Volume and Value)

    1. 5.1 Application

      1. 5.1.1 Laminates

      2. 5.1.2 Wood Adhesives

      3. 5.1.3 Molding Compounds

      4. 5.1.4 Paints and Coatings

      5. 5.1.5 Other Applications (Flame Retardants, Textile Resins, etc.)

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 ASEAN Countries

        6. 5.2.1.6 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Russia

        6. 5.2.3.6 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 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

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Borealis AG

      3. 6.4.3 Cornerstone

      4. 6.4.4 East China Engineering Science & Technology Co. Ltd (ECEC)

      5. 6.4.5 EuroChem Group

      6. 6.4.6 Grupa Azoty

      7. 6.4.7 Gujarat State Fertilizers & Chemicals Limited (GSFC)

      8. 6.4.8 Hexion

      9. 6.4.9 MITSUI CHEMICALS EUROPE GmbH

      10. 6.4.10 Nissan Chemical Corporation

      11. 6.4.11 OCI NV

      12. 6.4.12 Prefere Resins Holding GmbH

      13. 6.4.13 Proman

      14. 6.4.14 Qatar Petroleum

      15. 6.4.15 Sichuan Energy Industry Investment Group Co. Ltd (SCEI)

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

    1. 7.1 Increasing Trend of Melamine-based Foams

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Frequently Asked Questions

The Melamine Market market is studied from 2016 - 2026.

The Melamine Market is growing at a CAGR of >3% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

OCI NV, Borealis AG, Prefere Resins Holding GmbH, Grupa Azoty, Sichuan Energy Industry Investment Group Co.,Ltd (SCEI) are the major companies operating in Melamine Market.

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