Market Size of Melamine Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 1.87 Million tons |
| Market Volume (2029) | 2.30 Million tons |
| CAGR (2024 - 2029) | 4.15 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Melamine-based Adhesives Market Analysis
The Melamine Market size is estimated at 1.87 Million tons in 2024, and is expected to reach 2.30 Million tons by 2029, growing at a CAGR of 4.15% during the forecast period (2024-2029).
The melamine market was negatively impacted during the COVID-19 pandemic in 2020. The market improved in 2021. With construction and automotive manufacturing activities recovering from the lockdown, the demand for construction materials such as laminates, paints, and coatings, and wood adhesives increased. The construction industry is recovering rapidly and is estimated to grow further in the coming years, which may boost the demand for melamine.
- 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 and increasing consumer concerns about formaldehyde emissions from melamine-based molding compounds are expected to hinder the market's growth.
- However, the increasing trend of melamine-based foams is likely to act as an opportunity in the future.
- Asia-Pacific dominates the market across the world, with the largest consumption from China and India.
