Melamine Market Overview:
The modern commercial production of melamine has grown at a rapid rate recently due to rising demand. Market reports associated with the chemicals and materials sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to expand with a positive CAGR rate over the forecast period.
The application related to thermoset plastics of melamine such as household appliances such as food containers, dinnerware, utensil handles, electric sockets, is among the significant drivers of the market and will continue rising due to large-scale consumer preference. The increased usage of melamine as a wood adhesive in bonding plywood, hardwood, etc. will also add favorably to the overall market development in the forecast period. The use of melamine in interior decoration for protection and adornment purposes with aid in the development of the market significantly over the forecast period.
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Industry/ Innovation/ Related News:
November 2017 – BASF’s open cell melamine foam Basotect® has successfully substituted conventional materials in the seat back cushions of multiple rail car programs on both the U.S. coast. The enhanced seating can be seen in the fast community transport system running across the San Francisco Bay Area and the commuter rail system serving Long Island in New York.
July 2017 – OCI Nitrogen also announced price increase of melamine owing to tough operating conditions in the market such as raw material price volatility and competitive scenario.
June 2017 – BASF announcedprice increase for all its Kaurit® and Kauramin® glues by €15 per metric ton in Europe on account of price fluctuation in the prices of raw materials. It comes as a startegic decision in order to maintain personnel, logistics, and maintenance cost. Kaurit and Kauramin glues are condensation products of urea and formaldehyde. Kauramin additionally contains melamine.
April 2015 – BASF announced the expansion of its product range of melamine resin foams for room acoustics with Basotect® B. It is widley utilized for acosutic solutions in the construction industry.
Melamine Market Key Players:
OCI Nitrogen (Netherlands), BASF SE (Germany), Haohua Junhua Group Co, Ltd. (China), Cornerstone Chemical Company (U.S.), Nissan Chemical Industries. Ltd. (Japan), Methanol Holdings (Trinidad) Limited (U.S.), Sichuan Golden Elephant Chemical (China), Mitsui Chemicals, Inc. (Japan), Qatar Melamine Company (Qatar), and Borealis AG (Austria) are a few of the important competitors functioning in the melamine market globally.
Melamine Market Competitive Analysis:
The important success factors in the market are attained without difficulty in the market which is adding to a raised pace of improvement in the forecast period. The market pulls and competitors’ propensities are markedly enhanced by the strategies that are being used by market competitors. The invention in the products and services of the markets will change the progression of the market remarkably. The escalating level of importance placed on the alternatives of the products is increasing the number of customers in the market noticeably.
Melamine Market globally is segmented on the basis of application, end-user industry, form, and region. On the basis of the product type, the melamine market globally is segmented into melamine foam, melamine resin, and others. By application, the market is segmented into wood adhesives, laminates, surface coating, thermoset plastics, and others. On the basis of the end-user industry, the market is segmented into construction, automotive industry, chemical industry, textile industry, and others. By regions, the melamine market globally is segmented into APAC, North America, Europe, Middle East, Africa, and Latin America.
Melamine Market Regional Analysis:
The Asia Pacific market has emerged as the leader of the market globally. China is one of the major and the rapidly rising market in the Asia Pacific region, both in terms of consumption and production owing to an enormous real estate market. Nations such as India, Indonesia, Japan, and Malaysia are also likely to observe noteworthy development owing to intensifying demand from the construction industry. Moreover, the growing disposable income and altering lifestyle is expected to lift the melamine market in the region. The European region is the next major melamine market across the globe. The market development is motivated by the renovation activities, residential construction, and robust automotive industry. The Middle East region is anticipated to display stable development for melamine owing to constant infrastructural projects being taken up by the government primarily in the U.A.E and Qatar to boost the tourism industry.
European market is anticipated to exhibit high growth rate due to shifting production of wood-based panels and laminates towards eastern part of Europe. Major countries contributing towards regional market growth include Turkey and Russia. North America and Latin America are slated to witness moderate growth over the forecast period.
Melamine Market Table of Content to be Continue……,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/melamine-market-1053
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