According to a new report published by Transparency
Market Research "Melamine Formaldehyde Market for Tableware, Laminates,
Adhesives, Paints & Coatings, Sanitary Ware, Electricals & Household
Appliances and Other Applications - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019", the global demand for the
melamine formaldehyde was valued at USD 13.45 billion in 2012 and is expected
to reach USD 20.62 billion in 2019, growing at a CAGR of 6.3% between 2013 and
2019.
Growing demand for melamine formaldehyde from
end-use industries such as construction, furniture, textile, automobile and
paper among others is expected to boost the overall market. In addition, the
rising demand from China, especially for manufacturing secondary processed
products has augmented the growth of melamine formaldehyde market. However,
volatility of melamine prices which is an essential raw material required in
manufacturing melamine formaldehyde is one of the crucial factors that is
expected to hinder the growth of the market. The development of various
technologies that help in cross-linking melamine formaldehyde with other
chemicals is expected to boost the demand for melamine formaldehyde in paints
and coatings which would be used especially in the automobile sector in the
coming years. Thus, the growing automobile sector is expected to have an
imperative effect on the growth of melamine formaldehyde market.
Browse Global Melamine Formaldehyde Market Report
with Full TOC at http://www.transparencymarketresearch.com/melamine-formaldehyde-market.html
The laminate industry was the largest consumer of
melamine formaldehyde in the last few years. Laminates manufactured using
melamine formaldehyde offer high resistance to light, UV, fire and water making
it highly suitable for wide range of applications. Laminates is expected to grow at a CAGR of
5.6% from 2013 to 2019. Adhesive was the second largest consumer of melamine
formaldehyde in 2012. With the growth of construction and furniture industry
there was an increase in the consumption of laminates and adhesives which in
turn played a pivotal role in driving the overall melamine formaldehyde market.
Owing to the increase in the use of melamine formaldehyde in paints and
coatings especially used in the automobile sector is expected to boost the
melamine formaldehyde market which is expected to grow at a CAGR of 6.2%
between 2013 and 2019. The tableware application is expected to exhibit the
quickest growth rates with increasing consumption of melamine formaldehyde in
the future. The U.S. Food and Drug Administration (FDA) approval to use
melamine formaldehyde in manufacturing food packaging and other tableware is
anticipated to increase the consumption of melamine formaldehyde in this
application. The consumption of melamine formaldehyde in sanitaryware, electrical
and household appliances is also expected to increase in future thus boosting
the growth of the overall melamine formaldehyde market.
Asia Pacific emerged as a leading consumer of
melamine formaldehyde in 2012 and it accounted for over 40% of the market in
2012. China being the world's largest exporter of secondary processed products
plays a key role in driving the market in this region. Europe is expected to
grow at a CAGR of 5.6% between 2013 and 2019, thus making it a major consumer
of melamine formaldehyde by 2019. The Rest of the World (RoW) market is
expected to show the maximum growth figures by 2019 and is expected to capture
a market share of approximately 8%. North America's consumption of melamine
formaldehyde is expected to reduce owing to the presence of stringent
regulations regarding the emission of formaldehyde.
The global melamine formaldehyde market is highly
fragmented as top five companies account for approximately 23% of the total
market in 2012. Entry of new players especially in Asia Pacific is expected to
boost the supply of melamine formaldehyde such that it would help in reducing
the supply and demand gap to a great extent.
This
report segments the global melamine formaldehyde market as follows:
Melamine Formaldehyde Market: Application Analysis
·
Tableware
·
Laminates
·
Paints &
Coatings
·
Adhesives
·
Sanitary ware
·
Electrical &
household appliances
·
Others
Browse Global Melamine Formaldehyde Market Report at https://www.linkedin.com/today/post/article/20140604111920-221228539-melamine-formaldehyde-market-2013-2019
Melamine Formaldehyde Market: Regional Analysis
·
North America
·
Europe
·
Asia Pacific
·
Rest of the
World
Browse Chemical & Materials Market Research
Reports @ http://www.transparencymarketresearch.com/chemical-market-reports-2.html
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