Global melamine market projected to grow to USD 15.79 billion by 2033, dominated by resin segment

From GlobeNewswire: 2024-07-15 01:00:00

The global melamine market is projected to grow from USD 9.73 billion in 2023 to USD 15.79 billion by 2033, with a CAGR of 4.96%. Melamine is widely used in flame retardants, adhesives, plastics, worktops, and dishware. The melamine resin segment is expected to dominate the market, driven by demand in construction and automotive industries.

Laminates are forecasted to be the fastest-growing application segment in the melamine market, with three layers comprising surface paper, decorative paper, and bottom paper. Melamine’s resistance to heat, moisture, and wear makes it ideal for construction applications, leading the construction segment to hold the largest share.

North America is projected to have the largest market share, driven by increased disposable income and demand for furniture and automotive products. Asia Pacific is expected to grow rapidly due to expanding economies, urbanization, and rising living standards. Major players in the market include BASF SE, Mitsubishi Chemical Holdings, and more.

Recent developments include PETRONAS Chemicals Group launching a melamine plant project to enhance the Asia-Pacific region’s chemical production hub status. The market is segmented by type, application, end-user, and region for a comprehensive analysis. For more information and to purchase the full report, visit the website.



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