The global melamine market is expected to post a CAGR of close to 7%
during the period 2019-2023, according to the latest market research
report by Technavio.
This press release features multimedia. View the full release here:
The global melamine market will post a CAGR of close to 7% during the period 2019-2023
Melamine is extensively used as a decorative laminate in construction
materials which can be used for wall paneling in office and residential
buildings. With the increasing consumer focus on aesthetics and high
spending on home decoration, the demand for wooden furniture including
flooring, cabinets, and countertops is increasing significantly, which
is driving the global consumption of melamine. The remodeling and
restructuring of residential buildings for energy efficiency and cost
savings will also propel the demand for melamine during the forecast
As per Technavio, the increasing emergence of the circular economy will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
melamine market 2019-2023 research report also analyzes
other important trends and market drivers that will affect market growth
Global melamine market: The
growing popularity of modular kitchens
Consumers across the world are increasingly spending a significant
amount of their income on home interiors owing to the changing
lifestyle. Moreover, there are generously investing in modular kitchens.
The growing popularity of modular kitchen can be attributed to the
efficient use of space and the increasing convenience by effectively
reducing movement around the kitchen for various functions. This is
fueling the demand for decorative laminates that help in improving the
aesthetics and durability of a modular kitchen. Thus, the growing demand
for modular kitchens will increase the sale of decorative laminates,
which will support the global melamine market during the forecast period.
“Melamine resins are extensively used to produce highly durable,
chemical and water-resistant coatings that exhibit mechanical properties
such as scratch resistance. With the rising demand for passenger cars
across the world, the consumption of automotive coatings is increasing
significantly. Moreover, melamine-based coatings are preferred for their
superior heat resistance, and gloss retention for automotive
applications. Thus, the growth in the automotive industry will also
propel the demand for melamine during the forecast period,” says a
senior analyst at Technavio.
Global melamine market: Segmentation analysis
This market research report segments the global melamine market by
application (laminates, adhesive resins, coating resins, and others) and
geography (APAC, Europe, MEA, North America, and South America).
The laminates segment held the largest melamine market share in 2018.
This is mainly due to the growing use and demand for decorative
laminates in residential and commercial construction applications in
this region. The US is a significant market for decorative laminates.
The APAC region led the market in 2018 with a market share of over 55%,
followed by Europe, North America, MEA, and South America respectively.
The dominant market share of APAC can be attributed to the high
consumption of melamine in countries such as China and India with
maximum demand from the automotive and construction industries.
Looking for more information on this market? Request
a free sample report
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
Some of the key topics covered in the report include:
Market segmentation analysis
Market size and forecast
Five Forces Analysis
Key leading countries
Market positioning of vendors
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team
View source version on businesswire.com: https://www.businesswire.com/news/home/20190415005076/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com