Global Melamine Formaldehyde Market Segment upto 2019: Transparency Market Research
Albany, New York (PRWEB) September 30, 2014
Melamine resin or Melamine formaldehyde is an organic, heterocyclic compound made from polymerizing melamine and formaldehyde to form a hard, thermosetting plastic material. Melamine when in its butylated form is dissolved in xylene and n-butanol. Nitrogen being a major constituent in the melamine structure makes melamine formaldehyde extremely flame retardant by nature. Melamine formaldehyde is formed by cross-linking this product with other products such as epoxy, acrylic, alkyd, and polyester resins. MF has some beneficial physical characteristics over Urea resins. It is moisture-resistant, hard, and stronger than urea formaldehyde. Melamine formaldehyde is very similar to conventional Urea formaldehyde. It is included in either catalyzed gas phase or high pressure liquid phase reactions. Nevertheless, melamine formaldehyde (MF) shows excellent properties when cross-linked and has a broad range of industrial applications.
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According to a leading market research report, 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. The melamine formaldehyde market is expected to grow year-on-year due to the high demand for melamine formaldehyde from end-use segments such as furniture, construction, automobile, textile, and paper among others.
- Melamine Formaldehyde Market – By Applications
Considering melamine formaldehyde on the basis of its applications, this market is comprised of various segments including paints and coatings, laminates & wood adhesives, and molding powder among others. The use of MF is also seen in high-quality chipboards and light duty decorative panels for furniture applications. Another great impact of MF is seen in kitchenware, tableware, and other molded domestic table applications.
One of the biggest consumers of melamine formaldehyde observed in the last few years is the laminate industry. Laminates is expected to grow at a CAGR of 5.6% from 2013 to 2019. Laminates manufactured with the help of melamine formaldehyde have strong resistive properties against fire, UV, light, and water elements which make it exceedingly suitable for a variety of applications. Following to the laminates industry, adhesive was considered as the second largest consumer of melamine formaldehyde in 2012. Both the markets played a pivotal role in the growth of the global melamine formaldehyde market due to the constant growth of construction and furniture industry sectors.
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The several valuable applications of melamine formaldehyde (MF) derivatives include paints & coatings, electrical moldings, adhesives, and glass reinforces substrates. The demand for melamine formaldehyde in paints and coatings has boosted a demand for MF-based products in automobile sector as well. The use of melamine formaldehyde in the automobile sector is expected to grow at a CAGR of 6.2% between 2013 and 2019.
Tableware being another vital application in this market exhibits rapid growth with increasing consumption of melamine formaldehyde in the future. The U.S. Food and Drug Administration (FDA) approval on the use of melamine formaldehyde in the tableware and other manufacturing food packaging applications is estimated to increase the consumption of melamine formaldehyde in this specific application. Furthermore, there is a high demand for melamine formaldehyde in other applications like sanitary ware, household, and electrical appliances. These sectors are also expected to contribute to the overall growth of melamine formaldehyde market.
- Geographic Analysis
By geography, Asia Pacific was once the leading consumer of melamine formaldehyde in 2012. It accounted for over 40% shares of the market in the same year. However, Europe is now expected to become the next biggest consumer of melamine formaldehyde growing at a CAGR of 5.6% between 2013 and 2019. The Rest of the World (RoW) market is expected to demonstrate the maximum growth figures by 2019, capturing a market share of approximately 8%.
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