The global melamine market value was US$ 1.77 billion in 2021. The global melamine market value is forecast to reach US$ 2.69 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2022 to 2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=BWCC518
Melamine is a white crystalline substance that belongs to a family of heterocyclic organic compounds. It contains 66% nitrogen by mass. Melamine polymerizes with formaldehyde and other agents to form formaldehyde and melamine resins. Heat, moisture, and stain-resistant, these resins are hard, glossy, and durable. The use of melamine foam in insulation, soundproofing, and cleaning products like a magic eraser is widespread.
Melamine is widely used in the building & construction industries to make laminates, including kitchen cabinets, countertops, partitions, flooring, and furniture. As a result of the COVID-19 outbreak, residential construction ceased amid lockdown. Paint and coating manufacturing facilities in various countries had to shut down amid country-wide lockdowns. Consequently, the demand for melamine, a material used for surface coatings, has declined. As a result, the COVID-19 pandemic had negatively impacted the global market.
However, the construction industry is recovering rapidly and is likely to grow in the coming years, stimulating demand in the melamine market.
Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=BWCC518
Asia-Pacific accounted for the largest share of the melamine market in 2020. Due to the rise in construction activities and increased demand for laminates, wood adhesives, and paints & coatings in countries such as China, India, and Japan, usage of melamine has increased in the region. China dominates the melamine market in Asia-Pacific. In recent years, China’s construction industry has experienced significant growth despite fluctuating growth in the real estate sector due to the extensive development of rail and road infrastructure to cope with the expansion of industrial and service sectors. Due to the dominance of state-owned enterprises in the construction industry, increased government spending boosts the industry. Increased government spending may lead to an increase in demand for melamine materials in the future. Thus, it will result in a significant impact on the regional market during the forecast period.
The leading prominent companies profiled in the global melamine market are:
The global melamine market segmentation focuses on Type, Application, and Region.
Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=BWCC518
What are the key findings of the report?
•This report provides comprehensive information on factors expected to influence the market growth and market share in the future. •The report offers the current state of the market and future prospects for various geographical regions. •This report provides both qualitative and quantitative information about the competitive landscape of the market.
Access full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=BWCC518
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us: Report Ocean: Email: sales@reportocean.com Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE) Website: https://www.reportocean.com/
Taiwan News © 2019 All Rights Reserved.