Latest News- Melamine Market: Laminates is expected to lead the Application segment during 2024-2028

The Melamine Market is being driven by Increasing demand from construction industry

The Melamine Market is expected to grow at a CAGR of 3.83% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 378.5 million. In today's fast-paced world, consumers are prioritizing home improvements, particularly in the kitchen sector. The rising demand for modular kitchens is a testament to this trend. These modern kitchen solutions offer enhanced functionality and design, featuring cabinets constructed from various materials and equipped with space-saving accessories. Decorative laminates, a popular choice for cabinetry in modular kitchens, provide both aesthetic appeal and durability. With an array of patterns, designs, and textures available, these laminates contribute significantly to the kitchen's overall appearance and efficiency. The convenience and improved aesthetics offered by modular kitchens, coupled with the durability and versatility of decorative laminates, are key factors fueling their growing popularity in the market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Laminates
  • Adhesives resins
  • Coating resins
  • Others
• Type
  • Melamine resin
  • Melamine foam
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand from construction industry
• Growth in automotive industry
• Abundant availability of natural gas

However, the market also witnesses some limitations, which are as follows:

• Availability of substitutes
• Anti-dumping duties on melamine
• Increase in wood logging

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Market Scope in Melamine Market Research Report

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Research Analysis Overview

The Melamine Market is projected to expand due to rising demand in automotive applications for soundproofing transportation. Melamine resin's use in melamine molding applications and carbon nanotubes is also increasing. Laminates and wood adhesives markets are significant consumers of melamine resin. The Automotive Melamine Demand is a key growth driver, with its use in various components enhancing vehicle performance and comfort. The Melamine Market Forecast indicates continued growth due to these factors.

Market Research Overview

The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals used in the production of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market's size is determined by the consolidated revenue generated by these manufacturers. Factors fueling the market expansion include the increasing preference for specialty adhesives and sealants, driven by the growing demand for these products in various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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