ALBANY, NY - The laminate industry is the largest consumer of melamine formaldehyde. Since laminates manufactured using melamine formaldehyde offer high resistance to light, UV, fire and water, it makes it suitable for wide range of applications.
Melamine resin or melamine formaldehyde (often referred to as "melamine") is a hard, thermosetting plastic material made from a mix of the two materials.
Laminate consumption of melamine formaldehyde is expected to grow 5.6% from 2013 to 2019. Adhesive is the second largest consumer of melamine formaldehyde in 2012. With the growth of construction and furniture industry there was an increase in the consumption of laminates and adhesives which in turn played a pivotal role in driving the overall melamine formaldehyde market.
The company's new report, "The Melamine Formaldehyde Market for Tableware, Laminates, Adhesives, Paints & Coatings, Sanitary Ware, Electricals & Household Appliances and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", tallies up the sales volume in melamine formaldehyde in its end-use industries, which include as construction, furniture, textile, automobile and paper.
Rising demand from China, where manufacturing secondary processed products has augmented the growth of the melamine formaldehyde market, will encourage growth. But volatility of melamine prices is expected to hinder sales.
The global melamine formaldehyde market is highly fragmented as top five companies account for approximately 23% of the total market in 2012. Entry of new players especially in Asia Pacific is expected to boost the supply of melamine formaldehyde such that it would help in reducing the supply and demand gap to a great extent.
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