Melamine formaldehyde or Melamine resin is a hard, thermosetting plastic material made from melamine and formaldehyde by polymerization. In its butylated form, it is dissolved in n-butanol and xylene. It is then used to cross-link with alkyd, epoxy, acrylic, and polyester resins, used in surface coatings. Melamine formaldehyde is similar to conventional Urea formaldehyde in its processing and applications. However, it has some extra advantages over Urea resins due to some of its characteristics such as better moisture-resistance. This leads to the replacement of conventional urea formaldehyde in molded plastic plates and food containers. Growth of construction and furniture industries is increasing globally. In addition to this, the demand for paper, paints & coatings, automotive, secondary processed products and textiles sectors in China are expected to drive this market during 2013 to 2019. The major constraint of the market is the volatility of its raw material prices. The opportunities for global melamine formaldehyde market are its rising demand in automotive industry and also it’s potential as a substitute for urea formaldehyde.
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Melamine Formaldehyde Market Analysis by Application
On the basis of its applications, global melamine formaldehyde market is segmented into Tableware, Laminates, Adhesives, Paints & Coatings, Sanitary Ware, Electricals & Household Appliances and Other Applications. The largest consumer of melamine formaldehyde is the laminate industry due to its high resistance to light, fire, UV, and water. The growth of construction and furniture industry results in increasing the consumption of laminates and adhesives, which in turn plays a crucial role in driving the overall melamine formaldehyde market. In addition, melamine formaldehyde is widely used in automobile sector as paints and coatings.
Melamine Formaldehyde Market Analysis by Geography
The key geographical areas analyzed in the report are Europe, North America, Asia Pacific and Rest of the World. North America’s consumption of melamine formaldehyde is expected to reduce due to the presence of stringent regulations regarding the emission of formaldehyde. As the largest exporter of secondary processed products, China drives the Asia Pacific market.
The major players dominating this market are INEOS Group, BASF SE, Borealis Group, Mitsui Chemicals, OCI Nitrogen BV and Momentive Specialty Chemicals. BASF has developed a new cleaning version of its melamine resin foam called Basotect W. It cleans more efficiently and is brighter than the established versions. Borealis agreed to sell its melamine resins and additives business to Borgo Olona (Milan), an Italian company. The move was part of Borealis’ strategy to concentrate on basic chemicals.
High Level Analysis
The analysis provides a fair idea of the global melamine formaldehyde market, its drivers, opportunities and key concerns. The global market is analyzed using Porter’s five force model which assists the companies to adopt new strategies to increase their market share. Threat of bargaining powers of buyers and suppliers is analyzed comprehensively. The value chain analysis in the report explains the key intermediaries operating in this market.
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