Melamine Formaldehyde Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)

2021-11-24 11:56:54 By : Ms. Niki Feng

The compound annual growth rate of the melamine formaldehyde market is expected to exceed 5% during the forecast period. One of the main factors driving the development of the market is the growing demand for plywood furniture.

New York, March 1, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Melamine Formaldehyde Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)"-https://www .reportlinker .com/p06028510/?utm_source=GNW However, the regulation of formaldehyde toxicity in developed countries is expected to hinder the growth of the studied market. The use of melamine formaldehyde to treat the organic part of municipal solid waste (OFMSW) is likely to be an opportunity to study the market in the next few years. Through application, the decorative laminate furniture segment will dominate the market and is expected to grow further during the forecast period. Due to increasing demand from the furniture industry in China and India, the Asia-Pacific region is expected to dominate the global market. The main market trend is growing demand for Formica laminated furniture-decorative laminate is an attractive and safe way to maintain the beauty of the interior and protect the furniture from wear, scratches and fire risks. These products also help extend the life of surfaces and provide them with an eye-catching finish. -The main use of melamine resin is the main component of high-pressure laminate, such as formica and hardwood and laminate flooring. In addition, it is also used for plastic laminates and covering materials. -A complex interconnected polymer, melamine formaldehyde, is used in plywood and particleboard adhesives, dishwasher-safe tableware and automotive surface coatings. -The production of environmentally friendly decorative laminates is expected to provide manufacturers with profitable growth opportunities to expand their existing customer base and increase market value share. -Therefore, due to the above factors, the application of melamine formaldehyde as glued furniture may dominate during the forecast period. The Asia-Pacific region will dominate the market-The Asia-Pacific region is expected to dominate the melamine formaldehyde market during the forecast period. Increasing infrastructure investment and economic growth in various developing countries such as India and China are expected to drive the demand for melamine formaldehyde in the region. -The largest producer of melamine formaldehyde is located in the Asia-Pacific region. Some of the leading companies producing melamine formaldehyde include BASF SE, Hexion, and AkzoNobel NV. -Due to population increase and economic growth, developing countries in the Asia-Pacific region, such as India and China, have a growing demand for decorative laminates. -The growing demand for cement is due to the growth of the construction market in the Asia-Pacific region. By 2020, construction spending in the Asia-Pacific region is expected to account for nearly half of total global construction spending, with China, Japan, Indonesia, South Korea, and Malaysia expected to have the highest market growth and profit potential. -Due to the development of the apparel and home furnishing industries, cotton and synthetic fibers, and urbanization, the growth of the textile chemicals market in the Asia-Pacific region has led to an increase in domestic demand in the Asia-Pacific region. -Due to the above factors, the melamine formaldehyde market in the Asia-Pacific region is expected to grow during the study period. Competitive landscape The global melamine formaldehyde market is partially integrated in nature, with a few major players dominating the market. Some of the major companies are BASF SE, Hexion, AkzoNobel NV, Prefere Resins Holding GmbH and Georgia Pacific Chemicals. Reasons for purchasing this report:-Market Estimate (ME) table in Excel format-3 months of analyst support Read the full report: https://www.reportlinker.com/p06028510/?utm_source=GNW About Reportlinker ReportLinker is an award -Successful market research solutions. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________

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