New York(United States):-Global Melamine Market is valued at approximately USD $billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3% over the forecast period 2022-2028.
Melamine has been used in ornamental laminates like Formica, Melamine tableware, laminate flooring, superplasticizer, cement admixture, paints, plastic, and paper, among other things. Because of its numerous applications in a variety of products, the Melamine market is constantly expanding. Melamine is utilized as a raw material in many completed goods, therefore it functions as a product ingredient. The market is growing due to significant drivers such as strong demand from the construction industry and increase in the levels of disposable income.
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According to Statista, Before the coronavirus epidemic, the construction sector had grown to a spending value of almost USD 12 trillion, and it is predicted to increase at a three percent annual rate. This comprises real estate developments, both residential and commercial, as well as infrastructural and industrial constructions. In contrast, private construction investment in the United States increased in 2020, with some of the highest levels ever recorded in the construction of both residential and non-residential structures. In a ranking of the country’s 50 largest building contractors, two businesses earned more than USD 10 billion in sales in 2019. However, rise in the presence of various substitute compounds impedes the growth of the market over the forecast period of 2022-2028.
The geographical regions considered for the Global Melamine Market analysis include Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is dominating the region owing to rising building activity and rising demand for laminates, wood adhesives, and paints and coatings in nations like China, India and Japan. Also, APAC has registered the fastest growth in the forecast years followed by Europe, as increased government spending on construction activities is boosting the market growth in the region.
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Major market players included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Other Applications (Flame Retardants, Textile Resins, etc.)
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