news 1 week ago

Global Melamine Market 2019-2023|High Demand from the Construction Industry to Boost Growth | Technavio

The Associated Press

LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global melamine market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190415005076/en/

The global melamine market will post a CAGR of close to 7% during the period 2019-2023

Melamine is extensively used as a decorative laminate in construction materials which can be used for wall paneling in office and residential buildings. With the increasing consumer focus on aesthetics and high spending on home decoration, the demand for wooden furniture including flooring, cabinets, and countertops is increasing significantly, which is driving the global consumption of melamine. The remodeling and restructuring of residential buildings for energy efficiency and cost savings will also propel the demand for melamine during the forecast period.

As per Technavio, the increasing emergence of the circular economy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global melamine market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global melamine market: The growing popularity of modular kitchens

Consumers across the world are increasingly spending a significant amount of their income on home interiors owing to the changing lifestyle. Moreover, there are generously investing in modular kitchens. The growing popularity of modular kitchen can be attributed to the efficient use of space and the increasing convenience by effectively reducing movement around the kitchen for various functions. This is fueling the demand for decorative laminates that help in improving the aesthetics and durability of a modular kitchen. Thus, the growing demand for modular kitchens will increase the sale of decorative laminates, which will support the global melamine market during the forecast period.

“Melamine resins are extensively used to produce highly durable, chemical and water-resistant coatings that exhibit mechanical properties such as scratch resistance. With the rising demand for passenger cars across the world, the consumption of automotive coatings is increasing significantly. Moreover, melamine-based coatings are preferred for their superior heat resistance, and gloss retention for automotive applications. Thus, the growth in the automotive industry will also propel the demand for melamine during the forecast period,” says a senior analyst at Technavio.

Global melamine market: Segmentation analysis

This market research report segments the global melamine market by application (laminates, adhesive resins, coating resins, and others) and geography (APAC, Europe, MEA, North America, and South America).

The laminates segment held the largest melamine market share in 2018. This is mainly due to the growing use and demand for decorative laminates in residential and commercial construction applications in this region. The US is a significant market for decorative laminates.

The APAC region led the market in 2018 with a market share of over 55%, followed by Europe, North America, MEA, and South America respectively. The dominant market share of APAC can be attributed to the high consumption of melamine in countries such as China and India with maximum demand from the automotive and construction industries.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005076/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/15/2019 10:10 AM/DISC: 04/15/2019 10:10 AM

http://www.businesswire.com/news/home/20190415005076/en