Global Melamine Formaldehyde Market Witnessing Rising Adoption in Automotive Manufacturing Facilities: Technavio

LONDON–(BUSINESS WIRE)–#Research–According to the latest market study released by Technavio,
the global
melamine formaldehyde market is projected to reach
6,400.74 thousand metric tons by 2021, growing at a CAGR of nearly 6%
over the forecast period.

This research report titled ‘Global
Melamine Formaldehyde Market 2017-2021’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

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Based on the applications, the report categorizes the global melamine
formaldehyde market into the following segments:

• Laminates
• Adhesives
• Molding powder
• Coatings
• Other applications

The top three revenue-generating application segments in the global
melamine formaldehyde market are discussed below:

Laminates

“Melamine formaldehyde is used most commonly to produce laminated
products. The application of melamine formaldehyde on laminated products
exhibits superior properties such as strong resistance to heat and
stain, creating a high demand in the sector,” says Ajay Adikari,
a lead analyst at Technavio for specialty
chemicals research.

Melamine formaldehyde resins are also used in housing applications such
as furniture manufacturing and remodeling. In the construction industry,
it is used for both residential and non-residential applications.
High-pressure melamine formaldehyde laminates are very popular since
they are homogenous, high-density, and durable surfacing materials which
provide resistance to chemicals, abrasion, and heat.

Adhesives

The global melamine formaldehyde market for adhesives is expected to
grow at a moderate pace over the forecast period. Melamine-formaldehyde
resins function as a thermosetting adhesive and are widely used as
adhesives for semi-exterior and exterior wood panels. These resins are
also used in the manufacture and bonding of low- and high-pressure
overlays and paper laminates. Melamine formaldehyde provides enhanced
water resistance when compared to other urea-formaldehyde resins,
resulting in its increased use in the manufacture of wood flooring tiles
from bamboo, saw mill waste timbers, and bamboo laminates.

Molding powder

The strong thermosetting features of melamine-formaldehyde resins make
them ideal to be molded into various heat-resistant and translucent
powders that are tasteless, odorless, and have a pale color. These
powders are used in ashtrays, tableware, utensil handles, small
appliance housing and components, wash resistant buttons, insulators,
and various other products.

“The products made from molding powders are resistant to heat,
chemicals, water, discoloration, and are relative non-conductive. Also,
melamine formaldehyde showcases a blend of hardness and high decorative
qualities while offering flame resistance and thermal stability, which
greatly boosts its adoption,” says Ajay.

The top vendors highlighted by Technavio’s research analysts in this
report are:

• allnex
• BASF
• Chemiplastica
• HEXZA CORPORATION BERHAD
• INEOS Melamines

Browse Related Reports:

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
resellers, and end-users.

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