DALLAS, July 17, 2015 /PRNewswire/ --
The report "Melamine Formaldehyde Market by Application (Laminates, Adhesive, Molding Powder, Coating), and Geography (North America, Europe, Asia-Pacific, ROW) - Global Forecasts to 2019", published by MarketsandMarkets, melamine formaldehyde market value was estimated to be about $2.7 Billion in 2014 and is projected to reach $4.4 Billion by 2019, at a CAGR of 9.9% between 2014 and 2019.
Browse 37 market data Tables and 44 Figures spread through 73 Pages and in-depth TOC on "Melamine Formaldehyde Market".
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The market report analyzes the global melamine formaldehyde market with respect to market drivers, restraints, opportunities, and challenges in different regions.
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Increasing use of melamine formaldehyde in automotive manufacturing contributes to overall growth in the global melamine formaldehyde market. The building & construction sector, automotive market, and packaging market have seen growth or resurgence that has contributed to projected increase in the world-wide market for melamine formaldehyde. Melamine formaldehyde resins are thermally resistant due to which adhesives which are manufactured from melamine formaldehyde offer diverse advantages which contribute to the consumer product value.
The demand for melamine formaldehyde has recently slowed down due to its carcinogenic effects. However, the U.S. government has passed certain regulations that have mitigated the threat associated with melamine formaldehyde, which has thereby helped the melamine formaldehyde market to grow.
Asia-Pacific is the leading region for Melamine Formaldehyde market, both in terms of volume and value, followed by Europe. China, U.S., Japan, India, and Germany are expected to persist as successful melamine formaldehyde markets. The key players in the melamine formaldehyde market are Hexza Corporation Berhad (Malaysia), INEOS Melamines GmbH (Germany), Qatar Melamine Company (Doha), Chemplastica SpA (Italy), Eurotecnica Contractors and Engineers S.p.A. (Greece), BASF SE (Germany).
The melamine formaldehyde demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, investments & expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The global melamine formaldehyde market value was estimated to be about $2.7 Billion in 2014 and is projected to reach $4.4 Billion by 2019, at a CAGR of 9.9% between 2014 and 2019. The primary raw material of melamine formaldehyde has more thermal resistance that enables melamine formaldehyde to have characteristics such as more chemical resistance, adhesion strength, wettability, and others.
Melamine based coatings are used for enhancing the aesthetics and durability of wood. Also, its molding compounds make the surface durable and have characteristics such as hardness, heat resistance, and chemical resistance, which make it suitable for manufacturing wiring devices, and serving trays.
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