According to the report published by Allied Market Research, the global melamine market generated $1.7 billion in 2020 and is projected to reach $2.5 billion by 2030, at a CAGR of 4.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Increasing demand for laminates, increasing consumption of melamine in wood adhesives industry and increasing construction activities around the world are driving the growth of the global melamine market. However, harmful effects of melamine due to its toxicity restrain the market to some extent. On the other hand, the growing demand for decorative laminates offers new opportunities in the coming years.

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COVID-19 scenario:

• The outbreak of the COVID-19 pandemic led to a global lockdown and temporary closures of paints and coatings manufacturing plants in various countries. In this way, the demand for melamine, which is widely used in the production of surface coatings, fell significantly, thereby restraining the growth of the global melamine market.
• Construction of various housing projects has also been halted during the lockdown. As a result, demand for melamine from laminate manufacturers around the world has also decreased.

The report provides detailed segmentation of the global melamine market by type, application, and region.

Depending on the type, the melamine resin segment held the top market share with more than two-thirds of the total market share in 2020 and is expected to continue its leading position during the forecast period. Additionally, the same segment is estimated to witness the highest CAGR of 4.6% from 2021 to 2030.

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Depending on the application, the laminates are…