ALBANY, N.Y., Aug. 6, 2020 /PRNewswire/ -- The use of MF resins in the manufacture of laminated wooden panels may serve as a prominent growth indicator for the melamine market. The properties of the MF resins such as large-scale resistance to abrasion, stain, heat, and chemical reactions bring considerable opportunities for the melamine market. In addition, accelerating urbanization across the globe is leading to advancements in the construction industry, eventually serving as a good growth prospect for the melamine market.
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Based on all these factors, the analysts at Transparency Market Research (TMR) predict the global melamine market to record a CAGR of more than 4% across the forecast period of 2019-2027. The global melamine market may attain a valuation of more than US$ 2.8 bn by the end of 2027.
The increase in the applications of melamine across the construction and industrial sector may bring expansive growth opportunities for the melamine market. The growing popularity of melamine-based foams may also boost the growth prospects of the global melamine market.
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Melamine Market: Key Revelations
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Melamine Market: Growth Accelerators
Melamine is used as a prime component across diverse applications. This aspect may prove to be a robust growth generator for the melamine market. The growing disposable income and the fast-changing consumer lifestyle may form the foundation for the growth of the melamine market.
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Melamine Market: Competitive Dimensions
The global melamine market is fragmented with numerous local and international players in fray for establishing their influence. To maintain their supremacy, key players in the melamine market are involved in activities such as mergers and acquisitions. In addition, players in the melamine market also forge partnerships, joint ventures, and collaborate for cementing their presence.
Well-established players have a firm consumer base and contribute largely to the growth of the melamine market. The top players in the melamine market accounted for more than 35 percent share in 2018. Some key participants involved in the melamine market are Qatar Melamine Company (QMC), GrupaAzotyZakladyAzotowePulawy S.A. (ZAP), Borealis AG, Methanol Holdings (Trinidad) Limited (MHTL), XinjiJiuyuan Chemical Co. Ltd., and OCI N.V.
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Global Melamine Market: Segmentation
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