North America Melamine Formaldehyde Market Worth $421.7 Million by 2019

Thursday 17 November 2016, Amsterdam

The Report, now available on ASDReports, “North America Melamine Formaldehyde Market By Application (Laminates, Molding Powder, Adhesive, Coating), By Country (U.S., Canada, Rest of North America) – Analysis & Forecast to 2019” is estimated to reach $421.7 million by 2019, growing at a CAGR of 6.8% from 2014 to 2019.

Melamine Formaldehyde is a synthetic resin, which is manufactured with the help of a polymerization reaction of melamine and formaldehyde. Melamine comprises a heterocyclic six-membered ring, which has carbon and nitrogen atoms alternatively. Each of the three ring carbon atoms has a nitrogen atom, which can form a cross linker or can link to a functional group. This makes melamine formaldehyde resins thermally resistant. Furthermore, due to the versatile properties of melamine formaldehyde resins, the market for the same has been witnessing a very strong demand from industries such as coatings, adhesives, textiles, laminates, paper, leather, and plywood, among others, in recent years. Furthermore, due to interdependence of melamine demand and growth in end-use industries, any change is anticipated to affect the demand for melamine formaldehyde. In addition to this, various organizations such as the U.S. Food and Drug Administration, Center for Food Safety, and the World Health Organization have directed certain safety measures under which melamine could be used efficiently.

The U.S. is the largest market for melamine formaldehyde in North America, in terms of consumption, followed by Canada. This large share can be attributed to the increasing demand from the end-use industries such as packaging, building & construction, automobiles, and consumer goods, among others. In addition, the growth of the aforementioned end-use industries is anticipated to surge the consumption of melamine formaldehyde in the coming years.

BASF S.E., Hexion Inc., Ineos Melamines, Tembec Inc., Allnex Belgium S.A., Cytec Industries Inc., Georgia-Pacific LLC, AkzoNobel Chemicals, and Momentive Specialty Chemicals, among others, are some of the major players in the North America melamine formaldehyde market.

The report covers the North America Melamine Formaldehyde market which has been segmented on the basis of application and country. The key applications covered in the report include laminates, molding powder, adhesives, and coatings, among others.