The Asia Pacific Melamine Formaldehyde Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 678.44 Kilo Tonnes, showcasing a growth of 4.7% (2019-2022).
The market is a crucial segment within the broader thermosetting resin industry, showcasing its significance through exceptional properties and multifaceted applications across various sectors. This market revolves around a compound synthesized by meticulously reacting melamine and formaldehyde under controlled conditions, resulting in a resin renowned for its outstanding durability, heat resistance, chemical stability, and electrical insulation properties.
The synthesis of melamine formaldehyde (MF) involves a precision-driven process wherein melamine, a nitrogen-based compound, reacts with formaldehyde to create a resin with unique characteristics. This chemical reaction yields a thermosetting plastic known for its exceptional traits, making it highly desirable across industries. The compound's molecular structure and inherent properties have positioned MF as an indispensable material for various applications.
The Asia Pacific region, with nations like China, India, Bangladesh, Vietnam, and others, represents a substantial consumer base for textiles. Many countries in the Asia-Pacific region are prominent manufacturing hubs for textiles and apparel. the garment industry in China is on the rise, as per the State Council of the People's Republic of China. The 13,053 largest apparel companies in China generated a total profit of 561.1 billion yuan (approximately $83.9 billion) between January and May 2022, an increase of 6.1 percent annually, as the Ministry of Industry and Information Technology reported. Therefore, the rising textile industry in the region is driving the growth of the market.
The China market dominated the Asia Pacific Melamine Formaldehyde Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $544 million by 2030. The Japan market is registering a CAGR of 4.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.7% during (2023 - 2030).
Based on Form, the market is segmented into Powder, and Liquid. Based on Application, the market is segmented into Laminates, Wood Adhesives, Surface Coatings, Molding Compounds, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market is a crucial segment within the broader thermosetting resin industry, showcasing its significance through exceptional properties and multifaceted applications across various sectors. This market revolves around a compound synthesized by meticulously reacting melamine and formaldehyde under controlled conditions, resulting in a resin renowned for its outstanding durability, heat resistance, chemical stability, and electrical insulation properties.
The synthesis of melamine formaldehyde (MF) involves a precision-driven process wherein melamine, a nitrogen-based compound, reacts with formaldehyde to create a resin with unique characteristics. This chemical reaction yields a thermosetting plastic known for its exceptional traits, making it highly desirable across industries. The compound's molecular structure and inherent properties have positioned MF as an indispensable material for various applications.
The Asia Pacific region, with nations like China, India, Bangladesh, Vietnam, and others, represents a substantial consumer base for textiles. Many countries in the Asia-Pacific region are prominent manufacturing hubs for textiles and apparel. the garment industry in China is on the rise, as per the State Council of the People's Republic of China. The 13,053 largest apparel companies in China generated a total profit of 561.1 billion yuan (approximately $83.9 billion) between January and May 2022, an increase of 6.1 percent annually, as the Ministry of Industry and Information Technology reported. Therefore, the rising textile industry in the region is driving the growth of the market.
The China market dominated the Asia Pacific Melamine Formaldehyde Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $544 million by 2030. The Japan market is registering a CAGR of 4.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.7% during (2023 - 2030).
Based on Form, the market is segmented into Powder, and Liquid. Based on Application, the market is segmented into Laminates, Wood Adhesives, Surface Coatings, Molding Compounds, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- BASF SE
- Georgia-Pacific LLC (Koch Industries, Inc)
- INEOS Group Holdings S.A.
- Mitsui Chemicals, Inc.
- Sprea Misr (Egypt Kuwait Holdings)
- Pacific Texchem Private Limited
- Prefere Resins Holding GmbH
- Hexzachem Sarawak Sdn Bhd (Hexza Corporation Berhad)
- Arclin, Inc.
- Allnex GMBH (PTT Global Chemical Public Company Limited)
Market Report Segmentation
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Powder
- Liquid
- Laminates
- Wood Adhesives
- Surface Coatings
- Molding Compounds
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Melamine Formaldehyde Market, By Form
Chapter 5. Asia Pacific Melamine Formaldehyde Market, By Application
Chapter 6. Asia Pacific Melamine Formaldehyde Market, By Country
Chapter 7. Company Profiles
Companies Mentioned
- BASF SE
- Georgia-Pacific LLC (Koch Industries, Inc)
- INEOS Group Holdings S.A.
- Mitsui Chemicals, Inc.
- Sprea Misr (Egypt Kuwait Holdings)
- Pacific Texchem Private Limited
- Prefere Resins Holding GmbH
- Hexzachem Sarawak Sdn Bhd (Hexza Corporation Berhad)
- Arclin, Inc.
- Allnex GMBH (PTT Global Chemical Public Company Limited)
Methodology
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