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Triazine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 110 Pages
  • April 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 5025679
The Triazine Market is expected to grow at a CAGR of more than 4% during the forecast period. Growing demand from the construction sector is driving the demand of the market studied. However, increasing consumer concerns about formaldehyde emission from melamine in the end-user market is likely to hinder the market.
  • Asia-pacific dominated the Triazine Market with a significant share and is estimated to continue its dominance during the forecast period.
  • By derivative, Melamine is expected to dominate the Triazine Market and is expected to exhibit a healthy growth rate owing to the increasing demand from laminate applications.

Key Market Trends

Melamine to Dominate the Market
  • Melamine dominates the market primarily due to the robust demand from laminates and wood adhesives.
  • Melamine resins are the polymers of choice used in the outer or decorative layer of laminates, as well as in the manufacture of counter and tabletops, kitchen cabinets, flooring, furniture, etc.
  • Melamine resins impart a hardness, transparency, stain resistance, freedom from discoloration, and overall durability. For this application, the resin, which is used to saturate the overlay or decorative sheet, is prepared by reacting approximately two moles of formaldehyde per mole of melamine.
  • Additionally, melamine or melamine/urea resins are among the most used adhesives for exterior and semi-exterior wood panels and for the preparation and bonding of both low- and high-pressure paper laminates and overlays.
  • Because of their excellent water resistance, melamine- containing resins are preferred for the manufacture of structural beams, truck and railcar flooring, laminated lumber, exterior doors, marine plywood, toilet seats, and school furniture.
  • The residential construction industry in Asia-Pacific is expanding at a very rapid rate, primarily from major economies, such as China, India, and ASEAN countries.
  • Such rowing demand from various applications is boosting the demand for melamine and in turn triazine market.

Asia-Pacific to Dominate the Market
  • Asia-Pacific dominated the Triazine Market and is expected to witness a significant increase, over the forecast period.
  • Increasing demand from the herbicides and dyes segments is likely to act as a driving factor for the Triazine Market studied in Asia-Pacific.
  • Increasing construction activities across the region are in turn expected to boost the Triazine Market.
  • Additionally, the rise in water treatment activities in the region owing to the increasing regulations is also adding to the growth of triazine in the region.

Competitive Landscape

The market studied is fragmented in nature. Some of the key players in the market include Ashland, Eastman Chemical Company., Haihang Industry Co., Ltd., BASF SE, and Evonik Industries AG., among others.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from Construction Sector
4.1.2 Rising Demand for Fuel Efficient and Light-weight Vehicles
4.2 Restraints
4.2.1 Increasing Consumer Concerns about Formaldehyde Emission from Melamine-based Molding Compounds
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulatory Policy Analysis
4.6 Trade Analysis
5.1 Derivative
5.1.1 Melamine
5.1.2 Cyanuric Chloride
5.1.3 Cyanuric Acid
5.2 Application
5.2.1 Chemical Processing
5.2.2 Herbicides
5.2.3 Dyes
5.2.4 Water Treatment
5.2.5 Oil and Gas
5.2.6 Other Applications
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 Rest of the World
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ashland
6.4.2 Baker Hughes
6.4.3 BASF SE
6.4.4 Eastman Chemical Company
6.4.5 Evonik Industries AG
6.4.6 Haihang Industry Co., Ltd.
6.4.7 Halliburton
6.4.8 Hexion
6.4.9 Lonza
6.4.10 Sintez OKA

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Ashland
  • Baker Hughes
  • Eastman Chemical Company
  • Evonik Industries AG
  • Haihang Industry Co., Ltd.
  • Halliburton
  • Hexion
  • Lonza
  • Sintez OKA