Project report for Melamine

The melamine market have good market potential due to its durable, hard, glossy, and strong resistance to heat, moisture, stain, and wear properties, from end-use industries such as building and construction, automotive, food and beverage, and textile applications is estimated to drive the market growth in India. Increasing use of melamine resin for the production of wood adhesive and application in bonding medium density fiberboard and hardwood with laminates are substantially contributing to the melamine market growth. Increasing residential and renovation activities are projected to see strong demand for laminate-based furniture and storage cabinets, and wood adhesives, which is further anticipated to drive the market growth.

Melamine is used to form melamine formaldehyde resin, which find many applications in our commonly used household products such as furniture, kitchen countertops & storage, bathroom cupboard, dinnerware, food storage containers, cars, and banknotes. Unbreakable plastic crockery ware is very popular in households and hotels. They are made of melamine formaldehyde molding powder. The products include Cup and Saucer Sets, Plates, Bowls and Dinner Plates. The main advantages of Melamine Crockery over the conventional Crockery are un-breakability, odor-free, heat and shock proof and scratch resistance, lightweight and non-toxic.: Melamine Crockery is available in eye-catching colors, attractive designs and finishes. Melamine is an organic compound with the formula C3H6N6. This white solid is a trimer of cyanamide, with a triazine skeleton. Like cyanamide, it contains 67% nitrogen by mass, and its derivatives have fire retardant properties due to its release of nitrogen gas when burned or charred.

Melamine Market size was valued at INR 576.507 Crores in 2020 and is projected to reach INR 581.840 Crores by 2028, growing at a CAGR of 5.1% from 2021 to 2028. The upcoming trend in the market such as melamine-based foam is likely to provide huge opportunities in the future. The Global Melamine Market report provides a holistic evaluation of the market. Furthermore, major drivers that are responsible for boosting Melamine Market are, melamine also exhibits high flame retardancy and high sound absorption properties. Thus, such types of foams used in case of acoustic panels, metal ceiling panels, suspended baffles and buildings. On the other side the toxicity level of melamine is hampering the market growth. However, the upcoming trend in the market such as melamine-based foam is likely to provide huge opportunities in the future.

The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the construction and automotive manufacturing activities were at a temporary halt during the government-imposed lockdown, which had negatively impacted the demand for construction materials such as laminates, paints and coatings, and wood adhesives. Thus, this led to a decrease in the demand in the melamine market. However, the construction industry is recovering fast and is estimated to rise in the coming years, which will stimulate the demand in the melamine market.