Global Melamine Formaldehyde Market Report 2021: Market to Reach $805.7 Million by 2027 - U.S. Market is Estimated at $147.9 Million - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 15, 2021--
The “Melamine Formaldehyde - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Melamine Formaldehyde Market to Reach $805.7 Million by 2027
Amid the COVID-19 crisis, the global market for Melamine Formaldehyde, estimated at US$546.1 Million in the year 2020, is projected to reach a revised size of US$805.7 Million by 2027, growing at a CAGR of 5.7% over the analysis period 2020-2027.
Laminates, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$350.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wood Adhesives segment is readjusted to a revised 6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $147.9 Million, While China is Forecast to Grow at 8.7% CAGR
The Melamine Formaldehyde market in the U.S. is estimated at US$147.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$169.4 Million by the year 2027 trailing a CAGR of 8.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
Molding Powder Segment to Record 4.9% CAGR
In the global Molding Powder segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$61.1 Million in the year 2020 will reach a projected size of US$82.7 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$108.4 Million by the year 2027, while Latin America will expand at a 5.9% CAGR through the analysis period.
Select Competitors (Total 46 Featured):
- Allnex Belgium SA/NV
- BASF SE
- ChemiplastiCA SpA
- Georgia-Pacific Chemicals LLC
- Hexion Inc.
- Hexza Corporation Berhad
- INEOS Group AG
- Mitsui Chemicals, Inc.
- Nissan Chemical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/8gzkbh
View source version on businesswire.com:https://www.businesswire.com/news/home/20210415005656/en/
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SOURCE: Research and Markets
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PUB: 04/15/2021 09:37 AM/DISC: 04/15/2021 09:36 AM