Global Melamine Panel Market is Likely to Grow at a CAGR Value of 4.7% by 2028

The global melamine panel market size was worth around USD 8.9 billion in 2021 and is estimated to grow to about USD 11.7 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.7% over the forecast period. The report analyzes the melamine panel market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the melamine panel market.

Melamine panels are constructed from paper that has been heat-pressed after being impregnated with resin to provide a robust, hard surface. They are frequently employed in the production of countertops, kitchen cabinets, and other pieces of furniture for homes. In the building sector, melamine panels are also utilized for wall paneling, office dividers, and retail fixtures. Melamine panels provide many advantages, such as heat, stain, and scratch resistance. They are also simple to maintain and clean.

The demand for melamine panels is expected to increase due to their robust, hard, glossy, and great resistance to heat, moisture, stains, and wear from end-use sectors like building & construction, automotive, food & beverage applications, and textile applications. The expansion of the global melamine panels market is significantly attributed to the expanding use of melamine resin in the manufacture of wood adhesive and its use in the bonding of medium-density fiberboard and hardwood with laminates. In addition, it is anticipated that the growing use of melamine resins and foams in carbon nanotubes, thermoset polymers, and high-strength concrete would propel the growth of the melamine panels sector in the future. Growing public apprehensions regarding the formaldehyde emission of thermoset plastics based on melamine, such as dinnerware and food containers, are anticipated to impede the growth of the global melamine panels market.

The global melamine panel market is segregated based on type, application, and region. Based on type, the market is divided into particle panels and density panels. In 2021, the density panel dominated the market. Based on application, the market is divided into walls, decorative materials, roof, floors, and others. The melamine panel market's largest segment, laminates, is expected to grow at a CAGR of 5.1 percent through 2028.

The largest regional melamine panels market is in the Asia Pacific as of 2021. The expansion of the melamine panels market is being fueled by the region's rapid urbanization and industrialization. Additionally, as people's disposable wealth has increased, so has their need for high-end goods, which is driving up the market demand for melamine panels. The majority of melamine products are produced and consumed in China. Additionally, the government's focus on infrastructure development is fostering an atmosphere that is conducive to the market's expansion in this area. With the high level of discretionary wealth in this area, there is a considerable demand for luxury furnishings and building materials with melamine finishes. The main drivers of demand for melamine panels in this region are the rapid expansion of the infrastructure and the desire for high-end consumer items.

Key players functioning in the global melamine panel market include Timber Products, Prime Panels, NZ Panels Group, Lawcris Panel Products, Roseburg Forest Products, Flex Corporation, Arauco, Laminex NZ, Wilsonart Australia, and Funder America Inc.

Recent developments:

• In August 2021, Nissan Chemical Corporation made the decision to stop making melamine. With the expansion of sales and the reduction of expenses, the company intends to focus on the management of resources on high value-added products and high market share products, thereby boosting the profitability of the chemical industry.
• In December 2021, Wilsonart Australia has been acquired by HVG from AICA Kogyo Co Ltd. In Somerton, Victoria, Wilsonart Australia produces cabinet doors and low-pressure melamine (LPM) panels.

Browse the full “Melamine Panel Market By Type (Particle Panels, Density Panels), By Application (Walls, Decorative Materials, Roof, Floors, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Predictions 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/melamine-panel-market

Global Melamine Panel Market is segmented as follows:

By Type

• Particle Panels
• Density Panels

By Application

• Walls
• Decorative Materials
• Roof
• Floors
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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