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Growth of Melamine Formaldehyde Market by Industry, Manufacturers, Regions and Application 2018-2022

Growth of Melamine Formaldehyde Market by Industry, Manufacturers, Regions and Application 2018-2022

Upsurge in furniture and construction industries, increase in disposable income in the emerging economies, and increased focus of government bodies on controlled formaldehyde emission are the prime factors that propel the demand for melamine formaldehyde. However, availability of substitutes at lesser cost have the potential to hamper the market growth during the forecast period.

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Melamine Formaldehyde Market by Application

Melamine Formaldehyde Market by Application

Rise in end- use industries such as furniture, building & construction, etc., coupled with soaring demand from emerging economies such as China, Japan, etc., is anticipated to drive the melamine formaldehyde market globally. Also, this growth is largely fueled by the increasing applications, technological advancements, and growing demand in the Asia-Pacific region. Key end user markets for melamine formaldehyde vary from construction to packaging and labeling, woodworking, transportation, footwear, and automotive industry. These major end user industries are growing, which in turn has spurred the growth of melamine formaldehyde.

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Latest trends in melamine formaldehyde market

Latest trends in melamine formaldehyde market

The melamine formaldehyde market is estimated to reach $4.4 Billion by 2019, signifying a CAGR of 9.9% between 2014 and 2019 The global market, along with its applications, showed a high growth in the past few years and is estimated to continue the same growth in coming years. An increase in demand in end- use industries such as automotive, packaging, building & construction, and other applications are the key influencing factors for the global market.

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