Portland, OR -- (ReleaseWire) -- 07/07/2014 --Melamine resin or Melamine formaldehyde is hard and thermosetting plastic prepared through polymerization. It is mixed with xylene and n-butanol when it is in butylated form and then cross linked with alkyd, acrylic epoxy, and polyester resins to be used in surface coatings. Melamine resins have same applications as Urea resins; however, the former has few superior characteristic such as moisture resistant.

The growing demand for paints & coatings, paper, secondary processed products, textiles sectors and automotive in China would drive the market during 2013-2020. Further, growing market of furniture and construction industry would have a positive impact on the market. The major limiting factor for the market is its changing price of raw materials. The melamine resins are expected to benefit from the increased demand in automotive industry and its prospect of being used as an alternative to urea formaldehyde.

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Melamine resins find its applications for products such as Tableware, Adhesives, Laminates, Paints & Coatings, Electricals & Household Appliances, Sanitary Ware, and Others. The application of melamine resin is in laminate industry is predominant due to its resistance to U.V rays, water, fire and light.

In terms of geography, the market is segmented into Europe, North America, Asia Pacific and Rest of the World. Applications of melamine formaldehyde are expected to reduce in North America due to stricter government regulations regarding formaldehyde emissions. In Asia Pacific, China drives the market growth.

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The key players dominating the market are INEOS Group, Borealis Group, BASF SE, OCI Nitrogen BV, Mitsui Chemicals, and Momentive Specialty Chemicals. BASF has developed Basotect W, an enhanced version of melamine resin that works efficiently over the previous versions.

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