The Melamine Foam Block Market Is Estimated To Witness High Growth Owing To Rising Demand In Insulation Applications

The Melamine Foam Block Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Melamine foam blocks are lightweight, porous material that provides excellent insulation and acoustic properties. It is produced by adding blowing agents to a formaldehyde–melamine–sodium bisulfite copolymer which creates a thermal barrier composed of closed gas cells. Melamine foam blocks find wide applications in soundproofing, thermal insulation, vibration damping, and shock absorption among others due to their closed cell structure and thermal insulating properties.

Market key trends:
One of the key trends fueling the melamine foam block market growth is rising demand from the construction industry. Melamine foam blocks are increasingly used for thermal and acoustic insulation in walls, ceilings, floors, and doors & windows of residential as well as commercial buildings. They provide enhanced insulation as compared to traditional materials like fiberglass. Moreover, they are non-toxic and environment friendly. This is further augmenting their adoption over alternatives in the green building construction sector. Their lightweight and easy installation process has also increased preference over rigid foam insulation in renovations and refurbishments. Growing construction activities especially in developing regions of Asia Pacific and Latin America are expected to drive the demand for melamine foam blocks over the forecast period.

Porter’s Analysis
Threat of new entrants: The melamine foam block market requires high initial investments and capital requirements to set up production plants which acts as a deterrent for new players.
Bargaining power of buyers: The buyers have moderate bargaining power due to the presence of substitutes like polyurethane foam and presence of established players.
Bargaining power of suppliers: The raw material suppliers have low to moderate bargaining power due to availability of raw materials from multiple sources globally.
Threat of new substitutes: Substitutes like polyurethane foam present threat, however melamine foam blocks have advantages over substitutes in terms of acoustic insulation.
Competitive rivalry: Intense due to presence of established players.

SWOT Analysis
Strength: High acoustic insulation properties and environment friendly nature are the key strengths.
Weakness: High cost of production and dependence on limited number of raw material suppliers are weaknesses.
Opportunity: Increasing applications in soundproofing, thermo-insulation sectors and construction industry presents new opportunities.
Threats: Fluctuations in raw material prices and emergence of new substitutes pose key threats.

Key Takeaways
The Global Melamine Foam Block Market Demand is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing demand from construction and automotive industry. The Asia Pacific region dominated the global melamine foam block market in 2023 with China being the largest producer and supplier. Regional analysis related content (The Asia Pacific region is projected to maintain its dominance in the melamine foam block market during the forecast period. This is attributed to the growth of construction industry, expanding automotive sector and rising applications of melamine foam blocks for insulation and soundproofing in countries like China, India and Japan).

Key players operating in the melamine foam block market are BASF SE, SINOYQX, Puyang Green Yingli New Material Tech Co. Ltd, BEIJING GUOJIAN ANKE, ZHEJIANG LIN’AN YUNQING MELAMINE PLASTIC FOAM CO., PentaClick, Acoufelt, Clark Foam, Reilly Foam Corporation, Soundcoat, Festa.

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