July 23, 2024

Increased Infrastructure Development To Fuel The Growth Of Melamine Foam Block Market

The Global 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 block is a high-performance thermal and acoustic insulating material. It has a closed-cell structure that acts as a barrier to the movement of air, water, vapor, and noise. Due to its excellent shock-absorbing properties and light weight, melamine foam blocks are used widely in construction applications such as walls, ceilings, and floors to provide insulation and soundproofing. Its high fire resistance also makes it suitable for manufacturing various thermal and acoustic insulators used in industrial equipment, automobiles and aircrafts. The moisture resistance and chemical stability of melamine foam blocks allow it to retain its insulating properties for a long duration without degradation.

Market key trends:
Rising construction of commercial buildings and public infrastructure globally is a major driver boosting the demand for melamine foam blocks. Its ability to provide superior insulation against heat, cold, moisture, and noise makes it an essential material for walls, floors and ceilings in malls, offices, hospitals, hotels etc. Growing urbanization in developing nations is also propelling numerous infrastructure development projects including highways, metro rails, airports which require acoustic and thermal insulation. Moreover, stringent government regulations regarding energy efficiency in buildings have increased the adoption of efficient insulation materials like melamine foam blocks. Manufacturers are also developing innovative melamine foam formulations with enhanced durability, strength and fire resistance to increase its usage in industrial machinery, heavy vehicles and military applications.

Porter’s Analysis
Threat of new entrants:
The melamine foam block market requires high initial investments for infrastructure and R&D. Stringent regulations further increase the entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, buyers prefer brands ensuring safety, quality and performance.
Bargaining power of suppliers: A large number of raw material suppliers exist globally. This reduces the individual supplier’s bargaining power over market players.
Threat of new substitutes: Substitutes include polyurethane, polyester and polyethylene foams. However, melamine foam offers superior sound absorption and fire resistance qualities.
Competitive rivalry: The market comprises numerous global and regional players. Market players focus on expanding their production capacities and geographical reach to gain market share.

Key Takeaways
The Global Melamine Foam Block Market Demand is expected to reach US$ 1.29 Bn by 2023, expanding at a CAGR of 7.9% during the forecast period. Increasing demand from automotive and industrial verticals for noise control is driving the market.

Regional analysis: Asia Pacific accounted for the largest market share in 2021, owing to rapid industrialization and urbanization in China and India. The APAC melamine foam block market is estimated to grow at over 8% CAGR during the forecast period.

Key players analysis: 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. These players are focusing on expanding production capacities and geographical reach through mergers and acquisitions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it