April 17, 2024

The Melamine Foam Block Market is propelled by rising demand for insulation in construction

Melamine foam blocks are rigid polyurethane foam insulation blocks commonly used in buildings for thermal and acoustic insulation applications. They are highly durable and offer insulation as well as soundproofing properties. Their closed-cell structure prevents dust and allergens from accumulating inside walls while also stopping transmission of impact noise between walls. Melamine foam blocks help reduce heating and cooling costs of buildings as they provide an R-value of around 3.5 per inch. They are easy to install and can be cut to required sizes and shapes.

The global melamine foam block market size was valued at US$ 1.257 billion in 2022 and is estimated to be valued at US$ 1.29 Bn in 2023. It is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Stringent regulations regarding energy efficiency in buildings are compelling builders to use advanced insulation materials like melamine foam blocks. Their high insulation properties ensure regulated indoor temperatures and lower yearly energy costs for homeowners and businesses. Melamine foam blocks are durable and do not degrade easily over time. They are also moisture and mold resistant. These self-extinguishing blocks make buildings safer as they are non-combustible. In addition, their soundproofing attributes help reduce noise transmission between walls for peaceful indoor environments.

Market key trends: One of the key trends in the melamine foam block market is growing demand from the industrial sector. Industries use melamine foam blocks for thermal and acoustic insulation of machines, pipes, ducts, and equipment. They prevent heat loss and minimize operational noise levels. Another major trend is increasing adoption in the transportation industry. Melamine foam finds application as insulation in vehicles, aircraft, ships and trains. It aids in maintaining optimum cabin temperatures while keeping occupant noise levels in check. The ability of melamine foam blocks to withstand vibrations makes them suitable for soundproofing in the automotive and aerospace industries.

Porter’s Analysis
Threat of new entrants: Low economies of scale needed for production as well as lack of proprietary technologies and brands pose low barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes such as foam and fiberglass.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of raw material alternatives and supply contracts.
Threat of new substitutes: Substitutes like urethane and fiberglass pose threat, however melamine foam offers advantages in terms of cost and energy efficiency.
Competitive rivalry: Intense competition among existing players to gain market share through product innovation and expansion.

Key Takeaways

The Global Melamine Foam Block Market Size is expected to witness high growth. The global melamine foam block market size was valued at US$ 1.257 billion in 2022 and is estimated to be valued at US$ 1.29 Bn in 2023. It is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Regional analysis reveals that Asia Pacific leads the market and is expected to maintain its dominance over the forecast period. Factors such as growing construction activities and furniture industries in China, India drive the growth of melamine foam block market in the region. North America is another major market for melamine foam block market. Increasing demand from automotive, marine, and transportation industries propels the market growth. Growing end-use industries and government efforts to strengthen infrastructure in Europe are likely to boost the regional melamine foam block market.

Key players operating in the Melamine Foam Block market are RhinoGear, Race Ramps, AutoZone, QuickJack, Discount Ramps, OTC Tools, Black Widow, BendPak, EZ Car Lift, Craftsman, Sunex Tools, RevZilla, Garage Living, Autobahn88, Torin Big Red. Key players focus on expanding their production facilities and product portfolio through strategic collaborations to strengthen their market position.

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