The global sales of thermally fused laminates increased from 1018.3 M Sq.m in 2013 to 1224.9 M Sq.m in 2017, at a CAGR of 2.67%. In 2017, the global thermally fused laminates market is led by China. Europe is the second-largest region-wise market. The global thermally fused laminates (TFL) market is valued at USD 10441 million in 2017 and is expected to reach USD 13950 million by the end of 2024, growing at a CAGR of 4.23% between 2017 and 2024.
Currently, Kronospan M&P Kaindl, TEEHOME, Swiss Krono Group, Roseburg, Arauco and Sonae Industria are major manufacturers of this industry. Kronospan M&P Kaindl is a global leader. In 2017, the sale of Kronospan M&P Kaindl was 77.4M Sq.m, and the company held a share of 6.32%. In the US market, Roseburg and Arauco have an absolute market share. Kronospan M&P Kaindl, Swiss Krono Group and Sonae Industria are leaders in the European market. In short, the market concentration in Europe and the United States is high, and a few companies occupy the majority of market share. TEEHOME, Fuxiang and AICA Kogyo are well-known brands in the Asia-Pacific market. The Asia-Pacific market is extremely fragmented.
More than 70% of global melamine consumption is for laminates and wood adhesives production. Laminates are found in products such as furniture, floors, kitchen cabinets and countertops, and walls. Wood adhesives based on melamine are found in a number of wood products including medium-density fiberboard (MDF), particleboard, and plywood. Melaminemodified wood adhesives improve the durability and moisture resistance of the final woodboard.At the same time, most medium-density fiberboards (MDF) are processed into TFL. A small number of MDF are sold directly as raw materials.
Overall economic performance will continue to be the best indicator of future demand for TFL. Demand in most downstream markets is greatly influenced by general economic conditions. As a result, demand largely follows the patterns of the leading world economies.
Continued efforts to reduce formaldehyde emissions are likely to continue in all regions. This has a positive effect on TFL consumption since melamine is a strong formaldehyde-binding agent. So-called “low-formaldehyde” boards use more melamine-modified wood adhesives in their manufacture. Increased melamine content results in reduced formaldehyde off-gassing. TFL is mainly used for furniture, interior decoration and store fixtures. In 2017, furniture application held 47.5% of the consumption market share.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area. In the future, the market in developed countries will have some growth and the market in developing countries will have a faster growth rate.