The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.

Global Melamine Formaldehyde Market to reach USD 11.56 billion by 2027.Global Melamine Formaldehyde Market is valued approximately USD 7.84 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.7 % over the forecast period 2021-2027.

Melamine-formaldehyde, a synthetic resin obtained by chemical combination of melamine and formaldehyde. Melamine formaldehyde is employed in plywood and particleboard adhesives, laminated countertops and tabletops, dishwasher-safe tableware, and automotive surface coatings. The market is mainly driven by growing Furniture industry as well as rising Construction industry, as melamine is largely used in these industries.

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According to Statista the global market value of furniture was worth USD 509.8 billion in 2020 and is forecasted to reach about USD 650.7 billion by 2027. Also, growing application of Melamine-formaldehyde in various end use industries is likely to increase the market growth during the forecast period. However, rising costs of raw material impede the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Melamine Formaldehyde market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. LAMEA is the leading/significant region across the world in terms of market share owing to overall Volume. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rapid industrialization and urbanization in the region, especially in China and India would create lucrative growth prospects for the Melamine Formaldehyde market across Asia-Pacific region.

Major market player included in this report are: Hexza Corporation Berhad (Malaysia) Allnex Netherlands B.V., BASF SE, Borealis AG, Chimica Pomponesco S.p.A (Gruppo Frati S.p.A), Eurotecnica Contractors and Engineers S.p.A. (Proman Holding AG), Hexza Corporation Berhad, Georgia-Pacific Chemicals LLC, Ineos Chemicals, Mitsui Chemicals, Hexion Inc. Nissan Chemical Industries Ltd

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below: By Product Type: Methylated Formaldehyde, Non-Methylated Formaldehyde By Grade: Industrial Grade Reagent Grade By Application: Laminates, Moulding Powder, Paints, Surface Coatings, Adhesives, Thermal, Insulation Foams, Others By End Use Industry: Construction and Building, Packaging, Electronics, Wood and Furniture, Automotive, Chemicals, Others

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This report answers the following key questions:

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