The melamine-faced chipboard market size is estimated to be valued at USD 4,784.1 million in 2021, and it is expanded to grow at a significant CAGR of 6.9% over 2022-2028. Increased demand for melamine faces chipboard from the end-user industries across the globe is driving the melamine-faced chipboard market. The growing use of melamine-faced chipboard in furniture and kitchen frames also boosts the market. Melamine is a stable material, and it is used in the kitchen mostly where spills and stains are common. The advantage of melamine-faced chipboard is that it can be cleaned very easily—the properties like versatile and considerably sturdy increase the demand for the melamine-faced chipboard. Key manufacturers’ increased research and development initiatives to develop new and innovative melamine-faced chipboard with fewer environmental implications are expected to provide lucrative opportunities. Furthermore, the increased usage of melamine-faced chipboard in adhesives for exterior wood panels is likely to boost the market growth. Melamine-faced chipboard offers greater water resistance. Again, the increasing usage of the material in the production of bamboo flooring tiles, laminates, and sawmill waste timbers is expected to boost the market growth. Increasing research and development activities also create opportunities for the market’s growth. Based on thickness 18 mm to 25 mm accounted for a larger revenue share and is projected to grow with a CAGR of 6.8% from 2022 to 2028 to reach USD 2,176.3 Mn by 2028. Based on application residential segment accounted for the larger share and is expected to grow in the forecast period due to increasing construction activities.
Recent Market Developments:
In January 2021, Pfleiderer developed microPLUS a few years ago to protect against bacteria and germs. Now, in addition to its antimicrobial effect, the surface technology has also been proven to have an antiviral effect. The microPLUS technology available for HPL products and melaminefaced DecoBoard provides planners, architects, and users with additional safety for sensitive or heavily frequented interiors with special requirements for robustness, ease of care and hygiene.
In January 2022, Starwood Capital Group, a private investment firm focused on real estate and energy investments, announced that a controlled affiliate has acquired a majority interest in the assets owned by Land Tejas, a Houston-based residential development company.