by Melamine foam block is a rigid high-performance thermal and acoustic insulation material made from a formaldehyde-based resin. It is widely used for soundproofing in various industries such as construction, automotive, and shipping due to its excellent noise absorption and heat insulation properties. Melamine foam block can reduce noise by absorbing sound vibrations and also provides outstanding thermal insulation by trapping air pockets within its closed-cell structure. The global Melamine Foam Block Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the melamine foam block market is its increasing usage in building and construction activities. Melamine foam blocks are highly preferred for soundproofing of walls, ceilings, and floors in residential as well as commercial buildings. The exceptional acoustic absorption and thermal insulation properties of melamine foam make it suitable for reducing noise transmission between rooms, offices, and other constructed spaces. Furthermore, rising construction of green buildings with improved indoor environmental quality has further boosted the adoption of melamine foam blocks for achieving higher energy efficiency and comfort levels.
Porter’s Analysis
Threat of new entrants: Low, as it requires high capital investment for facilities and R&D. Bargaining power of buyers: High, as market has large number of buyers and they demand price cuts. Bargaining power of suppliers: Low, as suppliers are fragmented and cannot influence prices. Threat of new substitutes: Low, as melamine foam has unique properties that cannot be easily substituted. Competitive rivalry: High, as market has large number of players offering similar products.
Key Takeaways
The global Melamine Foam Block Market Share is expected to witness high growth. Regional analysis comprises Regional analysis comprises North America and Europe dominate the global melamine foam block market currently. Key players related content comprises Key players operating in the melamine foam block market are Lockheed Martin, Northrop Grumman, Analytical Graphics, ExoAnalytic Solutions, Schafer, Etamax Space, Vision Engineering Solutions, Applied Defense Solutions, Spire Global, Harris.
The global melamine foam block market is forecast to reach a value of US$ 1.29 Bn by 2023 expanding at a CAGR of 7.8% during the forecast period. North America and Europe dominate the global melamine foam block market currently. Key players operating in the melamine foam block market are Lockheed Martin, Northrop Grumman, Analytical Graphics, ExoAnalytic Solutions, Schafer, Etamax Space, Vision Engineering Solutions, Applied Defense Solutions, Spire Global, Harris.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
