by Melamine foam block is a closed-cell polyurethane foam with light weight and superior sound absorption properties. It is used in automotive and transportation industry for sound insulation in dashboards, doors and other interiors. With rising automotive production globally, demand for melamine foam blocks is steadily increasing as OEMs focus on noise, vibration and harshness reduction in vehicles.
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 5.9% 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 shaping the melamine foam block market is the rapid growth of the automotive industry. Global automotive production has been rising steadily over the past few years on account of factors such as rising disposable incomes, growing middle class population and urbanization in emerging economies. According to OICA, motor vehicle production reached over 93 million units in 2019 and is expected to grow further in the coming years. As automakers focus on enhancing vehicle interiors and providing noise-free ride experience to customers, demand for melamine foam blocks from the automotive industry is surging. Growing automotive industry will continue driving the melamine foam block market over the forecast period.
SWOT Analysis
Strength: Melamine foam blocks have high fire resistance, high density, high strength, easy to install and environment friendly. They can absorb noise and vibration very well.
Weakness: Melamine foam blocks can absorb moisture easily. They are brittle in nature and break easily upon impact. The raw materials required for production are also expensive.
Opportunity: Growing demand for soundproofing and acoustic insulation solutions in various end-use industries like automotive, construction and electronics presents an opportunity. Increasing projects of urban infrastructure development also offer scope.
Threats: Presence of substitute materials like fiberglass, rock wool and polystyrene foam poses threat. Stringent environmental regulations associated with foam production can adversely impact the market.
Key Takeaways
The Global Melamine Foam Block Market Size is expected to witness high growth. 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 5.9% over the forecast period 2023 to 2030.
Regional analysis comparises Asia Pacific dominating the market currently due to presence of major manufacturing countries like China. The APAC melamine foam block market is projected to grow at a CAGR of 6.2% during the forecast period.
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. These companies are focusing on new product launches and expansion strategies 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
