Melamine foam blocks are lightweight, compressible, and have the ability to absorb up to 97% of sound that comes in contact with them. They are widely used as sound insulating material in walls, ceilings, doors, and windows of residential and commercial buildings to reduce noise pollution. The blocks help to reduce noise transmission from one room to another or from outdoors. The compressible nature of the blocks allows easy installation at tight spaces.
The global melamine foam block market is estimated to be valued at US$ 1.29 Bn 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 Opportunity: Noise and Vibration Reduction
Noise and vibration reduction is a major market opportunity for melamine foam blocks. According to the World Health Organization (WHO), around 1.1 billion youngsters are at danger of hearing misfortune due to extended introduction to loud sounds. In addition, high levels of noise adversely affect mental and physiological well-being of humans. Melamine foam blocks provide effective noise reduction of up to 97% and help manufacturers comply with stringent noise pollution regulations. Their ability to attenuate noise will drive their increased adoption in industries, automotive, aerospace, and construction projects worldwide for achieving a quiet working environment.
Porter's Analysis
Threat of new entrants: Low barriers to entry such as low capital requirements. However, the presence of major players dominating distribution channels poses threat.
Bargaining power of buyers: High due to availability of substitutes. Buyers can choose substitutes like polyurethane foam easily.
Bargaining power of suppliers: Moderate. Major raw material suppliers have ability to impact prices.
Threat of new substitutes: High threat from alternative insulation materials such as polyurethane foam and mineral wool.
Competitive rivalry: High competition due to low product differentiation. Players focus on pricing strategies to gain market share.
SWOT Analysis
Strengths: Melamine foam offers efficient thermal and sound insulation. It is durable and environment friendly.
Weaknesses: Limited applications and availability of substitutes. Processing melamine foam requires specialized technology.
Opportunities: Growing insulation market worldwide driven by construction and automotive industries.
Threats: Stringent regulations over formaldehyde emissions during production. Volatility in raw material prices.
Key Takeaways
The Global Melamine Foam Block Market Size is expected to witness high growth due to increasing construction activities especially in Asia Pacific region. The global melamine foam block market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Regional analysis shows that China dominates the melamine foam block market worldwide accounting for over 60% market share. Low priced Chinese melamine foam products are gaining popularity in Western markets.
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. Rising demand for affordable thermal insulation solutions in automotive, construction and refrigeration industries is expected to drive market growth over the forecast period 2023 to 2030.
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