HMMM manufacturers are developing their product to serve the wide application spectrum such as tackifier, fabric, textile, leather products etc. For instance, Techno Waxchem Pvt Ltd.’s TECHNIC HM100 Hexamethyl Methoxy melamine resin meets the stringent requirements of cord-rubber properties of tire and non-tire industries. Moreover, it offers a balanced combination of good adhesion and excellent fatigue resistance.
A major driver for the growth of the global hexamethyl methoxy melamine market is growing construction industry. For instance, in 2015, global construction perspectives and oxford economics together stated that the global construction market is set to grow by $8 trillion by 2030, reaching a total size of $17.5 trillion and growing by an average annual rate of 3.9 percent by 2030.
However, toxicity arising due to consumption and disposal of hexamethyl methoxy melamine may hamper the growth of the global hexamethyl methoxy melamine market. For instance, according to a study published by the National Center for Biotechnology Information in May 2015, the presence of HMMM was found in 60 of 117 water samples from three river systems, with concentrations ranging between 10 and 880 ng/L.
According to Coherent Market Insights’ analysis, Asia Pacific is expected to be the fastest growing region in hexamethyl methoxy melamine market over the forecast period, owing to the rising use of fillers and additives in paints and coatings industry. According to the India Brand Equity Foundation in 2011, paints and coatings industry generated $3.6 billion and was estimated to grow to $ 8.2 billion in 2017.
China is the world’s largest consumer of hexamethyl methoxy melamine, owing to growing chemicals, paints, and coatings sector in the country