Flame retardant thermoplastic are generally used for applications which involves low flame and smoke when there is a fire outbreak. Several regulations are formed which have to be fulfilled by these plastics. Additionally, various thermoplastics are blended with fibreglass and are manufactured in flame retardant grades. The global flame-retardant thermoplastic market is anticipated to record a CAGR of ~6% throughout the forecast period, i.e., 2022-2030.
The market is also anticipated to grow on account of the growing sales of vehicles worldwide and the increased focus of vehicle manufacturers to use materials that can lower the propagation speed of fire in case of any such incidences. Based on application, the market is bifurcated into electrical and electronic, construction, industrial, transportation and others, out of which, the electrical and electronic segment is anticipated to hold the highest share throughout the forecast period owing to enormous usage of the product in refrigerators, vacuum cleaners, TV sets, smartphones and others.
Research Nester published a report titled “Flame Retardant Thermoplastic Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global flame retardant thermoplastic market in terms of market segmentation by product, coating, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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Based on the regional analysis, the global flame retardant thermoplastic market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, Middle East & Africa region. The market for flame-retardant thermoplastic in Asia Pacific is anticipated to hold the leading share on the back of rising urbanisation as well as industrialization in the region. Furthermore, emerging economies such as India, China and others are the major users of electronic products which is further anticipated to drive the market growth in the region.
Increasing Demand for Flame Retardant Thermoplastics from End User Industries
Flame retardant thermoplastics is utilized widely in several end user industries for varied purposes. In the transportation industry, it is used by vehicle manufacturers to build internal components. Flame retardant thermoplastics when used in the internal components of vehicles helps to lower the propagating speed of flames in an incidence of fire. In the electrical and electronics industry, these plastics are used widely to manufacture different electrical and electronic components. Moreover, owing to their thermal properties, these plastics provide numerous benefits while manufacturing different products, which is anticipated to drive the market growth during the forecast period.
However, concerns regarding the high cost of manufacturing these plastics as this needs to be compliant with standards which further makes the development cost as well as the overall cost high, is anticipated to lower the market growth during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of global flame retardant thermoplastic market which includes company profiling of BASF SE, Toray Industries, Inc., Clariant, J.M. Huber Corporation, PMC Polymer Products, Inc., Teknor Apex, Avient Corporation, Washington Penn, Albermarle Corporation, Polyvisions Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global flame retardant thermoplastic market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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