According to a recent report by Emergen Research, the global for flame retardant plastics market is expected to be valued USD 61.87 billion by 2027. The market for flame-retardant polymers is seeing strong demand, which may be due to the expanding demand from the aerospace and defence industries. The development of improved safety measures for on-flight passengers, crew, and valuables is required due to an increase in flight hours. By using an appropriate flame retardant plastic in the design and manufacture of an aircraft and interior furnishings, fire dangers in an aircraft—a major contributing factor in aircraft accidents—may be avoided. In addition, using flame retardant plastic makes the aircraft lighter and uses less fuel, increasing mileage.
In the event of a fire, specifically formulated plastics known as flame-retardant thermoplastics are employed in applications that call for low flame and smoke. These polymers must adhere to the requirements outlined in the regulations and are governed by a number of laws. To create new and improved grades of flame retardant thermoplastics, ongoing research and development operations are conducted. By establishing strict criteria, the aviation industry has transformed the market for flame retardant thermoplastics. Thermoplastics come in a variety of flame-retardant grades and are frequently combined with fibreglass.
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Opportunities: Rising demand for consumer electronics worldwide
Electronic products utilise flame retardants to adhere to flammability regulations. They are utilised because they are compatible with electronics, blend well, have a high flame resistance, and have superior electrical insulating properties. Halogenated flame retardants, which were previously used, are harmful. These fire retardants leak halogen, which can be exceedingly harmful, into the environment when electronic items come into contact with fire. As a result, businesses are embracing more eco-friendly and secure alternatives, like halogen-free flame retardants. The main drivers of the electronics industry’s explosive expansion worldwide are the widespread use of technology and the rapidly expanding middle class.
Further key findings from the report suggest
The carbon fiber reinforced polymers find substantial consumption of flame retardants due to its extensive usage in the production of aircraft components such as the cockpit, tanks, bulkheads, payload fairing, wing-body fairing, seat components, and doors.
Europe contributed to the second-largest market share in 2019 due to the increasing application of flame retardant plastics in the aerospace and automotive sector, along with a rise in the number of construction projects in Eastern Europe. Besides, stringent legislative regulation for the use of environmental-friendly flame retardant materials is causative of the market growth in the region.
Brominated flame retardants is the largest type for flame retardants market for engineering resins market in 2020
Brominated compounds have a wide range of applications in various industries. Bromine-based flame retardants interfere with the chemistry of burning. They reduce the flammability of things. These work best with plastics like PA, ABS, PBT, PET, and PC since they mostly include compounds with the organobromine ring. Bromine extinguishes fire by interacting with the gaseous stage of the fire cycle and stopping the chemical chain reaction. Either the flame retardant prevents the fire from starting or it significantly slows it down. They are added to substances like plastics but do not alter the properties of the base substance. They are employed in end-use applications such textiles, electronics, construction materials, plastics, and foams and are particularly effective flame retardants.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period.
Top competitors of the Flame Retardant Plastics Market profiled in the report include: Key participants include Covestro AG, DuPont, SABIC, Borealis AG, Huntsman Corporation, Olin Corporation, BASF SE, LyondellBasell, Showa Denko AA, and HEXION Inc., among others.
Emergen Research has segmented the global flame retardant plastic market on the basis of material type, polymer group, application, and region:
Polymer Type Outlook (Revenue, USD Billion; 2017-2027)
- Polyvinyl Chloride
- Polyolefin
- Polyurethane
- Acrylonitrile Butadiene Styrene
- Polycarbonate
- Epoxy
- Polyester
- Others
Polymer Group Outlook (Revenue, USD Billion; 2017-2027)
- Thermoset
- Thermoplastic
Application Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace & Defense
- Electrical & Electronics
- Wire & Cable
- Pipe & Tank
- Transportation
- Building & Construction
- Marine
- Others
Regional Analysis of the Flame Retardant Plastics Market :
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Objectives of the Report:
- Analysis and estimation of the Flame Retardant Plastics Market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Flame Retardant Plastics Market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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