Flame Retardant Plastics Market Size To Be Worth USD 61.87 Billion by 2027 | Emergen Research
21 December 2020
Vancouver, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The Global Flame Retardant Plastic Market is projected to be worth USD 61.87 Billion by 2027, according to the current analysis by Emergen Research. The flame retardant plastic market is observing high demand attributed to the growing demand from the electrical & electronics sector. The widespread use of plastics in electrical devices and equipment has resulted in an extensive deployment of flame retardant plastics to avoid any kind of fire hazard arising out of several reasons, including short circuit. A vital advantage of flame retardant plastics in product design is that they are beneficial in averting small sparks from turning into huge flames. Electronic products possess a potential source of ignition produced by the crucial components, such as transformers, circuit boards, batteries, and connectors, among others. Flame retardant plastics aid in the reduction of fire risk and are essential for ascertaining manufacturers to comply with fire safety standards.
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Key Highlights From The Report
- In May 2020, DuPont Teijin Films announced the launch of clear flame retardant polyethylene terephthalate (PET) polyester films for enhanced safety in the transportation, electronics, construction, and label industries, among others.
- Polyester is characteristically flame retardant due to its fabric structure and woven type, thus not requiring any chemical treatment.
- Thermosets are likely to witness a significant growth rate in the forecast period as these plastics do not melt with the rise in temperature, and hence the shape and strength are retained at higher temperatures.
- Marine vessels and naval ships use flame retardant plastic materials to deal with the intrinsic plastics’ vulnerability to regular fire threats during maritime operations.
- The market in the Asia Pacific region contributed to the largest market share in 2019 due to the growth in the consumer electronics, electrical, and automotive industries. Besides, the growing building and construction industry in emerging economies, such as India and China, and a rise in the level of disposable income of people are driving the market demand.
- Key participants include Covestro AG, DuPont, SABIC, Borealis AG, Huntsman Corporation, Olin Corporation, BASF SE, LyondellBasell, Showa Denko AA, and HEXION Inc., among others.
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Emergen Research has categorized the Global Flame Retardant Plastic Market on the basis of polymer type, polymer group, application, and region:
- Polymer Type Outlook (Revenue, USD Billion; 2017-2027)
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
- Polymer Group Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace & Defense
- Electrical & Electronics
- Wire & Cable
- Pipe & Tank
- Building & Construction
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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