Flame Retardant Resins Market Size, Share, and COVID Impact Analysis, By Grade (Brominated, Phosphorus, and Others), By Resin Type (Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polycarbonate (PC)/ Acrylonitrile Butadiene Styrene (ABS) Blend, Polyamide (PA), and Others), By Application (Electrical & Electronics, Automotive & Transportation, Construction, and Others) and Regional Forecast, 2024-2032

Flame retardant resins are chemical substances that stop fire through their chemical properties. They are added to the combustible material during the polymerization process to enhance its fireproofing properties. They help to either stop or slow down the burning process. Hence, the demand for flame retardant resins from fire protection products is expected to drive the market during the forecast period.

Safety against fireproofing in electrical, electronics, and other industries has always been an opportunity for resin manufacturers. Hence, the increasing regulations, safety, and social awareness are anticipated to increase the adoption of fire retardant resins. This has led to the product consumption in cable & wires, construction products, automotive components, and interiors to slow down the spread of fires. Furthermore, halogen-free retardant created a growth space for the existing market, and the product encouraged the end-users to develop sustainable and eco-friendly alternatives for non-halogenated products.

The flame retardant resins offer great and extensive benefits to end-users, but their effects on human health and the environment are anticipated to hinder the flame retardant resins market. Currently, environmental impact is one of the significant disadvantages of the product. According to the National Centre for Biotechnology Information, halogens serve human health issues such as reproductive toxicity, neurologic dysfunction, thyroid disruption, and cancers. Hence, all these factors are anticipated to hamper the market growth.                       

Impact of COVID-19 on the Flame Retardant Resins Market 

Reduced demand for consumer electrical & electronics products declined the fire retardant resins market. Most countries, including the U.S., India, and China, imposed restrictions on both material and men. In response to this shortage of raw materials, the manufacturers have limited the production of flame retardant resins. The market players faced a decline in business operations. But in the current scenario, world trade is in the recovery phase, and companies are operating at total capacity.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Flame Retardant Resins


• Key Development of Flame Retardant Resins


• Impact of COVID-19 on Flame Retardant Resins Market

Analysis by Resin Type

Flame retardant resins types can be segmented into Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polycarbonate (PC)/ Acrylonitrile Butadiene Styrene (ABS) Blend, Polyamide (PA) and Others. Among the different resin types, Polybutylene Terephthalate (PBT) offers better fire retardant properties when incorporated in the fire retardant composites. It has outstanding mechanical, electrical, durability, mobility, low warpage, halogen-free, and remarkable glow wire properties, making it more appropriate for end-user industries. It also possesses a superb flame retardant effect in semiconductors and electrical laminates.

Regional Analysis

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Asia Pacific is the largest consumer of electrical and electronics products. Asian countries such as India and China have the potential to provide market growth opportunities for flame retardants. Additionally, Asia has rising activities in the construction industry due to the increase in the population. Hence, Asia Pacific is expected to show moderate market growth during the forecast period. The market in North America is expected to grow due to the implementation of safety rules & regulations in the U.S and Canada. The government rules and guidelines have provoked manufacturers to add flame retardant resins in the end products to enhance their properties. Furthermore, Europe’s fire retardant resin market is driven by the increasing use of fireproof materials in automotive. At the same time, Latin America and the Middle East are expected to grow with a moderate growth rate.

Key Players Covered

The report will include key players such as INEOS, Hexion Inc, Huntsman, BASF, Scott Bader Company Ltd, REICHHOLD, Mechemco, Normet, Smooth-On, Inc., Sicomin, and Others

Segmentation

Key Industry Developments

• In February 2022, Carbon, the 3D printing company, announced a newly unmatched combination of a flame retardant product called EPX 86FR. This product is a photopolymer resin type with an unmatched combination that allows functional toughness, high strength, and long-term stability.