The global flame-retardant plastics market size was USD 47.47 Billion in 2021 and is expected to register a revenue CAGR of 3.8% over the forecast period, according to the latest report by Reports and Data.
The market for flame retardant plastics is in high demand due to increasing applications in the aerospace, defense, electrical and electronics, wire and cable, pipe and tank, transportation, building and construction, and marine sectors. Factors such as increased demand from the aerospace and defense sector, increased demand from the electrical and electronics sector, increased demand for thermoplastics to reduce CO2 emissions, and increased investment in research and development are driving the market growth. driving growth. The main advantage of flame retardant plastics in product design is to prevent small sparks from turning into large flames. Electronic products have potential sources of ignition from critical components such as transformers, circuit boards, batteries, and connectors. Flame-retardant plastics help reduce the risk of fire and are essential for manufacturers to ensure they meet fire safety standards.
Top Companies Operating in the Global Flame Retardant Plastics Market:
Covestro AG, DuPont, SABIC, Borealis AG, Huntsman Corporation, Olin Corporation, BASF SE, LyondellBasell, Showa Denko AA, HEXION Inc.
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Some Key Highlights from the Report
· Polyurethanes are widely used in the building, construction, automotive and transportation sectors. Polyurethane foams are used as fillings in a wide variety of products including furniture, bedding, carpet underlayment, automotive upholstery, and packaging. Flexible polyurethane foams account for nearly 30.0% of the total North American polyurethane market. Thermoplastic flame-retardant polyurethanes offer several other beneficial properties such as high modulus, abrasion resistance, flexibility and impact resistance.
· Thermoset plastics are expected to grow faster during the forecast period as they do not melt with increasing temperature and retain their shape and strength even at high temperatures. The main types of thermoplastic flame retardants are organophosphorus compounds, which can include phosphorus-halogen compounds and mixtures of phosphorus with halogenated flame retardants.
· In October 2019, Polymaker, an advanced additive manufacturing materials company, partnered with Covestro AG to launch three innovative multi-purpose polycarbonate-based additive manufacturing materials for a variety of industrial applications.
· In May 2020, DuPont Teijin Films announced the launch of a clear, flame-retardant polyester film made from polyethylene terephthalate (PET) to enhance safety in transportation, electronics, construction, label industries, and more.
Read full Report Description @ https://www.reportsanddata.com/report-detail/flame-retardant-plastics-market
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Flame Retardant Plastics Market Segmentation
Polymer Type Outlook (Revenue, USD Billion; 2019-2030)
· Polyvinyl Chloride
· Polyolefin
· Polyurethane
· Acrylonitrile Butadiene Styrene
· Polycarbonate
· Epoxy
· Polyester
· Others
Polymer Outlook (Revenue, USD Billion; 2019-2030)
· Thermoset
· Thermoplastic
Application Outlook (Revenue, USD Billion; 2019-2030)
· Aerospace & Defense
· Electrical & Electronics
· Wire & Cable
· Pipe & Tank
· Transportation
· Building & Construction
· Marine
· Others
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