The flame retardant plastics market is expected to be valued at USD 61.87 billion in 2027 from USD 45.73 billion in 2019, registering a CAGR of 3.8% through the forecast period, according to a recent report by Emergen Research. High demand due to increasing demand from the aerospace and defence sectors is observed in the flame retardant plastics market. Increased flight hours require enhanced safety measurements for on-flight passengers, crew, and valuables to be carried out. Aircraft fire hazards are a leading cause of aircraft accidents and may be prevented by the deployment of a suitable plastic flame retardant in the design and production of aircraft and interior furnishings. In addition, the use of plastic that is flame retardant makes the aircraft lightweight and reduces fuel consumption, thus improving the mileage.
In multi-storey residential, commercial, and industrial buildings, building & construction products need to meet several performance requirements that are of immense importance. Flame retardant plastic helps to provide the building structure with security and to save the occupants’ lives.
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Key Highlights From The Report
- Polymaker, a company engaged in advanced additive manufacturing materials, entered into a partnership with Covestro AG in October 2019 for the introduction of three innovative additive manufacturing materials based on multipurpose polycarbonate for several industrial applications.
- In electrical and electronic appliances, including computers, televisions, radios, washing machines, and refrigerators, brominated flame retardant plastics are used. They are also used in automotive and construction & construction applications as well.
- Due to its extensive use in the manufacture of aircraft components such as the cockpit, tanks, bulkheads, payload fairing, wing-body fairing, seat components, and doors, the carbon fibre reinforced polymers experience significant consumption of flame retardants.
- Due to the increasing use of flame retardant plastics in the aerospace and automotive sectors, Europe contributed to the second largest market share in 2019. This is also due to the increase in the number of construction projects in Eastern Europe. In addition, stringent legislative regulations for the use of environmentally friendly flame retardant materials are responsible for the region’s market growth.
- 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 polymer 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 Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/flame-retardant-plastics-market