CHICAGO, April 18, 2024 /PRNewswire/ -- The report
"Flame Retardant Market for Engineering Resins
Market by Type (Brominated, Phosphorous), Application
(Polyamide, ABS, PET & PBT, PC/ABS Blends), End-use Industries
(Electrical & Electronics, Automotive & Transportation)
& Region - Global Forecast to 2029", size is USD 2.0 billion in 2024 to USD 2.9 billion by 2029, at a CAGR of 7.6% from
2024 to 2029.
Flame retardant for engineering resins Flame retardants for
engineering resins are used to enhance the fire resistance of
materials such as ABS, PET & PBT, PC/ABS Blends, polycarbonate,
polyamide, and others. They are added to reduce the flammability of
these resins and meet safety regulations in various industries,
including automotive & transportation, electrical &
electronics, and other end-use industries. With ever increasing
demands in the industry, flame retardant for engineering resins
continue to evolve and become more innovative to meet these
demands.
Browse in-depth TOC on "Flame Retardant Market for
Engineering Resins Market"
423 – Tables
58 – Figures
346 –
Pages
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"Brominated flame retardants segment was the
largest type in flame retardant market for engineering resins in
2023, in terms of value."
Brominated flame retardants are estimated to be the largest type
in the flame retardant for engineering resins market in 2024 due to
their high effectiveness in reducing flammability and their wide
availability. Despite growing concerns over their environmental and
health impacts, they continue to dominate the market owing to their
proven efficacy and relatively lower cost compared to alternatives.
Additionally, their established usage in various industries and
regulatory compliance contribute to their continued prominence in
the market.
"Polyamide segment is estimated to be the fastest-growing
application for flame retardant market for engineering resins
during the forecast period 2024 to 2029."
The Polyamide segment is forecasted to be the fastest-growing
application in the flame retardant for engineering resins market
from 2024 to 2029 due to several factors. Firstly, the increasing
demand for lightweight and durable materials in the automotive and
electrical industries drives the adoption of Polyamide-based
engineering resins. Secondly, stringent safety regulations and the
need for fire-resistant materials in these applications propel the
demand for flame retardant additives in polyamide formulations,
contribute to its rapid growth trajectory in the flame retardant
engineering resins market during this period.
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"Automotive and transportation segment is estimated to be the
fastest-growing end-use industry for flame retardant market for
engineering resins during the forecast period 2024 to
2029."
The automotive and transportation sector is expected to
experience the highest growth rate in the flame retardant for
engineering resins market between 2024 and 2029. This growth is
driven by increasing demand for lightweight materials in vehicles
to improve fuel efficiency and reduce emissions. Additionally,
stringent safety regulations mandating fire resistance in
automotive components contribute to the rising need for flame
retardant additives in engineering resins. Furthermore, ongoing
innovation in engineering resin formulations tailored for
automotive applications further accelerates growth in this
sector.
"North America was the
largest region for the flame retardant market for engineering
resins in 2023, in terms of value."
North America emerged as the
leading region in the flame retardant for engineering resins
market, primarily driven by several factors. This includes the
region's strong manufacturing infrastructure and technological
advancements, which facilitate the production of top-notch
flame-retardant engineering resins. Moreover, stringent safety
regulations across key industries like automotive, electronics, and
construction propel the demand for flame-retardant materials.
Additionally, North America's
market dominance is reinforced by the presence of major industry
players and well-established distribution networks.
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Market Players
The key market players identified in the flame retardant for
engineering resins market report are Albemarle Corporation (US),
LANXESS AG (Germany), BASF SE (Germany), Israel Chemicals Ltd. (Israel), Huber Engineered Materials (US),
Clariant AG (Switzerland), DuPont
De Nemours, Inc. (US), Nabaltec AG (Germany), Italmatch Chemicals S.p.A
(Italy), RTP Company (US), and
Chemische Fabrik Budenheim KG (Germany) and others.
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