Flame Retardants Market for Engineering Resins Market by Type, Application and End-use - Global Forecast to 2026 - ResearchAndMarkets.com

The "Flame Retardants Market for Engineering Resins Market by Type (Brominated, Phosphorous), Application (PA, ABS, PET & PBT, PC, PC /ABS Blends), End-use (Electrical & Electronics and Automotive & Transportation) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The flame retardants market for engineering resins market size is estimated to be USD 1.7 billion in 2021 and is expected to reach USD 2.3 billion by 2026, at a CAGR of 7.2% during the forecast period 2021-2026.

Factors such as the growth of end-use industries and increasing fire safety regulations will drive the flame retardants market for the engineering resins market. Engineering plastics are increasingly used as substitutes for steel in automotive manufacturing processes to reduce the vehicle's weight and increase component efficiency. This is increasing the demand for flame retardants. The major restraint for the market will be environmental and health concerns and high loading levels associated with mineral-based flame retardants. However, the innovation in technology and the development of more effective synergist compounds for better performance will act as an opportunity for the market.

Brominated flame retardants are the largest type for flame retardants market for engineering resins market in 2020

Brominated compounds have vast applications in several industries. Brominated flame retardants have an inhibitory effect on combustion chemistry. They reduce the flammability of products. These are generally organobromine compounds and are most effective in plastic applications such as PA, ABS, PBT, PET, and PC. Bromine stops fire by interacting with the fire cycle in the gaseous phase and stops the chemical chain reaction. The flame retardant acts in two ways, either by preventing the fire from starting or by slowing it down significantly. They are added to materials such as plastics and do not alter the properties of the parent material. They are very effective flame retardants and used for end-use applications such as textiles, electronics, building materials, plastics, and foams.

ABS is estimated to be the largest application of flame retardants market for engineering resins market between 2021 and 2026.

ABS is a common amorphous thermoplastic polymer with no true melting point. It is produced by polymerizing styrene and acrylonitrile in the presence of polybutadiene. Acrylonitrile increases the heat deflection temperature of the compound and contributes to chemical resistance, hardness, and rigidity. In contrast, styrene gives a shiny and impervious surface to the plastic. ABS is an engineering plastic that is easy to manufacture and fabricate. ABS is an optimum material for applications when properties, such as resistance, strength, and durability are required. ABS has various end-use applications such as food handling & equipment, aerospace & defense, oil & gas, medical technology materials, and material handling & conveying.

North America is expected to be the largest flame retardants market for engineering resins market during the forecast period, in terms of value and volume.

North America is projected to be the largest market for flame retardants market for engineering resins during the forecast period. North America has dominated the global flame retardants market for engineering resins market. This dominance is attributed to the increasing use of flame retardants market for engineering resins is driven by stringent regulations and consumer awareness. Stringent and increasing environmental regulations and strict standards set by other regulatory authorities make North America a substantial market for flame retardant manufacturers. The demand for flame retardants market for engineering resins is growing, especially in APAC and the Middle East & Africa. Thus, the markets in these regions are expected to register higher growth in comparison to other regions.

Market Dynamics

Drivers

• Increase in Fire Incidents
• Strict Fire Safety Guidelines
• Huge Demand for Engineering Plastics in Various Industries

Restraints

• High Loading Levels of Mineral-Based Flame Retardants
• Harmful Chemicals Used in Flame Retardants
• Differences in Cost of Raw Materials

Opportunities

• Introduction of More Effective Synergist Compounds
• Rising Demand for Consumer Electronics Worldwide

Challenges

• Emphasis on Environmental Protection
• Impact of Toxic Chemicals Present in Flame Retardants

Companies Mentioned

• Akzonobel N.V.
• Albemarle Corporation
• Amfine Chemical Corporation
• Arkema Sa
• Axipolymer Inc.
• Basf Se
• Budenheim Chemicals Kg
• Celanese Corporation
• Century Multech, Inc.
• Clariant Ag
• Dongying Jingdong Chemical Co., Ltd.
• Dupont De Nemours, Inc.
• Greenchemicals Srl
• Gulec Chemicals GmbH
• Huber Engineered Materials
• Israel Chemicals Ltd. (Icl)
• Italmatch Chemicals S.P.A
• Lanxess Ag
• Nabaltec Ag
• Polyplastics Co., Ltd.
• Presafer (Qingyuan) Phosphor Chemical Co. Ltd
• Qingdao Fundchem Co., Ltd.
• Rtp Company
• Stahl Holdings B.V.
• Thor Company

For more information about this report visit https://www.researchandmarkets.com/r/9cvdum

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005613/en/