CHICAGO, April 16, 2021 /PRNewswire/ -- According to the new market research report "Halogen-Free Flame Retardant BOPET Films Market by End-use Industry (Electrical Insulation, Transportation, Building & Construction), Region (APAC, North America, Europe, Rest Of World) - Global Forecast to 2026", published by MarketsandMarkets, the Halogen-Free Flame Retardant BOPET Films Market size is projected to grow from USD 9 million in 2021 to USD 13 million by 2026, at a CAGR of 7.5%. The halogen-free flame retardant BOPET films market is witnessing growing demand from end-use industries such as electrical insulation, transportation, and building & construction.
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Electrical Insulation is the largest end-use industry segment of the halogen-free flame retardant BOPET films market.
The electrical insulation segment accounted for the largest share in the global halogen-free flame retardant BOPET films market during the forecast period. The increase in manufacturing of wires & cables and rising demand for high quality consumer electronics will drive the market. Halogen-free flame retardant BOPET films are used for insulation applications in motor winding, transformers, television screen films, battery labels, flexible printed circuits, wires & cables (secondary insulation), and semiconductors. Moreover, halogen-free flame retardant BOPET films are used to match the level of fire resistance that must be achieved based on the fire safety standards.
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APAC is the largest and fastest-growing market for halogen-free flame retardant BOPET films market.
APAC is projected to be the largest market for halogen-free flame retardant BOPET films during the forecast period and is projected to register the highest CAGR. The high economic growth in developing countries and increasing disposable incomes have made APAC an attractive market for halogen-free flame retardant BOPET films. The tremendous growth of industrial production increased trade, and the implementation of stringent regulations are primarily responsible for the high consumption of halogen-free flame retardant BOPET films in the region. Toray Industries, Inc. (Japan), Mitsubishi Chemical Holdings Corporation (Japan), DuPont Teijin Films (US), Shanghai Huzheng Industrial Co., Ltd. (China), MainyangProchema Commercial Co. Ltd. (China), and Teraoka Seisakusho Co. Ltd. (Japan) are the key players operating in the halogen-free flame retardant BOPET films market.
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Halogen-Free Flame Retardants Market by Type (Aluminum Hydroxide, Organophosphorus), Application (Polyolefins, UPE, ETP, Styrenics), End-Use Industry (Electrical & Electronics, Construction, Transportation), Region - Global Forecasts to 2025
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