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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