The global low smoke halogen free flame retardant polypropylene (PP) market is expected to reach USD 893.9 million by 2024. The increasing construction spending particularly in emerging economies is one of the major reason fueling the market growth.
Flame retardant PP provides an additional layer of protection against fire. However, high investment cost and development of other alternative products are anticipated to be the major factors which can affect the market growth. Further, environmental hazards related to halogenated flame retardants have forced governments across the globe to implement strict laws and regulations to discourage their usage.
Companies around the world are focusing on new and better technologies with the help of which they can develop new halogenated flame retardant polypropylene based products for end-use industries such as construction, automotive, and electronics, furniture, packaging, and labeling.
The global low smoke halogen free flame retardant polypropylene (PP) market demand was 190.2 kilo tons in 2015 and is expected to reach 391.5 kilo tons by 2024, growing at a CAGR of 8.5% from 2016 to 2024
Demand for low smoke halogen-free flame retardant polypropylene (PP) in construction application is expected to be the fastest-growing segment and is anticipated to grow at a CAGR of 8.9% over the forecast period
Considerable growth in population coupled with rapid urbanization across the globe in the recent past is expected to increase the construction activities. Rising disposable income has also boosted the global construction industry.
In 2015, North America was the largest market for halogen-free flame retardant PP and was worth USD 134.1 million. The growth in the construction and electrical & electronics sector of the region is contributing to the demand.
Asia Pacific is expected to be the fastest growing market for over the forecast period. With the growth of major end-use industries such as construction, electrical & electronics and automotive sector across the region, the halogen free flame retardants PP market is also expected to propel.
- Huber Engineered Materials
- Israel Chemicals Ltd.
- Chemtura Corporation
- Clariant International Ltd.
- BASF SE
- Thor Group Limited
- Lanxess A.G.
- FRX Polymers, Inc.
- Nabaltec AG
- Delamin Ltd.
- Washington Penn Plastic Co., Inc.
- RTP Company
- PolyOne Corporation
- Shanghai Info New Material Technology Co., Ltd.
- PolyPacific Pty Ltd.
1 Methodology And Scope
2 Executive Summary
3 Market Snapshot
4 Market Variables, Trends & Scope
5 Market Categorization 1: Application Estimates & Trend Analysis
6 Market Categorization 2: Regional Estimates & Trend Analysis, by Product & Application
7 Competitive Landscape
8 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/njdtj6/low_smoke_halogen
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SOURCE Research and Markets