New York, Feb. 18, 2020 (GLOBE NEWSWIRE) -- The global brominated flame retardant market is forecast to reach USD 2.71 Billion by 2027, according to a new report by Reports and Data. The brominated flame retardants (BFR) are widely chosen organo-bromine, and halogen flame retardant compounds due to their inhibitory effect on the combustion chemical process. The brominated compound is highly effective in the reduction of flammability of materials especially in plastic and textile-based final products. Brominated Flame Retardant is mostly used in the manufacturing of printed circuit boards (PCBs), polymer foams, computer casing, electrical cables, and various insulation coatings, among others.
The continuous expansion of the consumer electronics, textile industries, leather industries, electrical systems, and flame insulation coatings, are expected to drive the demand of this market throughout the forecast period. Enormous usage of this flame retardant chemical in various components of consumer electronics products are the primary contributors to the market growth.
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Asia Pacific region is forecasted to grow fastest with the highest growth rate of 6.4% in the period 2019 – 2027, owing to high market penetration for consumer electronics and enormous use of brominated flame retardant in such products, especially in regions like India and China. China also has the largest market globally and the US has some of the most active players in the market.
Further key findings from the report suggest
- About 15 to 30% of the Tetrabromobisphenol A (TBBPA) brominated flame retardant is mixed in the unsaturated polyesters substance, which are then used in the fiber-reinforced plastics (FRP). Consumer electronics, household goods, automotive parts, and others. Unsaturated polyesters sub-segment is expected to grow at a CAGR of 6.7% during the forecast period.
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of the distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 34.1% by 2027, having grown with a CAGR of 9.7% throughout the forecast period.
- APAC is forecasted to retain its dominance in the worldwide market with the fastest growth rate of about 6.4% throughout the forecast period, owing to its extensive growth in the consumer electronics applications and continuous expansion of the textile products. China, and India are some of the fastest market propellers in this region.
- Europe would reach a market share of 25.3% by 2027 and would grow at a CAGR of 4.9% in the forecast period. Germany & Netherlands have some of the valuable players in this region.
- North America is forecasted to witness a significant growth in the overall market, with 21.6% of market possession by 2027 and a CAGR of 5.8% during the forecast period. US possesses the highest market share in this region and some of the vital players of the market.
- Key participants include Albemarle Corporation, Akzo Nobel N.V., Jiangsu Yoke Technology Co., Ltd., Velsicol Chemical Corporation, Israel Chemicals Ltd., Lanxess Aktiengesellschaft, BASF SE, Nabaltec AG, The Dow Chemical Company, and Clariant AG, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/brominated-flame-retardant-market
For the purpose of this report, Reports and Data have segmented the global brominated flame retardant market on the basis of the end-use verticals, type, sales channel, applications, and region:
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Consumer Electronics
- Textile & Leather Industries
- Polymer Industries
- Electrical Machineries
- Others
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Online Retailing
- Offline Retailing
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Tetrabromobisphenol A
- Decabromodiphenyl Oxide
- Octabromodiphenyl Oxide
- Pentabromodiphenyl Oxide
- Hexabromocyclododecane
- Others
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- Polyamides
- Styrene Copolymers
- Unsaturated Polyesters
- Polyolefins
- Polystyrene
- Others
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Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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