Global Flame Retardant Polyamide Market Size Is Set to Hit $1.4 Billion by 2030, At a CAGR of 6.64%

New York, NY, July 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Flame Retardant Polyamide Market By Type (Halogen Type And Halogen-Free Type), By Application (Electrical Appliances, Automotive, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Flame Retardant Polyamide Market size & share in terms of revenue was valued at USD 842.16 million in 2022 and it is expected to surpass around USD 1,402.3 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.64% during the forecast period 2023 to 2030.”

What is Flame Retardant Polyamide? How big is the Flame Retardant Polyamide Industry?

Flame Retardant Polyamide Report Coverage & Overview:

Polyamide with flame retardant properties is a type of plastic that has properties that prevent it from catching fire. Foams, mattresses, automobile parts, computers, electric cables, insulating materials, and computers are some of the products that have them added to them. In addition, the product is used extensively in the production of electronic castings, printed circuit boards, and circuit processing. Aside from this, a growth in sales is likely to occur as a result of a growing demand for the product in the electrical and electronic industries. In addition, the use of flame-retardant compounds in high-performance polymers, such as polyamides, is growing at a rapid rate. 

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Global Flame Retardant Polyamide Market: Growth Dynamics

Over the period 2023-2030, massive product penetration in a variety of end-use industries will accentuate the trends of the global market.

The growth of the flame retardant polyamide market all over the world will be accelerated by the widespread application of products in the automotive, electronics, and electrical industries. As original equipment manufacturers (OEMs) look to replace halogenated flame retardants used in polyamides with halogen-free alternatives, it is expected that the market will gain pace in the years to come. The need for flame-retardant polyamides has developed as a result of the massive requirement to improve thermal stability in a wide variety of applications. This demand has been the driving force behind the expansion of the market across the world. Because of stringent government legislation regarding the outbreak of fires, there has been a massive increase in the need for flame retardants, which has directly contributed to the enormous expansion of the market all over the world.

The flame retardant polyamide market around the world is likely going to benefit from the introduction of new product releases as well as advances in existing product types. For example, in May 2022, BASF SE, a major participant in the field of specialized chemicals, introduced Ultramid® A3U44G6 DC OR, a novel flame retardant polyamide that retains its color over time. This action is being taken with the intention of increasing the scope of the company's portfolio of flame retardant engineering plastic across the eMobility industry. A new variety of red phosphorous flame retardant polyamide materials was presented by BASF SE in September of 2020. According to reports, it is anticipated that the newly developed device would satisfy the growing demand for high-performance power electronics in the industry in Asia.

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Report Scope

Flame Retardant Polyamide Market: Segmentation Analysis

The global flame retardant polyamide market is sectored into type, application, and region.

In type terms, The global flame retardant polyamide market may be broken down into two distinct segments: those that contain halogen and those that do not. In addition to this, it is anticipated that the halogen type segment, which accounted for more than one-fourth of the global market share in 2022, will register the highest CAGR during the period of time covered by the research. It is possible that the capacity of halogens to prevent damage from heat and fire in flame retardant polyamide goods will be the driving force behind the expansion of this market sector in the years to come.

On the basis of the application, The global flame retardant polyamide market may be broken down into multiple submarkets, the most prominent of which are the automotive and electrical appliance markets. In addition, the market for electrical appliances, which accounted for a sizable portion of the worldwide industry's share in 2022, is predicted to play a leading role in the expansion of individual market segments in the years to come. The segmental growth that is predicted to occur within the allotted amount of time may be contingent on the widespread application of flame-retardant polyamides in the form of plastic casings for electronic devices such as washing machines, televisions, and gaming systems. In addition to this, the items reduce the likelihood of fires breaking out or fire accidents taking place as a result of electric sparks, melting, or the overheating of electrical appliances.

The global Flame Retardant Polyamide market is segmented as follows:

By Type

• Halogen Type
•  Halogen-Free Type

By Application

• Electrical Appliances
•  Automotive
• Others

Browse the full “Flame Retardant Polyamide Market By Type (Halogen Type And Halogen-Free Type), By Application (Electrical Appliances, Automotive, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/flame-retardant-polyamide-market

Competitive Landscape

Some of the main competitors dominating the global Flame Retardant Polyamide market include - 

• DuPont
• DOMO Chemicals
• BASF SE
• Koninklijke DSM N.V.
• Ascend Performance Materials
• Evonik Industries
• Kingfa
• Celnase
• Julong
• Oceanchem Group Limited
• PRET Advanced Materials LLC

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global flame retardant polyamide market is projected to expand annually at the annual growth rate of around 6.64% over the forecast timespan (2023-2030)
• In terms of revenue, the global flame retardant polyamide market size was evaluated at nearly $842.16 million in 2022 and is expected to reach $1,402.3 million by 2030.
• The global flame retardant polyamide market is anticipated to record massive growth over the forecast period owing to the large-scale use of products in the automotive, electronics, and electrical sectors.
• In terms of type, the halogen type segment is slated to register the fastest CAGR over the forecast period.
• On the basis of application, the electrical appliances segment is slated to dominate the segmental surge over the forecast period.
• Region-wise, the North American flame retardant polyamide market is projected to register the fastest CAGR during the assessment period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Flame Retardant Polyamide industry?
• What are the main driving factors propelling the Flame Retardant Polyamide Market forward?
• What are the leading companies in the Flame Retardant Polyamide Industry?
• What segments does the Flame Retardant Polyamide Market cover?
• How can I receive a free copy of the Flame Retardant Polyamide Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

In the course of the anticipated period of time, Asia-Pacific will solidify its position as the dominant player in the worldwide market.

The Asia-Pacific region, which accounted for more than two-fifths of the total revenue generated by the global flame retardant polyamide market in 2022, is expected to record a substantial spike throughout the course of the evaluation period. There is a possibility that the growth of the market in this area over the period of 2023-2030 will be attributable to an increase in the demand for consumer electronic devices in countries such as India, Japan, South Korea, Taiwan, and China. In addition to this, the existence of large companies in the subcontinent as well as the expansion of the construction industry are also factors that will further contribute to the expansion of the market in this region.

In addition, it is anticipated that the flame retardant polyamide industry in North America will record the greatest CAGR during the period covered by the analysis. The severe application of legislation pertaining to fire safety in countries such as Canada and the United States is one of the variables that is expected to have a lucratively affect the expansion of the regional business. In addition to this, it is anticipated that the rise in demand for flame retardant polyamides as a result of the numerous advantages associated with these materials will drive the trends of the regional sector.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Flame Retardant Polyamide Market: Opportunities

Growing demand for product in consumer electronics to open new dimensions of growth for the global market

Humungous demand for laptops, smartphones, and tablets has translated into a massive need for power storage, thereby creating new growth opportunities for the global flame retardant polyamide market. A prominent expansion of the electronics sector owing to a surge in customer expenditure on consumer electronics goods will generate new avenues of growth for the market across the globe.

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