Pune, India, April 12, 2022 (GLOBE NEWSWIRE) -- The global flame retardant polyamide market size is expected to reach USD 1,468.5 million in 2028, exhibiting a CAGR of 8.9% during the forecast period. The market was valued at USD 736.4 million in 2020 and reached USD 809.1 million in 2021. The rising adoption of polyamide in the automotive and electrical and electronics industries is expected to boost market development. Fortune Business Insights™ provides this information in its report titled “Flame Retardant Polyamide Market, 2021-2028.”
Flame retardant polyamide is a material with fire-resistant properties. It is used in foams, computers, mattresses, insulation materials, automotive parts, and others. Rising demand from the electrical and electronics industry is expected to boost sales. It is used in circuit processing, electronic castings, and printed circuit boards. Furthermore, the adoption of polyamide is increasing because of stringent fire regulations. In addition, increasing technological advancements are expected to boost its demand from the automotive industry. These factors are likely to boost market development in the upcoming years.
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List of Key Players Profiled in the Flame Retardant Polyamide Market Report :
- DuPont (U.S.)
- BASF (Germany)
- Ascend Performance Materials (U.S.)
- DOMO Chemicals (Germany)
- DSM (Netherlands
- Evonik Industries (Germany)
- Celanese (U.S.)
- Kingfa (China)
- Julong (China)
- PRET Advanced Materials, LLC (China)
- Keyuan (China)
- Asahi Kasei Europe GmbH (Germany)
- SUNNY (China)
- Oceanchem Group Limited (China)
COVID-19 Impact
Manufacturing Constraints to Impede Market Developments
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions placed on manufacturing and stringent lockdown regulations. The adoption of lockdown regulations leads to the lack of raw materials. Further, the restrictions on transport lead to the lack of raw material transport and supply chain disruptions. However, the adoption of reduced capacities, production machinery, sanitization methods, and social distancing has empowered manufacturers to recover losses and regain market position. This factor may propel market progress during the pandemic.
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https://www.fortunebusinessinsights.com/flame-retardant-polyamide-market-106590
Segments
By type, the market is segmented into halogen-free type and halogen type. Based on application, it is classified into automotive, electric appliances, and others. Geographically, it is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rising Demand for Polyamides from Electronics Industry to Bolster Market Progress
The polyamide’s thermal stability, hardness, and flame retardant properties are likely to boost its adoption from the electronics industry. It is used in batteries and connectors to avoid short circuits and other risks. Rising demand for laptops, smartphones, and tablets may bolster the product’s demand. Rapid digitization and the demand for internet-enabled devices are expected to boost polyamide’s demand. Furthermore, the risk of overheating because of the rising adoption of advanced components in devices is likely to boost the demand for the product. In addition, rising consumer expenditure on electronics is expected to boost its incorporation. These factors are likely to drive the flame retardant polyamide market growth during the forecast period.
However, the incorporation of stringent regulations for halogenated products usage is expected to hinder the market’s progress.
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Regional Insights
Presence of Major Players to Foster Market Growth in Asia Pacific
Asia Pacific is expected to dominate the flame-retardant polyamide market share because of the presence of several major players in the region. The market in Asia Pacific stood at USD 362.7 million in 2020 and is expected to gain a major position over the upcoming years. Furthermore, the rising consumption of electronics and smart devices and a huge consumer electronics and electrical and electronic products hub is expected to boost the market’s growth.
In North America, stringent fire and safety regulations are likely to boost the flame retardant polyamide’s demand. Furthermore, manufacturers incorporate polyamide in several finished goods to improve durability and resistance against high temperatures.
In Europe, the rising adoption of flame retardant polyamides in automotive applications is expected to fuel its sales. In addition, stringent regulations regarding the adoption of polyamides in automobiles are likely to drive the product’s demand. These factors are expected to boost market growth.
Competitive Landscape
Manufacturers Acquire Crucial Companies to Gain Considerable Market Position
The prominent companies operating in the market incorporate acquisition strategies to improve their market position. For example, DuPont acquired Laird Performance Materials in July 2021. This acquisition shall enable DuPont to integrate Laird Performance Materials in its Electronics & Industrial's Interconnect Solutions (ICS) business, thereby boosting its market position. In addition, companies adopt product launches, mergers, expansion, and other strategies to boost their annual revenues.
Key Industry Development:
- February 2020: Lavergne and Clariant produced halogen-free flame-retardant compounds for electronic products. The compound is made by using recycled plastic and Clariant’s Exolit OP halogen-free flame-retardant polyamide. This development shall allow the company to create new uses for plastics.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Key Insights
- Key Market Trends in the Global Market
- Porters Five Forces Analysis
- Flame Retardant Polyamide Supply Chain and Sales Channel Challenges
- Supply Chain Analysis
- Key Raw Materials and Upstream Suppliers
- Client Analysis
- Sales Channel & Sales Model Analysis
- Distribution Channel Analysis: Indirect Sales VS Direct Sales
- Distribution Channel Analysis: Online Sales VS Offline Sales
- Flame Retardant Polyamide Distributors
- Global Flame Retardant Polyamide Market Analysis, Insights and Forecast, 2016-2028
- By Type (Value and Volume)
- Halogen Type
- Halogen-free Type
- By Application (Value and Volume)
- Electric Appliances
- Automotive
- Others
- By Region (Value and Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type (Value and Volume)
TOC Continued…!
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