Global halogen-free flame retardant PP market to reach US$664 mln by 2020

22-May-15

Global low smoke halogen-free flame retardant polypropylene (PP) market is expected to reach US$664 mln by 2020. Growing concerns regarding halogen toxicity and fire safety issues coupled with environmental issues is expected to increase the demand for halogen-free flame retardant polypropylene (PP) globally, according to a Grand View Research (GVR) report. Increasing construction spending coupled with positive outlook on automotive industry particularly in China, India, etc is expected to drive the market, as per Grand View Research report. The global low smoke halogen free flame retardant PP market is expected to reach 279.4 kilo tons in 2020 from 166.4 kilo tons in 2013, growing at a CAGR of 7.8% from 2013 to 2020. Growing PP demand across key end-use industries such as construction, automotive and electrical & electronics is expected to remain a key driving factor for the global market. Favourable regulatory scenario in the US is expected to drive the demand in North America, which emerged as the leading consumer of halogen free flame retardant polypropylene accounting for over 35 percent of total market volume in 2013. Asia Pacific is expected to witness the highest growth of 8.2% over the next 6 years. Increasing construction spending coupled with positive outlook on automotive industry particularly in China, India and Indonesia is expected to drive the regional market. Favourable regulatory scenario in North America and Europe is expected to fuel the demand over the forecast period, added the GVR report. High loading levels and drawbacks in process ability of halogen free flame is expected to remain a key challenge for market participants. Construction emerged as the leading application segment and accounted for 37.7% of total market volume in 2013. Increasing infrastructure activities particularly in the emerging BRICS market coupled with growth need for flame retardants based polymers in construction industry is expected to drive this segment over the forecast period. Electrical & electronics market is expected to witness the fastest growth of 8.4 percent from 2014 to 2020. According to the Grand View Research report, growing electronics & electrical industry in China and Taiwan is expected to drive this segment over the forecast period.