Global low smoke halogen free flame retardant polypropylene market to reach US$664 mln by 2020

29-Oct-15

The global low smoke halogen free flame retardant polypropylene (PP) market is expected to reach US$664 mln by 2020, as Persistence Market Research. 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. Growing concerns regarding halogen toxicity and fire safety issues coupled with environmental issues is also expected to have a positive impact on the market growth. Favorable regulatory scenario in North America and Europe is also expected to fuel the demand over the forecast period. 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% from 2014 to 2020. Growing electronics & electrical industry in China and Taiwan is expected to drive this segment over the forecast period. Global low smoke halogen free flame retardant PP market was 166.4 kilo tons in 2013 and is expected to reach 279.4 kilo tons in 2020, growing at a CAGR of 7.8% from 2013 to 2020. North America emerged as the leading consumer and accounted for over 35% of total market volume in 2013. Favorable regulatory scenario in the U.S. is expected to drive the regional market over the forecast period. Asia Pacific is expected to witness the highest growth of 8.2% over the next six years. Increasing construction spending coupled with positive outlook on automotive industry particularly in China, India and Indonesia is expected to drive the regional market. Some major companies operating in the global market include Albemarle Corporation, Israel Chemicals Ltd., Chemtura Corporation, Clariant International Ltd., Huber Engineered Materials, BASF SE, Thor Group Ltd., Lanxess A.G., DSM N.V., FRX Polymers Inc., Nabaltec A.G., DuPont, Washington Penn Plastic. Co. RTP Company, PolyOne Corporation and Delamin Ltd.