Low smoke halogen free flame retardant PP market worth US$893.9 mln by 2024

16-Sep-16

The global low smoke halogen free flame retardant polypropylene (PP) market is expected to reach US$893.9 mln by 2024, according to a new report by Grand View Research, Inc. The increasing construction spending particularly in emerging economies is one of the major reason fuelling the market growth. Favorable government regulations are further anticipated to benefit the overall market. The government bodies across the globe have been formulating new regulations and safety norms to reduce the occurrence of fire mishaps. Halogen-free flame retardant polypropylene is believed to be an effective way to overcome these fires maintaining the VOC levels. These regulations are mainly to ensure the quality of the product that can control the spread of fire or at least provide an extended escape time.
Flame retardant PP provides an additional layer of protection against fire. However, high investment cost and development of other alternative products are anticipated to be the major factors which can affect the market growth. Further, environmental hazards related to halogenated flame retardants have forced governments across the globe to implement strict laws and regulations to discourage their usage. Companies around the world are focusing on new and better technologies with the help of which they can develop new halogenated flame retardant polypropylene based products for end-use industries such as construction, automotive, and electronics, furniture, packaging, and labeling.