Low Smoke Halogen Free Flame-Retardant Polypropylene Market Overview
The low smoke halogen-free flame retardant polypropylene market is valued at 500 USD million in 2020 and is expected to reach 750 USD million by 2026, registering a CAGR of over 7.50% during the period. The growing health and safety concerns regarding fire are likely to provide opportunities for the market during the forecast period. Construction and building are the key end-user industries of the low smoke halogen-free flame-retardant polypropylene. Low-smoke halogen-free flame retardant polypropylene (PP) polymer offers high resistance to fire and possesses environment-friendly properties, hence, the demand is significantly high in the construction industry. The report also covers the market size and forecasts for the low smoke halogen-free flame-retardant polypropylene market in 15 countries across major regions.
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Low Smoke Halogen Free Flame-Retardant Polypropylene Market – Geographical Overview
The Asia-Pacific region to dominate the low smoke halogen-free flame-retardant polypropylene market
Asia-Pacific has seen substantial growth in the demand for low smoke halogen-free flame-retardant polypropylene in the recent past, especially from countries such as China, South Korea, and India. In general, fire has been a major threat to electronic products and cables, as they are continuously exposed to heat and temperature for a long time. To overcome these issues, various fire safety regulations are introduced across the globe, and hence, the demand for low smoke halogen-free flame-retardant polypropylene in various consumer and electronic products is widely increasing. The Indian electronics market is expected to reach USD 400 billion by 2025. India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025. India is expected to have a digital economy of USD 1 trillion by 2025 and India’s Electronics System Design and Manufacturing (ESDM) sector is expected to generate over USD100 billion in economic value by 2025.
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Key Highlights of the Low Smoke Halogen Free Flame-Retardant Polypropylene Market
- The global low smoke halogen-free flame-retardant polypropylene market is consolidated in nature. Some of the major companies are Borealis AG, Avient Corporation, POLYROCKS CHEMICAL CO., LTD., LATI Industria Termoplastici S.p.A., MERICK POLYMERS CO., LTD., amongst others.
- The market demand for electric cars and policies under Clean Energy Ministerial (CEM) in countries like China and India, such as the initiative on electric vehicles and increasing enthusiasm for electric vehicles, are expected to push low smoke halogen-free flame retardant polypropylene consumption in near future.
- The European region is the first to adopt the low smoke halogen-free flame retardant materials owing to product safety standards. IEC 60332-1 standard which applies to the majority of the medium and large-scale installation in the region requires LSFRZH (Low Smoke, Fire Retardant, Zero Halogen) jackets on cables installed near places where a large number of people congregate. This had been driving the demand for the market studied especially in Europe’s commercial application.
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List of Key Players in the Low Smoke Halogen Free Flame-Retardant Polypropylene Market
- RTP Company
- MERICK POLYMERS CO. LTD
- POLYROCKS CHEMICAL CO. LTD
- Dongguan Hengjia Plastic Technology Co. Ltd
- LATI Industria Termoplastici SpA
- Kowa Kasei Co. Ltd
- Borealis AG
- Axipolymer Incorporation
- Avient Corporation
*List Not Exhaustive
Mordor Intelligence has segmented the global low smoke halogen-free flame-retardant polypropylene market on the basis of end-user industry and geography:
- End-user Industry (Market Size & Forecast based on Revenues (USD million), 2016-2026)
- Building and Construction
- Electrical and Electronics
- Other End-user Industries
- Geography (Market Size & Forecast based on Revenues (USD million), 2016-2026)
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- United Kingdom
- Rest of Europe
- South America
- Rest of South America
- Middle-East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle-East and Africa
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