Flame Retardant Polyamide Market Forecasts to 2028 – Global Analysis By Type (Halogen Type, Halogen-free Type), Application (Automotive, Electric Appliances), and By Geography

Flame Retardant Polyamide Market Forecasts to 2028 – Global Analysis By Type (Halogen Type, Halogen-free Type), Application (Automotive, Electric Appliances), and By Geography

According to Stratistics MRC, the Global Flame Retardant Polyamide Market is accounted for $804.15 million in 2021 and is expected to reach $1,489.00 million by 2028 growing at a CAGR of 9.2% during the forecast period. Flame retardant polyamide material is a type of material with some of the finest fire-resistant properties and is typically used in foams, computers, several insulation materials, automotive parts, and several others. It is also used in circuit processing, printed circuit boards, and also electronic castings.

Market Dynamics:

Driver:

Incorporation of the product in electronics

The demand for flame retardant polyamide grew with the increase in energy density, the risk of fire from overheating or short circuits rises, necessitating improved battery enclosure fire safety and protection. Characteristics of the polymer such as flame retardant characteristics, hardness, and thermal stability drive the incorporation of the product in electric appliances. The rapidly growing demand for smartphones, tablets, and laptops has created an ever-increasing need for high-density energy storage and rapid energy restoration.

Restraint:

Presence of stringent regulations

Several electronic, consumer, and commercial products are treated with halogenated flame retardants to prevent them from burning when exposed to a spark. Thus, halogenated compounds play an important role in the market. However, the halogenated type of flame retardant exerts detrimental effects on human and environmental health. As per National Center for Biotechnology Information, exposure to halogens leads to severe human health issues such as reproductive toxicity, thyroid disruption, neurologic dysfunction, and cancers. Such factors have forced several governments to pass stringent regulations for the use of halogen-based products. These factors could affect product consumption slightly during the forecast period.

Opportunity:

Rising utilization in automotives

Parts and components of an automotive such as HV connector, AC contactor, and automotive panel contain some quantity of the product. Therefore, the rising use of flame retardant polyamide in the automotive industry is expected to offer impetus to the market. Strict fire and safety rules employed by the government and the associations are increasing the product consumption by the automotive manufacturers. In addition, advantages including ignition prevention due to overheating and improved toughness & mechanical strength will boost the adoption of flame retardant polymers.

Threat:

Disorganization in the supply chain

The sales of several companies have been thoroughly distressed by COVID-19, as the polyamide manufacturers faced a shortage of supply owing to trade restrictions in industrial countries, including India and China. Several countries, including the U.S., India, and China imposed restrictions on the movement of both material and men, leading to disorganization in the supply chain of the product manufacturers. In response to this shortage of raw materials, the manufacturers limited flame-retardant polyamide production. The market players dealt with a decline in demand as the electronic industry faced a shortage of raw material, labor and sink in consumption of consumer electronics.

The electric appliances segment is expected to be the largest during the forecast period

The electric appliances segment is estimated to have a lucrative growth owing to the increasing use of the product as plastic casings of electronic equipment such as televisions, gaming systems, and washing machines. Rising consumerism has resulted in high product consumption, thereby leading to segment growth. These factors, along with the rising awareness regarding safety, are collectively driving the electric appliances industry, thus boosting the demand for flame retardant polyamides at the global as well as regional levels.

The halogen type segment is expected to have the highest CAGR during the forecast period

The halogen type segment is anticipated to witness the fastest CAGR growth during the forecast period. Due to the widespread use in the electrical & electronics industry, the Halogenated-flame retardant polyamide is used to manufacture electronic castings, printed circuit boards, and circuit processing. This type includes bromine and chlorine-based flame retardants that resist heat and fire damage for polyamide products.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. Implementation of stringent rules and regulations about fire safety is driving the product demand in North America. This factor has provoked the manufacturers to incorporate flame retardant additives in polymers to enhance the properties and durability of finished goods to use in high-temperature conditions.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The reasons are the ever-rising consumption and need for consumer electronics among people across all age groups. The APAC region is the largest hub of electrical & electronics products, and most consumer electronics are manufactured and consumed in the region. Moreover, the presence of major manufacturers and the rising construction activities resulting from population growth are driving the market in this region.

Key players in the market

Some of the key players profiled in the Flame Retardant Polyamide Market include Asahi Kasei Europe GmbH, Ascend Performance Materials, BASF, Celanese, DOMO Chemicals, DSM, DuPont, Evonik Industries, Julong, Keyuan, Kingfa, Oceanchem Group Limited, PRET Advanced Materials, LLC, and SUNNY.

Key Developments:

In July 2021, DuPont acquired Laird Performance Materials, a world leader in high performance electromagnetic shielding and thermal management solutions. 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 June 2021, Celanese entered into a definitive agreement to acquire the Santoprene TPV elastomers business of Exxon Mobil Corporation. The Santoprene business of ExxonMobil is a leading global producer of TPV serving a variety of end-uses, including automotive, construction, appliance, medical, and industrial.

Types Covered:
• Halogen Type
• Halogen-free Type

Applications Covered:
• Automotive
• Electric Appliances

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances