Global Flame Retardant PBT Market Size By Type (Halogen Flame Retardant, Halogen-free Flame Retardant), By Application (Automobile Industry, Electrical & Electronics, Mechanical Equipment), By Geographic Scope And Forecast
Report ID: 364166|No. of Pages: 202
Global Flame Retardant PBT Market Size By Type (Halogen Flame Retardant, Halogen-free Flame Retardant), By Application (Automobile Industry, Electrical & Electronics, Mechanical Equipment), By Geographic Scope And Forecast
Flame Retardant PBT Market Size And Forecast
Flame Retardant PBT Market size was valued at USD 475.59 Million in 2023 and is projected to reach USD 689.67 Million by 2030, at a CAGR of 5.53% from 2024 to 2030.
Flame retardants are used to reduce this risk in a broad range of products such as laptops, smartphones, TV sets, refrigerators, vacuum cleaners, and printed wiring boards. In the future, the sector of electrics and electronics will be the largest growth market. The Global Flame Retardant PBT Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
>>> Get | Download Sample Report @ – https://www.verifiedmarketresearch.com/download-sample/?rid=364166
Global Flame Retardant PBT Market Definition
Polybutylene Terephthalate (PBT), a form of thermoplastic polymer developed for its flame-resistant qualities, is known as Flame Retardant PBT. It is a semi-crystalline engineering plastic with outstanding mechanical, dimensional, chemical, and electrical insulating properties. Flame Retardant PBT is created by incorporating flame retardant chemicals into PBT resin to prevent or delay the spread of flames when exposed to fire or extreme heat. The primary features of Flame Retardant PBT include its ability to resist ignition and halt the spread of flames. It doesn’t easily catch fire, and when it does, it typically extinguishes on its own after the flame source is removed.
Additionally, it maintains its structural integrity and mechanical properties under high temperatures, making it suitable for applications in extreme temperature conditions. Its excellent electrical insulating properties make it ideal for use in electrical and electronic applications. Flame Retardant PBT retains its shape and dimensions when exposed to temperature changes, which is vital for applications where precision is crucial. Its resistance to various chemicals and solvents enhances its suitability for use in a wide range of industrial conditions. It finds applications in various industries, including automotive, electrical and electronics, construction, consumer goods, aerospace, and more, where fire safety and flame resistance are essential requirements.
They are now more widely available to manufacturers worldwide owing to the globalization of supply chains and manufacturing, which has led to a growth in their application in various countries and sectors. Common applications include housing enclosures, connectors, switches, circuit breakers, and other components where fire safety is a concern. It is also utilized in situations where protection against high temperatures and flame propagation is necessary. Therefore, the rapid growth of Flame Retardant PBT can be attributed to a combination of stringent safety regulations, industry-specific requirements, environmental considerations, advancing technology, and the demand for fire-resistant materials in various applications. It’s expected that continuous developments in safety and technology will have an impact on its further growth and adoption.
What's inside a VMR
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=364166
Global Flame Retardant PBT Market Overview
The growing number of residential and commercial establishments has increased the chances of explosions and fire-related accidents. Governments of various countries around the world are focused on preventing fire and explosion-related accidents in offices, industries, and public places. This has led to the implementation of stringent rules and regulations for the industries, to encourage the use of these retardants. They are used in cables, wires, construction products, insulation materials, textiles, automotive components & interiors, and paints and coatings to slow down the spread of fires. The guidelines and regulations across different countries have made it mandatory for manufacturers to use flame retardants in their products. This will stimulate the growth of the market in the coming years.
Also, the growing number of fire accidents is anticipated to lead to the growth of the Flame Retardant PBT Market. In 2020, according to the National Fire Protection Associations (NFPA), the U.S. Fire Administration and local fire departments would have responded to fires. These fires were responsible for 3,500 human deaths, 15,200 civilian injuries, and USD 21 billion in property loss. Every 23 seconds; a fire department somewhere in the United States responds to a fire. Every 64 seconds, a fire happens in a structure; and every 89 seconds; a fire happens in a residence. 64% of all fire-related fatalities were the result of residential fires. This includes 64% of the fires caused by single- or double-family homes and 10% of fires caused by apartments or other multi-family dwellings. 18% of fire-related fatalities were caused by car fires.
An increase in the manufacture of wires & cables and the demand for high-quality consumer electronics are expected to drive the market. Electrical & electronic products generate neat during operations. They often have plastic components, which leads to the possibility of said components heating up enough to pose a fire hazard; hence, flame retardants are used in resins for such products. Electrical and electronics products are subject to a high degree of fire risk owing to the involvement of electric currents in their functioning. Flame retardants are used to reduce this risk in a broad range of products such as laptops, smartphones, TV sets, refrigerators, vacuum cleaners, and printed wiring boards. In the future, the sector of electrics and electronics will be the largest growth market.
Manufacturers in the sub-segment smartphones and tablet computers, in particular, will not only raise demand for flame retardant materials, but also put a rising value on the environmental impact of the flame retardants consumed. In addition, increasing competition is driving down the price of producing electronics, lowering the cost of goods for customers. Chemicals that act as flame retardants are essential in the electrical and electronic industries. One of the leading causes of residential and commercial fires worldwide is electrical fires. Modern electronic devices like televisions and laptops can utilize flame retardants to comply with fire safety regulations. A halogenated flame retardant called tetrabromobisphenol-A (TBBPA) is used to enclose electrical and electronic components.
Manufacturing of flame retardants includes several chemicals that can cause several health-related disorders, including conjunctival irritation, shortness of breath, fatigue, dizziness, and skin problems. Flame retardant is used in several materials ranging from furnishing to automobile products. These chemical compounds can get into water, or soil or leak from products into air and come into human contact. In addition, several studies show that the use of flame retardants in furniture & textiles sequester into homes, accumulating in the human body and causing several side effects, including endocrine & thyroid disorders, reproductive toxicity, and cancer. Flame retardants also bioaccumulate in human bodies, which can cause long-term chronic health problems.
The transportation sector has shown significant growth over the years due to the increase in production seen in major transports such as automotive and aerospace. According to the data provided by the European Automobile Manufacturer’s Association, in 2021, global automotive production stood at 79.1 million units, showing a 1.3% increase in comparison to 2020. Also, according to the data provided by the General Aviation Manufacturers Association, in the first half of 2022, total aircraft manufacturing & shipment stood at 1,174 units, showing a 9.9% increase in the first half of 2021. With such an increase in automotive and aircraft production, the demand for flame retardant chemicals has also increased in the transportation sector, thereby positively impacting the growth of the Flame Retardant PBT industry during the forecast period
Global Flame Retardant PBT Market: Segmentation Analysis
The Global Flame Retardant PBT Market is segmented on the basis of Type, Application, and Geography.
Flame Retardant PBT Market, By Type
- Halogen Flame Retardant
- Halogen-free Flame Retardant
To Get a Summarized Market Report By Type:- Download the Sample Report Now
Based on Type, The market is segmented into Halogen Flame Retardant and Halogen-free Flame Retardant. Halogen-free Flame Retardant accounted for the largest market share in 2022 and is projected to grow at a CAGR of 6.18% during the forecast period. Halogen-free flame retardant Polybutylene Terephthalate (PBT) refers to PBT-based materials modified with flame retardant additives that do not contain halogen elements like chlorine or bromine. These flame retardants reduce the flammability of PBT while avoiding the environmental and health concerns associated with halogenated flame retardants. Applications of halogen-free flame retardants have been typical in various industries, including Electrical and Electronics Components, Automotive Parts, building and construction materials, Consumer Electronics, Aerospace Components, and transportation.
Halogen-free flame retardant PBT is widely used in the electrical and electronics industry for electrical connectors, sockets, circuit breakers, and cable insulation applications. These components require high fire resistance to ensure safety in electrical systems. Additionally, the automotive industry utilizes halogen-free flame retardant PBT for various components in vehicle interiors, including dashboard components, switches, connectors, and housings for electrical systems. Fire safety is essential in automotive design. Furthermore, halogen-free flame retardant PBT in the construction industry can be found in cable management systems, electrical boxes, and fixtures. These materials help reduce fire risks in buildings. Hence many key players in the market are launching new products in the market. For instance, in June 2022, LANXESS launched a new PBT (polybutylene terephthalate) compound that is halogen-free flame-retardant and hydrolysis-stabilized.
Flame Retardant PBT Market, By Application
- Automobile Industry
- Electrical & Electronics
- Mechanical Equipment
- Others
Based on Application, The market is segmented into Automobile Industry, Electrical & Electronics, Mechanical Equipment, and Others. Electrical & Electronics accounted for the largest market share in 2022 and is projected to grow at a CAGR of 5.85% during the forecast period. Electrical and electronics manufacturing is one of the industries with the quickest growth rates. It keeps transforming people’s lives, businesses, and economies through cutting-edge, all-encompassing goods. The future will look very different from the present because of the kinds of technological advances that have occurred all around the world and paradigm shifts in how people go about their daily lives.
It significantly aids in the expansion of the economy in the process. Manufacturing connectors, sockets, and housing for electrical and electronic components frequently make use of flame-resistant PBT. It is perfect for these applications due to its heat resistance and electrical insulating qualities. Flame Retardant PBT is frequently used for the housings and insulating components of electrical components such as circuit breakers, switches, and switchgear to assure safety and dependability
Flame Retardant PBT Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
To Get a Summarized Market Report By Geography:- Download the Sample Report Now
Based on Geography, The Global Flame Retardant PBT Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia-Pacific accounted for the largest market share in 2022 and is projected to grow at a CAGR of 6.22% during the forecast period. The Asian-Pacific region’s automobile industry is influenced by several driving factors contributing to its growth and development. Rapid urbanization in countries like China and India is driving the need for personal transportation. The rising population creates increased demand for personal vehicles.
Also, the automobile industry prioritizes fire safety, especially in critical components like connectors, electrical systems, and battery enclosures. Flame retardant PBT is essential in preventing and mitigating the spread of fires in vehicles. The growing popularity of electric vehicles (EVs) has increased the demand for flame-retardant materials, including PBT, in battery components and electrical systems. EVs require enhanced fire safety due to the presence of high-voltage battery packs. According to the EnergyTrend data, China, the fastest in developing electric vehicles, saw the problem first. In 2021, the Chinese government reported at least 3,000 new energy vehicle fires; their fire risk is generally higher than that of traditional gasoline vehicles. Chinese automotive safety regulations are becoming increasingly stringent, focusing on fire safety and hazard prevention. Flame retardant PBT is crucial for meeting these safety standards and reducing the risk of fires in vehicles.
Key Players
The “Global Flame Retardant PBT Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market include Mitsubishi, BASF, Sabic, LG Chem, Toray, DuPont, Ticona, DSM, Lanxess, Changchun, Kolon Plastics, Polyplastic, Jiangsu Sanfangxiang Group, Shinkong, China National Bluestar (Group) Co, Ltd.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2020-2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2030 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Mitsubishi, BASF, Sabic, LG Chem, Toray, DuPont, Ticona, DSM, Lanxess, Changchun, Kolon Plastics, Polyplastic. |
| Segments Covered |
|
| Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
To Get Customized Report Scope:- Request For Customization Now
Top Trending Reports:
Global Educational Games Market Size And Forecast
Global Ethylbenzene (EB) (CAS 100-41-4) Market Size And Forecast
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
