According to ChemAnalyst report, “Flame Retardant Resin E&E composite Market Analysis: Plant Capacity, Production, Operating Efficiency, Types, Demand & Supply, Sales Channel, Regional Demand, 2015-2035”. Flame retardant resin market witnessed a demand of around 1.76 million tons globally from Electronic and Electronics (E&E) industry in 2021 and is anticipated to grow at a significant rate with a healthy CAGR of 6.1 % until 2035 owing to its surging demand for the manufacturing of electronics and electrical devices.
Flame Retardant Resins are the material which are used to prevent the spread or growth of fire. These substances are activated by the presence of an ignition sources and are used to control the spread of ignition and fire.
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Based on the types of Flame retardant resin the market is segmented into Epoxy, Phenolic and Unsaturated polyester resin and others. Epoxy Resin is the dominant resin owing to its significant role in electronic and electrical industry as a flame retardant. Epoxy resin is used in manufacturing Printed circuit boards (PCBs) which are the foundational building block of most of the modern electronic devices such as computers, servers, and communication devices. PCBs is a base on which all the other electronic components are assembled. Phenolic Resin also known as Phenolic formaldehyde resin is a synthetic resin manufactured from the polymerization of phenol and formaldehyde. Phenolic Resins are well known for its excellent flame retardance, good heat resistance and low smoke evolution on burning. Unsaturated Polyester Resin (UPR), is synthesized via condensation of glycols with unsaturated dibasic acid or their anhydrides
Flame retardant resin is used in Electronic & Electrical industry. In electrical industry, Flame Retardant Resins are used in application such as PCB Laminates, Enclosures, Electrical components, and others. The rising demand in consumer electronics and communication application such as use of 5G technology globally is anticipated to push the demand of flame retardant resin in the coming years.
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The sudden outbreak of the COVID 19 virus in the first half of 2020 imposed a national blockade by major economies around the world. This led to trade restrictions which further result in disruption of operation across multiple manufacturing facilities and in value-demand chain. The flame-retardant resin market faced a decline in 2020, but the industry witnessed a significant growth in 2021.
Region wise, APAC holds the largest share in the Flame Retardant Resin market followed by Europe and North America. Flame Retardant Resin market in Asia pacific region is expected to increase in the forecast period due to increase in production of PCBs in the region. The adaption of 5G technology, increasing demand from consumer electronics items will be major market driver for PCBs which will led to increase in consumption of Flame Retardant Resin.
According to ChemAnalyst report, “Flame Retardant Resin in E&E Composite Market Analysis: Plant Capacity, Production, Operating Efficiency, Types, Application, Demand & Supply, Sales Channel, Regional Demand, 2015-2030”, Major players for Flame Retardant Resin globally are Shengquan Group, Jiangsu Sanmu Group, Nan Ya Plastics Co Ltd, Huntsman Corporation, Hexion Inc., The Dow Chemical Company, Nantong Tianhe Resin Co., Ltd, Newsolar Technology Group, Polynt-Reichhold group and others.
“Flame Retardant Resin are the chemicals which are used in Electronic items which prevents the start or stop the spread of fire. Due to strict legislative framework and industrial requirement led to development of flame retardant. Flame retardant resin market is unique and required in specific business of electronic industry which is predicted to grow due to surging demand of consumer electronics and communication industry. The flame retardant resin market witnessed slow growth in 2020 owing to covid pandemic, however the market is projected to grow at formidable rate as majority of manufacturing unit are now working with full capacity to fulfil the demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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