Flame-Retardant Resin Market in the Composites Industry to Reach US$ 7.0 Billion in 2026, Says Stratview Research

RAIPUR, India, Nov. 11, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Flame-Retardant Resin Market in the Composites Industry by End-Use Industry Type (Marine, Transportation, Electrical & Electronics, Building & Construction, Aerospace & Defense, Pipe & Tank, and Others), by Resin Type (Epoxy, Phenolic, Polyester, and Others), by Fiber Type (Glass Fiber and Other Fibers), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects the industry realities and future market possibilities of today's FR resin market in composites, for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.

Flame-Retardant (FR) Resin Market in the Composites Industry: Highlights

Flame retardants are substances that are activated by the presence of an ignition source and are designed to control the spread of ignition through a variety of physical and chemical methods. They can be either introduced as a co-polymer during the polymerization process, afterward added to the polymer during the molding or extrusion process or applied as a topical finish. Flame retardancy in resins is of paramount significance, especially where fire, smoke, and toxicity (FST) and high-temperature properties are the primary requirements. It is estimated that FR resin is likely to remain one of the most important resin types in the overall composite resins market in the forthcoming years.

The FR resin market is a unique business with usage in specific applications. The COVID pandemic had different impacts on the demand for FR resins in different applications/industries. For instance, aerospace & defense, transportation, and marine were some of the major markets that recorded hefty declines in 2020. However, the E&E industry, the biggest demand generator for FR resins, registered growth in that trying time, offsetting the declines of other market segments. The FR resin market in the composites industry witnessed a contracted growth of 2% from 2019 to 2020). In the long run, the market is likely to generate a myriad of opportunities for its stakeholders by reaching an unprecedented figure of US$ 7.0 billion in 2026. The primary growth drivers are the stringent fire and safety standards along with the increased need for FR4 laminates in the electronics industry.

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Based on end-use industry type, the FR resin market in the composites industry is segmented as marine, transportation, electrical & electronics (E&E), building & construction, aerospace & defense, pipe & tank, and others. Over the next five years, E&E is likely to remain the largest market segment, witnessing growth at a significant pace. In the E&E business, the FR resins are largely used in the manufacturing of printed circuit boards (PCB). The PCBs are made with a variety of laminates, including paper, FR-4, CEM, and polyamide. The most prevalent varieties are FR-4 and CEM, both of which predominantly use FR epoxy resins.

Based on the resin type, epoxy is expected to maintain its market dominance during the forecast period. The FR epoxy resins have several superior properties, including strength, adhesiveness, adaptability, moisture absorbency, and minimal volumetric shrinkage, because of which, this resin is gaining popularity in the composites market. The most common application for FR epoxy resins is printed circuit boards (PCBs).

In terms of fiber type, glass fiber is expected to remain dominant over the next five years. The fiber type is extremely preferred across all the end-use industries. The 'other fibers' segment is expected to grow at a higher pace, during the forecast period, driven by the increasing penetration of carbon composites due to a higher requirement of lightweight components.

In terms of regions, Asia-Pacific is expected to generate the largest demand for FR resins during the forecast period. This is because of several factors including the gradual shift of the E&E industry from the developed global economies to the developing countries in Asia, rising demand for high-speed trains and metro rails, indigenous development of commercial and regional aircraft, and increased construction activities. In the forthcoming years, the region is also likely to remain the most appealing market across the globe.

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Following are the key players in the FR resin market in the composites industry:

• Hexion Inc.
• Huntsman International LLC
• Olin Corporation
• Nan Ya Plastics Corporation
• INEOS Group Ltd.
• AOC Resins
• Georgia-Pacific LLC
• Interplastic Corporation
• Polynt Reichhold Group
• Sumitomo Bakelite Co., Ltd.

In recent years, there were several key strategic alliances and M&As in the market with the purpose to strengthen product portfolio, widen geographical reach, increase the customer base, enhance product development and technical capabilities, etc. For example, in 2019, INEOS acquired the composites business of Ashland Global Holdings Inc. This transaction, when combined with Ashland's cost reduction program, helped Ashland to be in a better position to deliver sustained growth earnings and significant value for shareholders. In addition, in 2020, Huntsman Advanced Materials completed the acquisition of CVC Thermoset Specialties (CTS), a North American specialty chemical manufacturer, serving industrial composites, adhesives, and coating markets.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the flame-retardant resin market in the global composites industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Flame-Retardant Resin Market in The Composites Industry, by End-Use Industry Type

• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pipe & Tank (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Flame-Retardant Resin Market in The Composites Industry, by Resin Type

• Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Phenolic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Flame-Retardant Resin Market in The Composites Industry, by Fiber Type

• Glass Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Fibers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Flame-Retardant Resin Market in The Composites Industry, by Region

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Click Here for Other Reports from Stratview Research in the Composites Industry: https://www.stratviewresearch.com/market-reports/composites.html  

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

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Stratview Research has launched 'Composights', an online portal which offers free thought leadership reports, whitepapers, market report synopsis and much more for Composites and allied industries, worth US$ 20,000 every year. 

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