The changing dynamics in Flame-Retardant Resin Market in the Composites Industry with covid-19 impact assessment

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Flame-Retardant Resin Market in the Composites Industry.

It was estimated prior to this unanticipated outbreak that the Flame-Retardant Resin Market in the Composites Industry will reach US$ 5735.8 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

For a more detailed breakdown of the COVID-19 impact on the Flame-Retardant Resin Market in the Composites Industry, request a free sample of the report here:

In end-use industries such as aerospace & defense, transportation, electronics, marine, and oil & gas, composite parts offer a wide array of advantages over metal parts, such as weight reduction, excellent strength-to-weight ratio, ability to withstand a wide range of operating temperatures, high corrosion resistance, high fatigue resistance, and ability to form complex shapes. Composite materials used in interior applications and high-temperature-resistant applications must meet FST (fire, smoke, toxicity) properties imposed by several regulatory authorities.

Several factors are driving the demand for FR resins in major end-use industries, among which, one of the most important factors is an organic growth of the major end-use industries. Major market segments: E&E, transportation, and building & construction, were witnessing tangible growth rates over the past five years but considering the current situation, they cannot be expected to maintain these growth momentums in the coming five years as well.

Another factor that supports the growth of FR resins is the introduction of stringent regulations regarding FST (fire, smoke, and toxicity) performance. Composite part fabricators have no choice except using FR resins in interiors and high-temperature-resistant applications in order to meet the FST standards of various end-use industries. 

The market is segmented based on the resin type as phenolic resin, polyester resin, epoxy resin, and other resins. Epoxy resin is expected to remain the largest segment of the market over the next five years, propelled by the electrical and electronics industry. The printed circuit board (PCB) is the most dominant application where FR epoxy resins are used. Other major application of FR epoxy resins are GRE pipes for the oil & gas industry and interior applications of aircraft. This resin is gaining traction in the composites market because of its excellent performance, such as strength, adhesiveness, versatility, moisture absorbent, and less volumetric shrinkage.

Click here for description of the report:

The flame retardant resins market is also segmented based on the end-use industry type as aerospace & defense, transportation, building & construction, electrical & electronics (E&E), marine, pipe & tank, and others. E&E is expected to remain the largest segment of the market over the next five years. PCB is the major application of FR resins in the E&E industry. PCBs are manufactured using different types of laminates, such as paper, FR-4, CEM, and polyamide. Among these types, FR-4 and CEM are the most commons, which primarily use FR epoxy resins.

In the transportation industry, rail, bus, and recreational vehicles are the major users of FR composite parts. In rails, FR resins are used for making interior parts, such as lavatory, seats, partitions, sidewalls, ceiling panels, doors, and windows, for high-speed trains, metro, locomotives, and monorails. In recreational vehicles, FR resins are used to make roof, sidewalls, and slide out panels.

In terms of region, Asia-Pacific is likely to remain the largest market during the forecast period in terms of both value and volume. The demand for FR resins in the region is driven by a host of factors including a gradual shift of the E&E industry from the developed economies to the developing Asian economies. The region is likely to remain the most attractive market in the foreseeable future.

North America is likely to remain the second-largest market over the next five years in terms of both value and volume. The region is the largest FR resin market for various end-use industries including marine, A&D, pipe & tank, and building & construction. It is estimated that the region is expected to maintain its undisputed leadership in these end-use industries in the foreseeable future as well.

Europe is likely to maintain its third position in the market during the forecast period in terms of both value and volume. Building & construction and ground transportation are the growth engines of the region’s market. Recovery of the European construction market is fuelling the region’s growth.

Key Players:

The market has a robust supply chain with the presence of several large-to-small-sized players.  Hexion Inc., Olin Corporation, Nan Ya Plastics, Ashland Global Specialty Chemicals Inc., Huntsman Corporation, Polynt Reichhold, Group, Sumitomo Bakelite Co., Ltd., Georgia-Pacific Industries ltd., and AOC, LLC are some of the major players in FR resins market for the composites industry. Development of innovative resin systems and formation of strategic alliances and mergers and acquisitions are some of the key strategies adopted by major companies in order to gain competitive advantage over others. 

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Flame-Retardant Resin Market in the Composites Industry analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • 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

Know more about us and our reports:

Stratview Research has been offering its insightful reports and custom researches to the interested clients in some of important industry sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The data is collected for the reports is collected from reliable sources and is analysed carefully to come up with an end result that is resourceful and worthy for the interesting clients.