The global flame retardant resins market size was valued at USD 51.93 billion in 2023. The market is projected to expand from USD 53.79 billion in 2024 to USD 72.72 billion by 2032, exhibiting a CAGR of 3.8% during the forecast period.

Infused with a mix of mineral fillers and intumescent additives, flame retardant resins elevate thermoplastic viscosity, flexibility, and thermal stability, effectively inhibiting plastic ignition and fire propagation in diverse applications from electronics to construction. Growing recognition of the catastrophic consequences of fire accidents among consumers, businesses, and regulatory bodies is fueling the demand for products as a proactive measure to minimize fire risks across sectors such as construction and automotive.

Fortune Business Insights™ provides this information in its research report, titled “Flame Retardant Resins Market, 2024-2032”.

List of Key Players Mentioned in the Report:

• Asahi Kasei Corporation (Tokyo)
• BASF SE (Germany)
• Covestro AG (Germany)
• DuPont (U.S.)
• Idemitsu Kosan Co.,Ltd. (Japan)
• LANXESS (Germany)
• Mitsubishi Engineering-Plastics Corporation (Japan)
• RTP Company (U.S.)
• Solvay (Belgium)

Flame Retardant Resins Market Segmentation:

ABSSegment to Lead owing to Superior Material Properties

On the basis of resin, the market is fragmented into ABS, PC/ABS Alloy, Polystyrene (PS), PS/PPE Alloy, Polypropylene (PP), PA & PA66, PC/ABS Alloy, PVC, PS/PPE Alloy, PBT, and others. The ABS segment is likely to capture the largest market share during the forecast period. The exceptional impact strength, stiffness, and flame retardant qualities of ABS makes it a preferred choice for critical applications such as computer housings.

Electrical and Electronics Segment Led due to Inherent Material Properties

By application, the market is segmented into electrical & electronics (TV, Audio, PC, game, copier, refrigerator, and others); building & construction; automotive (exterior, interior, LIB cover for EV, and others); aerospace & defense, and others. The electrical and electronics segment secured the most significant flame retardant resins market share in 2023. The unique properties of flame retardant, such as flexibility, high impact strength, exceptional flame retardancy, and electrical insulating properties, contribute to their widespread adoption in various electronics-related applications.

In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

Offering detailed insights, the research report delves into crucial aspects such as leading companies, end-use industries, and market trends. It includes historical data and forecasts revenue growth on a global, regional, and country basis, while also examining the industry's latest dynamics and growth opportunities.

Drivers and Restraints:

Emerging Field of 3D Printing to Fuel Market Growth

Continuous advancements in 3D printing technology, including materials, hardware, and software, are driving market growth for flame retardant resins. As 3D printing becomes more prevalent across industries, the demand for flame retardant materials to ensure fire safety of printed parts increases. Moreover, the wide range of applications for 3D printing across industries such as automotive, healthcare, consumer goods, and aerospace, creates significant market opportunities for these products. As more sectors adopt 3D printing for manufacturing, the need for flame retardant materials to meet safety standards grows, fueling market expansion.

However, regulatory restrictions on certain flame retardants, due to their adverse environmental effects, hinder flame retardant resins market growth.

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Regional Insights:

Asia Pacific to Lead the Market Owing to Presence of Prominent Plastic Producers

The Asia Pacific region captured the largest flame retardant resins market share and is poised to lead the market during the forecast period. The significant demand in the Asia Pacific region is bolstered by the presence of prominent plastic producers, catering to the growing need for flame retardant resins and their associated end users.

The Middle East & Africa and Latin America are touted to witness significant growth due to the uptake of product in the automotive industry.

Competitive Landscape:

Key Players Adopt mergers and acquisitions Activities to Maximize Economies of Scale

The market is dominated by a select group of major players who maintain a competitive edge through proprietary products. Continuous R&D activities drive innovation to meet the dynamic demands of the electronics sector. Covestro AG, DuPont, and LANXESS stand out as leading flame retardant resin manufacturers, with market growth fueled by plant expansions and strategic mergers and acquisitions aimed at bettering economies of scale.

Key Industry Development:

August 2022: SABIC expanded its range of highly chemically resistant LNP CRX polycarbonate (PC) copolymer resins by introducing four new grades. These grades are known for their sustainability, low-temperature ductility, thin-wall flame retardancy (FR), and ultraviolet (UV) stability, catering to applications in healthcare and consumer electronics.