Stratview Research announces the addition of a new market research report on Global Flame Retardant Resin Market in the Composites Industry by Resin Type (Phenolic Resin, Polyester Resin, Epoxy Resin, and Others), by Composites Type (Glass Composites, Carbon Composites, and Others), by End-Use Industry (Aerospace & Defense, Transportation, Building & Construction, Electrical & Electronic, Marine, Pipe & Tank, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019 – 2024
This market report from Stratview Research studies the global flame retardant resin market in the global composites industry over the period 2011 to 2022. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Flame Retardant Resin Market in the Composites Industry: Highlights
As per Stratview Research, the global market for flame retardant resin in the composites industry is expected to offer a robust growth of 5.7% CAGR during the forecast period of 2019 to 2024, which offers an opportunity to the chemical industry players to align themselves with the market growth.
There are several factors bolstering the growth of flame retardant resin market in the composites industry. The author of the report cited increasing penetration of composite materials in FST (Fire, Smoke, and Toxicity) applications in different industries, such as transportation, aerospace & defense, and marine, introduction of more stringent standards related to fire and safety, and an organic growth of end-use industries, such as increasing global automobile production as the major growth drivers of the market.
Based on resin type, Phenolic is expected to remain the most dominant resin type in the global flame retardant resin market over the next five years, driven by its excellent FST property and good performance and epoxy resin is estimated to experience the highest growth in the global flame retardant resin market in the composites industry during the forecast period.
As per the study, Aerospace & defense industry is projected to witness the highest growth over the next five years, driven by increasing use of phenolic prepregs in the interior applications such as galleys, coupled with increasing production rates of composites rich aircraft such as A350XWB, B787, and Bombardier C Series.
In terms of region, North America is expected to remain the largest market in the global flame retardant resins for the composites industry during the forecast period. However, Asia-Pacific is projected to witness the highest growth in the global FRR market in the same period, driven by China and India.
Ashland Inc., Sumitomo Bakelite, Hexion Inc., Georgia-Pacific Chemicals, Huntsman Corporation, and Olin Corporation are some of the major players in the global flame retardant resin market for the composites industry. Development of new applications and collaboration with customers are some of the key strategies adopted by major companies to gain a competitive edge over others.
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. 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 research report:
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Free customization options for market research report on global flame retardant resin market in the composites industry.
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