Flame Retardant Resin in E&E Composite Market is Expected to Grow at a CAGR of 6.1% by 2035
by Ganesh Kumar SEO SpecialistAccording
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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Created on Feb 24th 2022 06:07. Viewed 114 times.