Flame Retardant ABS Market Size, Share, and Industry Analysis, By Type (Non-halogen Type and Halogen Type), By Application (Appliance, OA Machine Automotive, Industrial), Regional Insights, and Forecast To 2031

Updated On: 13 November 2023

Flame Retardant ABS Market REPORT OVERVIEW

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The global flame retardant ABS market size is expected to be USD 7085.5 million in 2022 and market is projected to touch USD 9758 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.6% during the forecast period.

ABS is a polymer with flame retardant characteristics. It's most typically found in appliances, automobiles, and industrial settings. The main aspect about flame retardant ABS above all other substances including such polypropylene or nylon is its inexpensive raw material cost in comparison to the superior performance, mechanical strength, and oxidation resistance it provides. Furthermore, it can be customised for specific engineering necessities (e.g., electronic insulation), making it suitable for different markets all over various industries, which would include automobiles, where its utilisation is rapidly increasing due to rigorous safety requirements relating to re-useable plastic components meant to come into proximity with food product.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

Beginning in 2021, the COVID-19 illness spread around the globe, affecting countless people in general, and major governments across the world issued orders for work stoppages and foot restrictions. Most initiatives have been seriously impacted, with the exception of the groups that provide medical products and life support equipment. The COVID-19 outbreak has devastated numerous nations around the globe and had a significant impact on the aviation sector. Due to a lack of ridership, airlines all over the world experienced financial problems and had to reduce capacity at unheard-of rates. Some airlines stopped operating entirely. The majority of airlines changed their orders, which had an immediate impact on the market of flame retardant ABS because it is a low-cost engineering material that is simple to process and create. Flame retardant ABS is an excellent material for mechanical or structural applications that require load bearing capacity, strength, and stiffness. ABS thermoplastic fire-rated sheeting can be employed to create glare shielding and side screen or panel backing for aeroplanes.

Due to the pandemic, new market dynamics and advancement in engine manufacturer industry have emerged, fostering the development of engines models and strategies for regaining growth and revenue streams. It is hoped that the technological advancements will amplify the pandemic's effects from the previous years and continue to increase demand for the advanced material.

LATEST TRENDS 

"Employment of Non-Halogen to Stimulate Market Development "

The term "non-halogen type" refers to flame blocking products that are not categorised as halogens. Because it does neither melt or create harmful fumes when emitted into the environment during burning, non-halogen ABS is widely employed in device or gadgets and OA machine applications. ABS without halogens is utilised in a range of implementation, notably such as appliances and OA equipment. Non-halogen ABS is made of a flame retardant synthetic polymer. These substances or chemicals are used to slow down the spread of fires, and to lengthen the duration for melted material to combust, and limit harmful smoke emissions during combustion.

Flame Retardant ABS Market SEGMENTATION

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• By Type

Based on type; the market is divided into non-halogen type and halogen type

Non-halogen type is the leading part of the type segment.

• By Application

Based on the application; the market is divided into appliance, OA machine, automotive, industrial

Appliance is the leading part of the application segment.

DRIVING FACTORS

"Expanding Application Areas in Automotives to Aid Market Expansion "

Flame retardant is utilised in the automotive sector for treating plastics. It is mostly used on car interior and exterior pieces such as consoles, interfaces, side panels, car seats, roof liner panels, and pillars. Because of the increasing safety standards for automobile manufacture, FR (flame retardant) ABS is employed in a wide range of applications. Flame retardant ABS into OA machine or equipment is used to improve the thermal durability of polymers and decrease their flammability. Particularly, it either suppresses or slows the ignition of such materials when exposed to heat. This can be extended by introducing a small quantity of FR chemicals during the manufacturing process, so that they do not easily catch fire and are much more expected to self-extinguish or quench when subjected to extreme heat.

"Rise in Industrial Activities to Foster Industry Progress "

Due to their heat resistance, flame retardant ABS polymers are frequently employed in industrial areas such as manufacturing and construction materials. It can be customised for the use of cases that necessitate electrical seclusion or blaze suppression without affecting other properties of materials, making it appropriate for a wide range of industries, including automotive, where its use is rapidly increasing due to strict regulations governing re-usable plastic pieces meant to come into direct proximity with food. When compared to ordinary polymers, flame retardants contribute in making plastics less flammable by shortening the time necessary before ignition and delaying the rate at which flames propagate along surfaces. The industry is anticipated to grow as industrial activities rise.

RESTRAINING FACTORS

"Increasing Negative Effect on Human Health to Hinder Market Advancement "

A heat-resistant ABS elastic or plastic containing halogens including such as bleach, fluorine, and bromine is known as halogen type. Because they produce materials with strong heat resistance, these compounds are frequently utilised in the manufacturing of plastics. Halogen ABS has been regarded as one of the most efficacious heat-resistant for this application, but considerations about toxicity have prompted manufacturers to investigate other types or pairings of chemical compounds that also provide high-level fire protection while having no negative effects on human health. Therefore, depleting the flame retardant ABS market growth.

Flame Retardant ABS Market REGIONAL INSIGHTS

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"Rising Demand by Automotive Sector to Foster Market Advancement in North America"

Due to the strict rules and high demand, North America to dominate the majority of flame retardant ABS market share. Automobile and appliances demand are predicted to rise the fastest in the region. Because of the growing demands about the flame retardant ABS particularly comprising in its marketplace, North America is indeed the extremely advancing region. Due to tight rules for the advanced material in numerous industries, this region's flame retardant ABS market growth is being driven by automotive and appliance applications. North America will have significant growth as a result of improved knowledge of fire safety rules, more disposable money among consumers, and increased investments by enterprises operating in this region. Furthermore, the territory is expected to expand faster during the projected period as a result of government policy measures such as tax cuts.

KEY INDUSTRY PLAYERS

"Prominent Players in the Industry to Promote Market Expansion"

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for the flame retardant ABS market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact.

The report has investigated about flame retardant ABS market from every angle, using both primary and secondary research methods. This aided the description in developing a grasp of current market dynamics, such as supply-demand imbalances, pricing trends, purchasing habits, consumer patterns, and so on. The findings were validated through more basic research about the industry professionals and opinion leaders from around the world. The data was then gathered and validated using a variety of market estimation and data validation approaches.

List of Market Players Profiled

• Chi Mei (Taiwan)
• LG Chem (South Korea)
• SABIC (Saudi Arabia)
• Lotte Advanced Materials (South Korea)
• KKPC (South Korea)
• Formosa Plastics (Taiwan)
• Grand Pacific Chemical (Taiwan)
• Techno-UMG (U.S.)
• Toray (Japan)
• CNPC (China)

REPORT COVERAGE

Flame retardant ABS market research reports provide a thorough look at key rivals through situation plan, regional and macro sales trends and scenario analysis, pricing analysis, and a comprehensive summary of market situations throughout the forecast period. It is a thorough study that focuses on fundamental and supplementary movers, customer base, leading segments, and regional analysis. The research also examines significant actors, big collaborations, mergers and acquisitions, as well as trending innovation and corporate policies.

The report also examines the equipment market's current state of development and its overall market trend. It also separates the flame retardant market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis. If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers.