DETROIT, January 22, 2019
DETROIT, January 22, 2019 /PRNewswire/ --
Stratview Research announces the launch of a new research report on Flame-Retardant Resin Market in the Composites Industry by Resin Type (Phenolic Resin, Polyester Resin, Epoxy Resin, and Others), by Composites Type (Glass 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 flame-retardant resin market in the composites industry over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The 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.
Flame-Retardant (FR) Resin Market in the Composites Industry: Highlights
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 and high-temperature-resistant applications must meet FST (fire, smoke, toxicity) properties imposed by several regulatory authorities. It is believed that FR resin is likely to remain one of the most important resin types in the overall composite resins market in the foreseen future.
As per Stratview Research, the flame-retardant resin market in the composites industry is estimated to grow at a healthy rate over the next five years to reach an estimated value of US$ 5,735.8 million in 2024. Flame-retardant resins account for approximately 25% of the total composite resins (thermoset + thermoplastic) market. Organic growth of end-user industries such as aerospace & defense, rail, and electronics, growing penetration of composites in these industries and introduction of stringent FST regulations are the major growth drivers for FR resin in the composites industry.
Electrical & Electronics (E&E) industry is expected to remain the largest segment of the market over the next five years. The segment is also likely to witness a healthy growth in the same period. 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 common ones, which primarily use FR epoxy resins.
The transportation segment is projected to witness the highest growth over the next five years. Rail, bus, and recreational vehicles are the major users of FR composite parts in this industry. 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 and the fastest-growing market during the forecast period. 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 developed economies to developing ones, increasing demand for high-speed and metro rails, development of commercial & regional aircraft indigenously, and increasing oil & gas activities. North America is likely to remain the second-largest market over the next five years. The region is the largest FR resin market for various end-use industries including marine, A&D, pipe & tank, and building & construction.
The market is encircled by a well 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 & acquisitions are some of the key strategies adopted by major companies in order to gain a competitive advantage over others.
This report provides market intelligence in the most comprehensive way. 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 report:
This report studies the flame-retardant resin market in the global composites industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Flame-Retardant Resin Market in the Composites Industry by Resin Type:
Flame-Retardant Resin Market in the Composites Industry by Composite Type:
Flame-Retardant Resin Market in the Composites Industry by End-Use Industry Type:
Flame-Retardant Resin Market in the Composites Industry by Region:
Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Advanced Materials Industry
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