In the latest research report compiled by Global Market Insights, Inc., Low smoke halogen free flame retardant polypropylene (PP) market has been projected to expand steadily.
Growth in halogen-free flame retardants with high efficiency is likely to pick pace in the ensuing period. Given that the halogen-free flame retardant polypropylene has environment-friendly properties, it is being highly sought-after among stakeholders.
Rising cases of fire related incidents in construction industry are presenting viable growth opportunities to stakeholders eyeing to boost their portfolios. According to the U.S. Bureau of Labor Statistics, 66 construction workers succumb to fires, explosions and hazardous chemicals every year in the U.S.
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Palpable rise in construction activities is expected to have provide unparalleled growth opportunities to stakeholders. Most notably, rising construction activities in countries such as India and China have made APAC as a viable investment destination.
Trends to be witnessed in the business landscape
Increased traction for polymers in automotive industry is likely to be witnessed in the next 5 years. With polypropylene being one of the fastest growing commodity plastics globally, its deployment in automotive, buildings, and transportation has been growing in a steadily. In a bid to enable PP to be used safely, halogen free retardants are prevalently being added to boost the retardant capability.
Profound use of plastic in transportation industry is likely to fuel the growth in low smoke halogen free flame retardant polypropylene (PP) market industry. Besides, implementation of new safety guidelines in APAC, North America and Europe will continue to foster growth in the industry. North America is expected to witness surged demand for halogen free flame retardants with low smoke performance, thereby fueling growth in the industry.
Forward-looking companies are emphasizing product roll outs and advanced technologies in end-use industries such as automotive, construction, and electronics industries. It is worth mentioning that derailing the fire outbreak and reducing the VOC emissions have acted as few of the major drivers that are likely to boost the growth of low smoke halogen free flame retardant polypropylene (PP) market.
Restraints and potential challenges
There are some of the underlying restrains and challenges such as the risks of environmental downsides linked with the emission of flame retardants. Accordingly, governments have been implementing rigorous laws and regulations.
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Given that polypropylene offers good rigidity, low density, chemical resistance, high strength, and tremendous processing performance, its popularity has soared in automotive, construction and electronics industries.
PP material with tremendous flame retardant performance is likely to witness profound investment in the next five years. It is predicted that forward-looking companies will continue to invest in halogen-free flame retardant PP with low density and environmental protection. Even though COVID-19 fallout may be predicted to hamper the business, Low smoke halogen free flame retardant polypropylene (PP) market industry will probably grow steadily in the next half-a-decade.
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