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Flame Retardant Market for Engineering Resins Market worth $2.9 billion by 2029 - Exclusive Report by MarketsandMarkets™
Brominated flame retardants are estimated to be the largest type in the flame retardant for engineering resins market in 2024 due to their high effectiveness in reducing flammability and their wide availability. Despite growing concerns over their environmental and health impacts, they continue to dominate the market owing to their proven efficacy and relatively lower cost compared to alternatives. Additionally, their established usage in various industries and regulatory compliance contribute to their continued prominence in the market.
The Polyamide segment is forecasted to be the fastest-growing application in the flame retardant for engineering resins market from 2024 to 2029 due to several factors. Firstly, the increasing demand for lightweight and durable materials in the automotive and electrical industries drives the adoption of Polyamide-based engineering resins. Secondly, stringent safety regulations and the need for fire-resistant materials in these applications propel the demand for flame retardant additives in polyamide formulations, contribute to its rapid growth trajectory in the flame retardant engineering resins market during this period.
The automotive and transportation sector is expected to experience the highest growth rate in the flame retardant for engineering resins market between 2024 and 2029. This growth is driven by increasing demand for lightweight materials in vehicles to improve fuel efficiency and reduce emissions. Additionally, stringent safety regulations mandating fire resistance in automotive components contribute to the rising need for flame retardant additives in engineering resins. Furthermore, ongoing innovation in engineering resin formulations tailored for automotive applications further accelerates growth in this sector.
North America emerged as the leading region in the flame retardant for engineering resins market, primarily driven by several factors. This includes the region's strong manufacturing infrastructure and technological advancements, which facilitate the production of top-notch flame-retardant engineering resins. Moreover, stringent safety regulations across key industries like automotive, electronics, and construction propel the demand for flame-retardant materials. Additionally, North America's market dominance is reinforced by the presence of major industry players and well-established distribution networks.
The key market players identified in the flame retardant for engineering resins market report are Albemarle Corporation (US),
LANXESS AG ( Germany ), BASF SE ( Germany ), Israel Chemicals Ltd. ( Israel ), Huber Engineered Materials (US), Clariant AG ( Switzerland ), DuPont De Nemours, Inc. (US), Nabaltec AG ( Germany ), Italmatch Chemicals S.p.A ( Italy ), RTP Company (US), and Chemische Fabrik Budenheim KG ( Germany ) and others.
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