Global Low Smoke Halogen Free Flame Retardant Polypropylene Market – Key Insights by Technavio

LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
low smoke halogen free flame retardant polypropylene market predicts
a CAGR of close to 9% during the period 2018-2022.

The report segments the global
low smoke halogen free flame retardant polypropylene market by
application, including construction, automotive, electrical and
electronics, and industrial and by geography, including the Americas,
EMEA, and APAC. It provides a detailed illustration of the major factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

Here are some key findings of the global low smoke halogen free flame
retardant polypropylene market, according to Technavio chemicals
and materials researchers:

• Easy availability of polypropylene: a major market driver
• Growth of the construction industry in APAC: emerging market trend
• The Americas dominated the global low smoke halogen free flame
  retardant polypropylene market with 39% share in 2017
• In 2017, the construction segment held the largest market share of 30%

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Easy availability of polypropylene: a major market driver

Polypropylene is one of the most widely produced synthetic plastics in
the world as it is extensively used in various applications such as
packaging and labeling, textile, automotive, and other industrial
applications. There are three technologies that are used to produce
polypropylene, namely, hydrocarbon suspension, bulky slurry, and gas
phase.

The manufacturing cost of polypropylene is very less when compared to
other polymers. The demand for polypropylene is very high, as it is used
in major applications. APAC produces almost 50% of the world's
polypropylene. This makes low smoke halogen free flame retardant
polypropylene to be easily available in the market.

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Growth of the construction industry in APAC: emerging market trend

In the past few years, the construction industry has shown outstanding
growth in APAC. In countries such as China, the shift of its economy
into a consumer- and services-driven economy has opened doors to new
types of construction in the healthcare, education, and social
infrastructure, as well as retail and other consumer end-markets. The
construction market in India is also expected to grow at a rate almost
twice that of China during the forecast period.

According to a senior analyst at Technavio for research on specialty
chemicals, “Low smoke halogen free flame retardant
polypropylene is used widely across the construction industry in the
form of hot-melt adhesives. The increase in demand for construction
activities from almost every sector is expected to drive the consumption
of low smoke halogen free flame retardant polypropylene in the global
market.”

Global market opportunities

In terms of regional dominance, the Americas led the global
low smoke halogen free flame retardant polypropylene market,
followed by APAC and EMEA in 2017. APAC is the fastest growing market
due to the expansion of the construction and automotive industries in
this region. APAC is also a potential market for low smoke halogen free
flame retardant polypropylene manufacturers due to the easy availability
of raw materials and cheap labor.

In the Americas, the US was the highest revenue contributor to the
market in 2017. Regulatory authorities in this region phased out
bromine-based products that are highly toxic. This proved to be a major
factor contributing towards the growth of low smoke halogen free flame
retardant polypropylene in this region. With the advent of latest
technologies, innovations, and effective government rules and
regulation, this region is expected to witness an increase in demand
during the forecast period.

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