Flame-Retardant Resin Market in the Composites Industry to reach US$ 5,735.8 million during the coming years (2019-2024)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Flame-Retardant Resin Market in the Composites Industry, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Flame-Retardant Resin Market in the Composites Industry.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

Flame-Retardant Resin (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 applications and high-temperature-resistant applications must meet FST (fire, smoke, toxicity) properties imposed by several regulatory authorities.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Resin Type : Phenolic Resin, Polyester Resin and Others
• by Composite Type : Glass Composites and Other Composites
• by End-Use Industry Type : Aerospace & Defense, Transportation and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
Flame-retardant resins account for approximately 25% of the total composite resins (thermoset + thermoplastic) market. 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. In resin systems, flame retardancy is of paramount importance, especially where fire, smoke, and toxicity (FST) and high-temperature properties are most importantly required. It is estimated that FR resin is likely to remain one of the most important resin types in the overall composite resins market in the foreseen future.

Market Segments
The market is segmented based on the resin type as phenolic resin, polyester resin, epoxy resin, and other resins. Epoxy resin is expected to remain the largest segment of the market over the next five years, propelled by the electrical and electronics industry. The printed circuit board (PCB) is the most dominant application where FR epoxy resins are used.
The flame retardant resins market is also segmented based on the end-use industry type as aerospace & defense, transportation, building & construction, electrical & electronics (E&E), marine, pipe & tank, and others. E&E is expected to remain the largest segment of the market over the next five years.
The transportation segment is projected to witness the highest growth rate over the next five years. In the transportation industry, rail, bus, and recreational vehicles are the major users of FR composite parts. 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 in terms of both value and volume. 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 the developed economies to the developing Asian economies, increasing demand for high-speed and metro rails, development of commercial and regional aircraft indigenously, and increasing oil & gas activities. The region is likely to remain the most attractive market in the foreseeable future.
North America is likely to remain the second-largest market over the next five years in terms of both value and volume. The region is the largest FR resin market for various end-use industries including marine, A&D, pipe & tank, and building & construction.
Europe is likely to maintain its third position in the market during the forecast period in terms of both value and volume. Building & construction and ground transportation are the growth engines of the region’s market. Recovery of the European construction market and high demand for high-speed trains and metro rails are fuelling the region’s growth.

Players
The market has a 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 and acquisitions are some of the key strategies adopted by major companies in order to gain competitive advantage over others.

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