Low Smoke Halogen Free Flame Retardant Polypropylene Market to grow over 8%CAGR up to 2023

Global Market Insights, Inc., has stated that low smoke halogen free flame retardant polypropylene industry is predicted to record a cumulative growth of over 8.5% during the period from 2016 to 2023.

Low smoke halogen free flame retardant polypropylene market growth is favorably influenced by the introduction of new products by prominent business players. For instance, in 2016, Tolsa Group had launched new high-performing flame retardant synergists referred to as ADINS Clay extended range, that are used to considerably reduce smoke & heat generation in the structural, transport, electrical & electronics, and building & construction sectors.

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The European Union has banned the use of flammable materials with the strict enforcement of directives such as RoHS, REACH, and WEEE. The deployment of these norms is also expected to provide the industry players with new avenues to explore the business and launch innovative products to make their presence felt across low smoke halogen free flame retardant polypropylene industry.

Speaking on similar lines, North America low smoke halogen free flame retardant polypropylene market, which dominated the overall industry revenue in 2015, is forecast to hit USD 285 million by 2023. It is anticipated to grow at a rate of 8.5% over the coming timeframe. Surge in the construction activities of the country are also set to contribute toward North America low smoke halogen free flame retardant polypropylene industry revenue, given that the sector accounted for USD 54 million of the regional revenue share in 2015. U.S. low smoke halogen free flame retardant polypropylene industry is certain to influence North America industry.

Asia Pacific low smoke halogen free flame retardant polypropylene industry is anticipated to record an annual growth of more than 8.5% over the coming six years. Strict government measures to prevent the use of harmful products will enlarge the business scope. China, South Korea, and India are forecast to be the key regional revenue pockets. China construction sector, which was evaluated at USD 1.63 trillion in 2015, is predicted to increase its expenditure on construction activities in the future with surge in manufacturing establishments across the region. This will further boost low smoke halogen free flame retardant polypropylene industry development across APAC.

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The electrical & electronics, automotive, furniture, industrial, and construction sectors make rampant use of low smoke halogen free flame retardant polypropylene. The construction sector, which led the overall low smoke halogen free flame retardant polypropylene industry in 2015, is projected to hit a revenue of over USD 310 million by 2023. Rising urge for sophisticated infrastructure facilities coupled with escalating per capita incomes and swift urbanization will spur the industry development. In addition, strict enforcement of fire security laws by the legal authorities will accelerate the business expansion.

Automotive applications, which contributed more than USD 85 million towards low smoke halogen free flame retardant polypropylene market revenue in 2015, will propel the business space over the years ahead. Growing use of polymers in vehicles due to their ability to reduce vehicle weight and fuel consumption will attract potential investors to salt away their cash in this segment. Strict norms to curtail carbon emissions with surging vehicle sales will further steer the growth of low smoke halogen free flame retardant polypropylene market.

Escalating consumer preference toward the purchase of fire-retarding goods is forecast to upswing low smoke halogen free flame retardant polypropylene market size in the furniture sector. Electrical & electronics applications are slated to record notable gains of more than 9% over the coming timeline, subject to high product requirement in wires and cables. Mounting need for avoiding toxicity will further promote the business trends.

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https://www.gminsights.com/industry-analysis/low-smoke-halogen-free-flame-retardant-polypropylene-PP-market

Low smoke halogen free flame retardant polypropylene market is highly consolidated with top industry players trying to expand their consumer base through product differentiation and brand creation. FRX Polymers Incorporation, PolyOne Corporation, Israel Chemicals Limited, Delamin Limited, Albemarle Corporation, Chemtura Corporation, Koninklijke DSM N.V., Huber Engineered Materials, Clariant, Washington Penn Plastic Company Incorporation, Thor Group Limited, Chemtura Corporation, Lanxess Aktiengesellschaft, Nabaltec AG, BASF SE, RTP Company, and E. I. du Pont de Nemours and Company are the key participants of low smoke halogen free flame retardant polypropylene industry.

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