The global low-smoke halogen-free flame retardant polypropylene market size was valued at USD 552.79 million in 2021 and is predicted to reach at USD 1172.16 million by 2030, increasing at a CAGR of 8.71% from 2022 to 2030.
Polypropylene (PP) is a polymer that is highly resistant to fire. PP is low-smoke halogen-free flame retardant. The demand for halogen-free flame retardant polypropylene in the building industry is soaring because of its environmentally favourable properties. The market for wires and cables is expected to increase significantly in the next years due to the rising demand for these products. As these industries have a high danger of fire spread, halogen-free flame retardant polypropylene is a popular choice because of its low smoke emissions. The global low smoke halogen-free flame retardant polypropylene market is dominated by the construction industry.
The use of fire-resistant plastics as well as polymers in commercial and residential structures is on the rise due to their thermal insulation properties. Polymers and composites including sustainable low smoke halogen-free fire-resistant polymers and compounds are expected to provide major growth prospects for the global polypropylene suppliers in the near future. In addition, favourable government regulations are expected to have a positive impact on the broader economy. In order to decrease the frequency of fire disasters, governments around the world have been drafting new rules and safety standards.
It is a major element driving growth in the market for low-smoke halogen-free flame retardant polypropylene. One of the most extensively used synthetic plastics in the world is polypropylene. This is due to its widespread use in a wide range of industries, including packaging and labelling, textiles, automobiles, and a host of others. Hydrocarbon suspension, thick slurry, and gas phase are the most common methods for producing polypropylene.
Polypropylene's manufacturing costs are significantly lower than those of other polymers. Polypropylene is in high demand due to its wide range of applications. Almost 50% of the world's polypropylene is made in Asia. Because of this, low smoke halogen free flame retardant polypropylene is widely available and can meet the increasing demand.
Due to its environmentally benign and high fire-resistant features, low smoke halogen free flame retardant polypropylene is widely used in the building and construction industry. Corrugated sheets, door trim and handles, steel structures, paints and insulation are just a few of the many uses for this thermoplastic polymer. Construction projects are on the rise around the world, which is projected to fuel the market's expansion over the forecast period.
It is estimated that India's residential industry will increase greatly in the next years as the federal government plans to build 20 million economical dwellings in India by that year, as reported by the India Brand Equity Foundation in their report. Net investment in new building projects in 2020 totaled USD 13.46 billion, an increase of 9.3% over the previous year's figure. Globally, the building and construction sector is predicted to expand at a tremendous rate, which will result in the upsurge of the demand for low-smoke halogen-free flame retardant polypropylene during the forecast period.
Low-smoke halogen-free flame retardant polypropylene market expansion may be hindered by volatile petrochemical prices. Petrochemical raw materials produced by refineries include propylene and ethylene. Crude oil, propylene, as well as ethylene prices all have a direct impact on one another. The global supply-demand imbalance affects crude oil prices. Prices of propylene, which is made through steam cracking with catalytic reforming, fluctuate in response to changes in the price of crude oil. In the manufacture of polypropylene, it serves as the monomer. Any change in the price of crude oil or petrochemicals immediately influences the cost of polypropylene as well as the supply and demand of polypropylene non-woven fabric. Price drops in important Asian petrochemicals due to the coronavirus pandemic, for example, resulted in multi-year lows in March 2020, at 17%.
The automobiles sector is among the key customers of low smoke halogen free flame retardant polypropylene polymer because this substance stops numerous auto components and parts from catching fire and gives powerful protection. The vehicle sector is developing internationally and this is projected to boost the market’s growth throughout the forecast period. According to the India Brand Equity Foundation's statistics, for example, the passenger vehicle segment dominated the Indian auto industry in fiscal year 2020 with a share in the market of 12.9% of over 20.1 million vehicles.
Similarly, the Europe's Automobile Manufacturers Association said in July 2021 that passenger car registrations had increased by 24.5% in June 2021, with Germany seeing the strongest demand, followed by Spain. Due to the significant increase in the vehicle industry, it is projected that the use of low smoke halogen-free flame retardant polypropylene would increase, opening up profitable business opportunities in the future.
| Study Period | 2018-2030 | CAGR | 8.71% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 552.79 Million |
| Forecast Year | 2030 | Forecast Year Market Size | USD 1172.16 Million |
| Largest Market | North America | Fastest Growing Market | Asia-Pacific |
The Global Low-Smoke Halogen-Free Flame Retardant Polypropylene Market is segmented by geography into North America, Europe, Asia-Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
In 2021, the market for low-smoke, halogen-free flame retardant polypropylene (PP) in North America led the global industry and accounted for 40% of the total global demand. Due to the presence of cutting-edge technology, forward-thinking businesses, and stringent governmental laws and regulations, this area is among one of the key production centers for the product.
Over the course of the projected years, it is anticipated that Asia Pacific will overtake North America to become the leader of the global industry. Countries like India, China, Malaysia, Indonesia, Sri Lanka, and Thailand are examples of developing and emerging nations that may be found in this region. Due to the fact that these nations are seeing significant expansions in the building and electrical and electronics industries, it is anticipated that the low smoke market will also experience expansion.
Since electric vehicles are becoming increasingly popular in China and India due to government initiatives like the Clean Energy Ministerial (CEM) and consumer demand, low smoke, halogen-free flame retardant polypropylene consumption is likely to rise in the near future.
Currently, China is the world's leading electronics manufacturing country. Mobile computing devices, gaming consoles, and other personal electronic devices had the most increase in the electronics sector, including cellphones, TVs, wires, and other cables. In addition to meeting domestic need, the country also exports electronic products. Twenty percent of worldwide construction investments are made in China, making it the world's most important market for building work. As a result of this forecast, the market researched in the coming years will have a potential to grow.
It is forecasted that in coming few years, the Indian electronics market would reach a value of USD 400 billion. Consumer electronics and appliances business in India is anticipated to be the fifth largest in the world by the year 2025. An estimated USD1 trillion digital economies would be in place by 2025, while India's ESDM sector is predicted to contribute more than USD100 billion in economic value by the same time period. Sales of electric vehicles have been increasing in India during the last few years. Electric vehicle sales in India (excluding e-rickshaws) climbed by 20% in 2019-20 to 1.56 lakh units operated by two-wheelers, according to the Society of Manufacturers of Electric Vehicles. The number of electric vehicles sold in the same time of prior years was 1.3 million.
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The Global Low-Smoke Halogen-Free Flame Retardant Polypropylene Market is divided into different segments according to the Application and Region (Geography).
By Application, the Global Low Smoke Halogen Free Flame Retardant Polypropylene Market is segmented into Construction, Automotive, Electrical & Electronics, Industrial, and Others. The construction industry held a commanding lead over the rest of the world's industry in 2021. The growth of the industry in emerging and developing countries such as Brazil, Indonesia, Malaysia, Chile, and Thailand, amongst others, is a major contributor to the rapid pace at which it is expanding currently. The expansion of these nations' gross domestic product is largely attributed to the construction industry, which is among the biggest reasons for that expansion.
In addition, the automotive industry has been seeing significant expansion over the course of the previous few years. Demand for items made from halogen-free PP is increasing in the industry as a result of the continued development of cutting-edge technology and the growing popularity of the most recent trends.
The application of flame retardant PP materials in other fields, such as industrial, textile, and furniture, as well as packaging and labelling, is also experiencing a potential rise in the next years. These businesses are also attempting to develop new and more modern technologies in response to an increase in the number of concerns regarding fire safety as well as the increasing number of rules surrounding this issue issued by the government.
Their resistance to flame and chemicals can differ, depending on the amount of polymer loading that they contain. Because of its superior strength, it is anticipated that the use of carbon fibre will see the fastest growth rate of any other material. On the other hand, high processing costs are anticipated to be a factor that will slow down market expansion.
By Region or Geography, the Global Low Smoke Halogen Free Flame Retardant Polypropylene Market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America, and the Middle East & Africa (MEA). As of 2021, the market for low smoke, halogen-free fire retardants in North America accounted for 40% of global demand. It among the world’s major producers of the commodity in the world, thanks to the existence of cutting-edge technology, inventiveness, and well-established regulatory regulations.
Over the forecasted period, Asia Pacific is likely to overtake North America as the worldwide industry leader. Some of the most promising countries in the region are India, China, Indonesia, Malaysia and Sri Lanka, all of which are in the development or emerging stages of their respective economies. Construction and electrical and electronic industries in these nations are booming, and the low-smoke polypropylene market is projected to follow suit.
The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.
South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.
The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.
