When composites are used in applications such as transportation, electricals, construction, and similarly many other applications, they need to fulfill certain requirements such as fire safety. On this ground, FR resins are used in the composites. Thus, the growth of the FR resin market is directly proportionate to the growth of the composite market.
The researchers at Stratview Research have skimmed through and analyzed the current market trends before presenting the estimated details for the upcoming five years 2019-2024. The report offers the market details in the best possible way so that the interested firms can be benefitted in taking the right decisions that can be profitable for them.
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FR resins, when used in the composites, improves the fire resistance property of the composites and hence making it meet the fire safety requirements. Governments of different countries such as France, The UK, Germany, and the USA have made stringent regulations considering the fire safety that has again led to remarkable growth in the usage of FR resins globally.
The report talks about the two broad categories – halogenated FR resins as well as halogen-free FR resins. The halogenated FR resins are lesser expensive, while the halogen-free FR resins are lesser toxic in nature than the halogenated ones.
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FR resins occupy about one-fourth part of the total composites market. As per the research conducted and data analyzed by Stratview Research, the global FR resins market should increase at a healthy CAGR of more than 4.5% to reach around US$ 5700 million by the year 2024.
Stratview Research report offers valuable insights such as electrical and electronics is the biggest segment where the FR resins are being used the most. Out of the different FR resins, Epoxy FR resins dominate the current global market followed by polyester FR resin, phenolic FR resins, and others.
Asia-Pacific is the global leader market for FR resins as of now, with China not only being the top country of Asia-Pacific but also globally. There are also many other countries in the league that is growing consistently.
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Hexion Inc., Olin Corporation, Nan Ya Plastics, Ashland Global Specialty Chemicals Inc., and Huntsman Corporation are the top five manufacturing players currently. A few mergers are also taking place globally that denotes the growth of the FR resins market.
Stratview Research offers an insight into the growth of the global FR resin market and also about the different developments taking place such as in the halogen-free FR resins.
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Salient Features of the Report
The Stratview Report will offer you a detail view about the need of the FR resins, the growth of the FR resins market and the future prospects of the market. Here are the key features of the report:
- Strategic Segmentation
- Competitive Analysis
- Strategic Growth Opportunities
- Swot Analysis
- Key Players
- Forecast Analysis & Future Growth
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