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Tetrabromobisphenol A Market Driven by Increasing Application in Flame Retardants

Tetrabromobisphenol A Market Driven by Increasing Application in Flame Retardants

The global Tetrabromobisphenol A Market is estimated to be valued at US$ 1,292.48 Mn in 2022 and is expected to exhibit a CAGR of 5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Tetrabromobisphenol A, also known as TBBPA, is a chemical that has high efficacy as a flame retardant additive. It is a white, crystalline solid material that is majorly used in printed circuit boards, textiles, plastics and construction materials to reduce their flammability. TBBPA acts as a synergist to improve the flame retardancy of epoxy resins and epoxy-containing polymer mixtures like epoxy-based printed circuit boards. It also finds applications as a reactive flame retardant polymerized into polymers like polycarbonate and polyamides. The demand for TBBPA is rising owing to its excellent heat resistance and non-halogen properties, which make it a safer alternative as compared to halogenated flame retardants.

Market key trends:

One of the key trends shaping the tetrabromobisphenol A market growth is the stringent regulations around the use of halogenated flame retardants in electrical and electronic appliances to curb emission of toxic gases in case of fire. This is prompting manufacturers to increasingly adopt TBBPA as it is a non-halogen flame retardant with lower smoke and toxicity levels. Furthermore, the market is witnessing a rise in demand from the construction industry where TBBPA is being widely used in wall panels, insulation and coatings to impart fire resistance in buildings. The improving infrastructure development in emerging nations is fueling this growth. also, integration of more flame retardant materials in vehicles to enhance safety is propelling uptake of TBBPA in the automotive industry.

Porter's Analysis :

·        Threat of new entrants: Low capital requirements and established buyer relationships lower barriers to entry in this market.

·        Bargaining power of buyers: Large buyers have significant influence over suppliers due to the consolidated nature of the market.

·        Bargaining power of suppliers: A few major manufacturers control the global supply of this product, giving them strong bargaining power.

·        Threat of new substitutes: No close substitutes exist for this product but R&D in alternative products may pose a future threat.

·        Competitive rivalry: Major players compete intensely on pricing, quality and service to gain market share in this consolidated market.

Key Takeaways:

The Global Tetrabromobisphenol A Market Demand is expected to witness high growth, exhibiting CAGR of 5% over the forecast period, due to increasing demand from the electrical and electronics industry. North America dominates the global Tetrabromobisphenol A market currently and is expected to continue its dominance over the forecast period due to growth in end use industries.

The global Tetrabromobisphenol A market size for 2020 was US$ 1,216.26 Mn. Regional analysis Asia Pacific is witnessing fastest growth in the Tetrabromobisphenol A market due to rapid industrialization and presence of emerging economies like India and China.

Key players operating in the Tetrabromobisphenol A market are Albemarle Corporation, Greenchemicals S.r.l., ICL, Jordan Bromine Company, Kingboard Holdings Limited, LANXESS, Novel Chem, Shandong Brother Sci. & Tech. Co., Ltd., Shandong Futong Chemical Co., Ltd. and Tianjin Changlu Hangu Saltern Co., Ltd.

Read More -  https://www.insightprobing.com/tetrabromobisphenol-a-market-size-and-forecasts-analysis/

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