The
low smoke halogen free flame retardant polypropylene market is expected to grow by USD 256.08 million during
2020-2024. The report also provides the market impact and new opportunities
created due to the COVID-19 pandemic. The impact can be expected to be
significant in the first quarter but gradually lessen in subsequent quarters –
with a limited impact on the full-year economic growth, according to the latest
market research report by Technavio.
Request challenges and opportunities
that influence COVID-19 pandemic - Request a free sample report of the
low smoke halogen free flame retardant polypropylene market
Polypropylene is one of the most widely manufactured synthetic plastics
across the world. This is mainly due to the increasing consumption of
polypropylene in various end-user applications such as packaging and labeling,
textile, automotive, and others. Also, the manufacturing of polypropylene is
less expensive compared to other polymers. In addition, properties such as low
smoke and flame retardancy are contributing to the increased consumption of
polypropylene worldwide. Many such factors are driving the growth of the global
low smoke halogen free flame retardant polypropylene market.
As per Technavio, the growth of the construction industry in APAC will
have a positive impact on the market and contribute to its growth significantly
over the forecast period. This research report also analyzes other significant
trends and market drivers that will influence market growth over 2020-2024.
Low Smoke Halogen Free Flame Retardant Polypropylene Market: Growth of
Construction Industry in APAC
The APAC region has witnessed a remarkable growth in the construction
industry over recent years. The transition of the Chinese economy into a
consumer-based and sales-driven economy has positively impacted various sectors
including healthcare, education, social infrastructure, and other consumer
end-markets. Also, during the forecast period, the construction industry in
India is expected to have a growth rate of almost twice that of China. Low
smoke halogen free flame retardant polypropylene is widely used in the
construction industry in the form of hot-melt adhesives. Therefore, the growing
construction industry in APAC will have a positive impact on the global low
smoke halogen free flame retardant polypropylene market during the forecast
period.
Low Smoke Halogen Free Flame Retardant Polypropylene Market:
Segmentation Analysis
This market research report segments the low smoke halogen free flame
retardant polypropylene market by application
(construction, automotive, electrical and electronics, industrial, and others)
and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the low smoke halogen free flame retardant
polypropylene market in 2019, followed by North America, Europe, MEA, and South
America respectively. During the forecast period, APAC is expected to register
the highest incremental growth due to the easy availability of raw materials
and cheap labor in the region.
Technavio’s sample reports are free of charge and contain multiple
sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more. Request a free sample report
No comments:
Post a Comment