Tuesday, 23 August 2016

Aerospace Plastic Flame Retardant Market is Expected to Witness a Rapid Growth by 2022: Radiant Insights

The aerospace plastic flame retardant market is expected to witness a rapid growth from 2015 to 2022. The rising plastic demand, mainly because of its qualities such as light weight, is likely to continue as one of the key growth driving aspects for the global market. The growing number of air travelers and improved safety policies are said to positively affect the market. The fluctuating raw material prices are likely to cause a danger to the overall market growth. The global market is divided into applications, products, and regions.

Based on the application areas, the global market is classified as thermoset polyimides, epoxies, Carbon Fiber Reinforced Plastics (CFRP), Glass Reinforced Plastics (GRP), acetal / POM, polycarbonates, and some others, e. g., polypropylene (PP), polybutylene terephthalate (PBT), and polyphthalamide (PPA). The CFRP sector dominated the overall application sector in 2014 and is anticipated to grow at the highest CAGR in the near future. Also, the polycarbonates segment is said to have huge growth opportunities and is likely to gain importance over the usual materials e. g., wood and metal; mainly because of its properties such as low maintenance, lightweight, versatility, high resistance, flexibility etc.

The global aerospace plastic flame retardant market’s product segment is categorized as Aluminum Trihydrate (ATH), boron compounds, organophosphates/phosphorous, and antimony oxide. The ATH was the dominant product segment of the global market. It is commonly used in plastics of various aerospace applications, due to its plentiful availability and low costs. Organophosphates compounds are said to register the top compound annual growth rate (CAGR) in the next seven years. The ammonium polyphosphate, red phosphorous, and several other organophosphates came up as the fastest-growing product segments due to the rising demand in polyamides, intumescent coatings, and many other aerospace plastics applications.

Geographically, the global market is divided into North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). The Europe was the dominant regional market in 2014 mainly due to the existence of major airline companies such as Boeing, Rolls-Royce Holding, Airbus, etc. The APAC region continues to be the fastest-growing market due to the increase in the aviation industry as well as customer disposable incomes, in several developing nations like India, Indonesia, Vietnam, and so on. The APAC region is anticipated to record a healthy CAGR over the next seven years.

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