Growing industrialization has led to growth in chemical, polymer, pulp & paper industries owing to which the flame retardant polyester resins market is also witnessing considerable growth. Increase in urbanization in developing countries has given a boost to the building & construction industry, due to which increase in demand for flame retardant polyester resins is being witnessed. Growth in automotive & aerospace industry is resulting in the growth of the Flame Retardant Polyester Resins Market.
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Flame retardant polyester resin is a type of flame retardant resin whose base is polyester. Flame retardant is a chemical substance or compound which stops fire or its spreading through physical action or chemical reaction. Usually unsaturated polyester resins show poor resistance towards fire. However, developments in science & technology and growth in nanoscience have helped to enhance the flame retardance property of polyester resins. Flame retardant polyester resins are generally classified on the basis of additives added in the resin. Most commonly used flame retardant polyester resins are halogenated unsaturated flame retardant polyester resins, phosphorous containing flame retardant polyester resins, aluminum trihydrated flame retardant polyester resins, etc. Additives, such as antimony pentaoxide & antimony trioxide are also added in flame retardant polyester resins. Flame retardant polyester resins find applications in chemical and other industries in ducts and other process equipment. Flame retardant polyester resins are also used in automotive and aerospace industries in various parts, such as belt guards and covers. Flame retardant polyester resins are also witnessing demand from the construction industry. Flame retardant polyester resins are also finding applications in the marine & shipping industry. Certain types of flame retardant polyester resins don’t come under the category of green chemicals as they are considered to be harmful compounds. Various safety tests, such as ASTM E-84, E 162, ASTM E 1354, etc., are carried out on flame retardant polyester resins before they are used.
That apart, shift towards the use of plastic in the manufacturing of automotive has also increased the demand for flame retardant polyester resins from the automotive industry. Growth of marine & shipping industry will also promote the growth of the flame retardant polyester resins market. However, the presence of other green flame retardant solutions may restrain the growth of the flame retardant polyester resins market.
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Urbanization is increasing at a good pace in regions of Asia Pacific and Latin America due to which growth in construction industry in these regions is being witnessed. Chemical & other industries are also growing in regions of Asia Pacific and Latin America due to the presence of growing economies and developing countries. Thus, due to the aforementioned factors, Asia Pacific and Latin America will be promising markets for flame retardant polyester resins. Significant presence of automotive industry in regions of Western Europe, North America & Japan makes these regions potential markets. The construction industry is also booming in regions of Middle East & Africa due to which these regions can be considered as steadily growing market for flame retardant polyester resins.
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