Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The fire, smoke and toxicity factors of composite materials are becoming major considerations in the design and maintenance of composite structures. A FST composite resin is a material that minimizes the spread of fire, smoke, toxic gases or interrupts their entry into sensitive areas. According to their usage they are made of a variety of materials using different processes. Increasing demand for low cost composite materials with improved fire and structural properties is making more demand for FST composite resin.
The Asia Pacific fire, smoke, toxicity retardant composite resin market is growing at a rapid pace. Rapidly growing number of manufacturers providing advanced technology based vehicles and automotive components is primary factors supporting the high-paced growth. In addition, rapid growth of energy sector and logistics & transportation industry in the region is expected to contribute to the product demand in the coming years. Besides, rising industrialization and urbanization, the massive presence of extremely proactive consumers, an increasing population of the economies such as India and China, rapidly shifting market conditions and increasing trend and popularity of the flame retardant composite resins across the region are key dominant factors behind the growth of FST composite resin market across APAC region.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the fire, smoke and toxicity retardant (FST) composite resin market. In addition, complete analysis of changes on fire, smoke and toxicity retardant (FST) composite resin market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Asia Pacific economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the fire, smoke and toxicity retardant (FST) composite resin market was moderate owing to the decline in demand from automotive, building & construction, aerospace & defense, electrical & electronics, and transportation industries.
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The study analyses Asia Pacific fire, smoke and toxicity retardant (FST) composite resin market based on resin type, application and country.
Various resin types such as phenolic, polyester, epoxy, thermoplastic, vinyl ester and others are analyzed in the Asia Pacific fire, smoke and toxicity retardant (FST) composite resin market. Polyester followed by epoxy segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. The growing demand for unsaturated polyester (UP) and epoxy, and increasing regulations for fire safety, have driven the development of high-performance ecofriendly fire, smoke and toxicity-retardant resin types and thereby FST composite resin market.
Major applications of the fire, smoke and toxicity retardant (FST) composite resin market are building & construction, automotive & transportation, manufacturing, energy and others. Automotive and transportation segment followed by building and construction held largest market share of the FST composite resin market. The surged use of composite parts in the interior application of high speed, metro, monorail, intercity, trams, commuter rails and so on are propelling the growth of the FST composite resin market.
Country wise, the study is comprised of the key countries such as China, India, Japan and Rest of Asia Pacific. China held the largest market share of Asia Pacific fire, smoke and toxicity retardant (FST) composite resin market and is likely to dominate the market over the estimated time frame. This is owing to the increasing demand form automotive and construction industry. FST composite resin are extensively used in building and construction materials to meet the significant fire safety standards and codes. Likewise, growing population in the country, increasing chemical production and growing industrial manufacturing activities are further anticipated to increase market growth in the country.
The major key players of market include Ashland Inc (United States), AOC LLC (United States), BASF SE (Germany), BUFA Composite Systems GmbH & Co. KG (Germany), Hexion Inc (United States), Huntsman International (United States), Mäder (Australia), NORD Composites (France), Polynt S.p.A. (Italy), Reichhold LLC (United States), SABIC (Saudi Arabia) and Scott Bader Company Limited (United Kingdom) among others.
September 2020: Scott Bader Co Ltd and Structural Science Composites Ltd have signed a five-year partnership for the supply of a Crestapol urethane acrylate resin for the production of composite covers and frames. This agreement enables Structural Science Composites to grow their business with a long-term consistent supply of high-performance material from Scott Bader
April 2018: Huntsman launched new flame retardant TPU’s at wire 2018 and set new standard for connection protection. The IROGAN FR TPU is a unique family of halogen-free, flame retardant cable jacketing material. IROGRAN FR TPU products are designed for use in transportation, automation, energy and consumer electronics applications, where flame retardancy is essential, and the physical failure of wire and cable jacketing systems is not an option
The study analyses Asia Pacific fire, smoke and toxicity retardant (FST) composite resin market based on resin type, application, and country. Various resin types such as phenolic, polyester, epoxy, thermoplastic, vinyl ester and others are analyzed in the market. The polyester resin segment is likely to dominate the market over the forecast period. Increased adoption of polyester resin type owing to its several benefits is attributed to the market growth. Major applications of the fire, smoke and toxicity retardant (FST) composite resin market are building & construction, automotive & transportation, manufacturing, energy and others. The automotive & transportation segment is likely to register fastest growth in years to come owing to the growing adoption of FST composite resin by automotive manufacturing companies. Country wise, the study is comprised of the key countries such as the China, India, Japan and rest of APAC.
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