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.
Fire, smoke, toxicity retardant composite resins are compounds that reduces the spread of fire, smoke, toxic gases or restricts their access into sensitive areas. This group includes physically acting materials as well as chemical agents, e.g. fire-fighting foams, fire-retardant gels, or cooling the fuels. They are known as composite resins because one or more materials are combined together to obtain the desired properties in the end product. These composite resins can be applied as coatings to product. They have become a very acceptable in the fire retardant sector owing to significance of prevention.
The North American fire, smoke, toxicity retardant composite resin market is presently being driven by several driving factors. Well-established automotive and manufacturing sector, presence of number of local market players that manufactures FST composite resins, and rapidly growing construction industry, mainly in the residential sector are some of the growth factors that accredited to the market growth in the region. For instance, according to the Associated General Contractors of America, a construction association, the US construction industry has approximately 733,000 employers with more than 7 million employees and generates approximately USD 1.4 trillion worth of structures each year.
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 North America 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 North America 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 North America fire, smoke and toxicity retardant (FST) composite resin market. Polyester followed by epoxy segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. Increasing production of epoxy resin and rising adoption in automotive, aerospace industry as it offers low smoke density and low smoke toxicity is attributed to the segment growth.
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 held largest market share of the FST composite resin market. Rapid growth in the US automotive industry, increasing production and sales of automotive vehicles such as light, medium and heavy vehicles and rising use of composite resins in automotive interiors for safety purpose is boosting the market growth.
Country wise, the study is comprised of the key countries such as the United States, Canada and Mexico. The United States held the largest market share of North America fire, smoke and toxicity retardant (FST) composite resin market and is likely to dominate the market over the estimated time frame. Rapid growth in the end use industries such as building & construction, automotive & transportation, manufacturing, energy and others is propelling the market growth. For instance, Canada's manufacturing industry has huge potential for Canada's economic future and manufacturing represents over 10% of Canada's total GDP.
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 North America 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 United States, Canada and Mexico.
