July 20, 2024

Tetrabromobisphenol A Market Is Expected To Be Flourished By Rising Demand For Fire-Retardant Materials

Tetrabromobisphenol A or TBBPA is an aromatic bromine compound that is majorly used as a fire retardant in printed circuit boards, textiles, wires and cables, and plastics. It helps in slowing the acceleration of fire in case of fire by releasing non-flammable gases. TBBPA also finds applications as a reactive flame retardant which binds with the polymer backbone during production and enhances its flame resistance. Some key end-use industries of TBBPA include electronics, construction, transportation, and others. Rapid industrialization and urbanization in developing regions have propelled the demand for fire-retardant applications such as electronics, wire insulations, and circuit boards. Furthermore, stringent fire safety regulations across various industries mandate the use of fire-retardant materials, thereby driving the tetrabromobisphenol A market.

The global Tetrabromobisphenol A Market is estimated to be valued at US$ 1407.97 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the major drivers for the tetrabromobisphenol A market is the rising demand for fire-retardant materials from various end-use industries such as electronics, construction, and transportation. Rapid industrialization along with growing safety concerns has increased the adoption of flame-retardant applications. Moreover, strict fire safety regulations across industries have made the use of fire-resistant materials mandatory. TBBPA plays a crucial role in slowing down the acceleration of fire, thereby preventing further damage. All these factors are expected to fuel the growth of the tetrabromobisphenol A market over the forecast period. Furthermore, improving standards of living and rising per capita income in developing regions have led to increased spending on consumer electronics and vehicles. This in turn has boosted the demand for TBBPA-containing components and parts required in these industries.

Segment Analysis
Tetrabromobisphenol A is majorly used in producing printed circuit boards which holds majority market share of around 60%. Within printed circuit boards, it is used in rigid printed circuit boards which dominates the segment. This is because rigid printed circuit boards find extensive application in electronic products such as computers, telecom equipment, consumer electronics and others which sees growing demand driving the tetrabromobisphenol A market.

PEST Analysis
Political:
Regulations on hazardous chemicals and brominated flame retardants in major regions can impact the market. However, exemptions for tetrabromobisphenol A in wire and cable applications provide opportunities.
Economic: Growing electronics and electrical industries fueled by improving global economic conditions augment the demand. Developing nationswitness higher economic growth driving more consumption.
Social: Increasing electrical and electronic product usage per capita is a key factor. However, environmental and health concerns related to brominated compounds challenge the market.
Technological: New flame retardant solutions can emerge as alternatives. But tetrabromobisphenol A is economical and effective solution meeting industry standards currently posing no major technological threats.

Key Takeaways
The Global Tetrabromobisphenol A Market Analysis is expected to witness high growth. The global Tetrabromobisphenol A Market is estimated to be valued at US$ 1407.97 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.

The Asia Pacific region currently dominates the market and is expected to continue its lead. China contributes majority of the market share in the region owing to presence of robust electronics manufacturing base andlenient regulations regarding brominated flame retardants.

Key players operating in the tetrabromobisphenol A market are Albemarle Corporation, Greenchemicals S.r.l., ICL, Jordan Bromine Company, Kingboard Holdings Limited, LANXESS, Novel Chem, Shandong Brother Sci. & Tech. Co., Ltd., Shandong Futong Chemical Co., Ltd. and Tianjin Changlu Hangu Saltern Co., Ltd. Albemarle Corporation is a prominent global player with wide geographical presence and strong market position. GreenChemicals through its portfolio provides greener alternatives.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it