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 continuous growth of the residential and commercial industry, mainly office space construction, is expected to have a positive impact on the market. Furthermore, one of the largest manufacturer of automotive vehicles in the globe. The production has recorded a strong growth since the last five years and the sales of automotive vehicles have been growing at a constant growth rate. For instance, according to Select USA, the United States has one of the largest automotive markets in the globe. In 2018, the United States exported 1.8 million new light vehicles and 131,200 medium and heavy trucks (valued at over USD 60 billion) to more than 200 markets around the globe, with additional exports of automotive parts valued at USD 88.5 billion.
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 United States 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 United States 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 United States 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. In addition, thermoplastic segment is also witnessing rapid growth in the market. The flame retardant thermoplastic resin has outstanding flame retardancy, long-term durability, thermal stability, and is environmentally-friendly, which is likely to contribute 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 followed by building and construction held largest market share of the FST composite resin market. Factors such as growing production and sales of automotive vehicles across the United States, the vast presence of several leading automotive companies, increasing use of composite resins in automotive interiors and rising heat retardant across the country are boosting the market growth.
The major key players of market include Ashland Inc (United States), AOC LLC (United States), BASF SE (Germany), Hexion Inc (United States), Huntsman International (United States), 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.
