BROMINATED POLYSTYRENE MARKET ANALYSIS

Key Takeaways from Analyst

This market is expected to witness steady growth over the forecast period driven by increasing flame retardancy requirements in the electronics and construction industries. The Asia Pacific region, spearheaded by China, India, and Japan, is anticipated to dominate the market share owing to the presence of dominant electronics manufacturers and growing construction spending in the region. Strict fire safety regulations for wires and cables in buildings are also boosting adoption in Asia Pacific.

North America is anticipated to remain major markets however their growth is expected to be moderate compared to developing nations due to maturity. Demand from electrical and building industry is projected to push consumption in the U.S. and Germany.

Rising demand for flame retardant materials from developing economies of Latin America and the Middle East & Africa are likely to open new avenues for market players over the next few years. Substitution threat from halogen-free options is a key challenge that can restrain revenue potential to an extent in developed markets. However, continued research towards developing environment-friendly products could address this concern.