Brominated Polystyrene has various applications such as manufacturing plastics, resins, engineering plastics and as brominated flame retardants. Brominated flame retardants (BFRs) are organic-bromine compounds that have an inhibitory effect on combustion chemistry and tend to reduce the flammability of products containing them. They are effective in plastics and textile applications like electronics, clothes and furniture. Brominated Polystyrene is used as brominated flame retardants. The electronics industry accounts for the greatest consumption of BFRs (Brominated Flame Retardants). In computers, BFRs are used in four main applications: in printed circuit boards, in components such as connectors, in plastic covers, and in electrical cables. BFR’s are also used in a multitude of products, including, but not exclusively, plastic covers of television sets, carpets, pillows, paints, upholstery, and domestic kitchen appliances.
The global brominated polystyrene market is estimated to surpass US$ 905.03 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 6.3% during the forecast period (2021 to 2028).
One of the key factors expected to stimulate market growth during the forecast period is the multiple applications of brominated polystyrene in plastic manufacturing industry. Brominated polystyrene (BPS) is present in the form of white granules or powder that contain chemicals such as bromine (around 66%), chlorine (≤ 1.5), and other volatile content. It has a melting point of more than 150°C, thus provides excellent thermal stability and flow properties to high-temperature applications such as the production of injection molded products, printed circuit boards (PCBs), and textile coatings & intumescent paints.
Brominated Polystyrene provides outstanding thermal stability and electrical performance. It is particularly suitable for engineering plastic applications such as polyesters (Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polycyclohexylene Terephthalate (PCT)) and Polyamide (PA) nylons which has outstanding thermal stability. It is an ideal choice for high temperature applications such as engineering plastics.
Among regions, Asia Pacific held dominant position in the global brominated polystyrene market in 2020, accounting for 62.9% market share in terms of revenue, followed by North America and Europe. For instance, in June 2020, Tosoh Corporation, a manufacturer of bromine in Japan, announced the expansion of its production capacity for bromine for use in flame retardants, fungicides, medicines, and agrochemicals at its Nanyo Complex in Shunan City, Japan. Moreover, the company plans to invest US$ 93 million in the project by 2022 to meet the growing demand for bromine.
Figure 1. Global Brominated Polystyrene Market Revenue Share (%), By Region, 2020
Overexposure to brominated polystyrene may lead to neurodevelopmental toxicity, thyroid effects, and other adverse effects on human health. Also, direct contact with BPS may cause skin corrosiveness, low inhalation, dry eye, respiratory tract mucosal irritation, parallel pain, dizziness, general weakness, nausea and vomiting, suffocation, pneumonia, and pulmonary edema. These concerns about the usage of BPS are expected to hinder the market growth to some extent.
|Base Year:||2020||Market Size in 2021:||US$ 589.5 Mn|
|Historical Data for:||2017, 2018, and 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||6.3%||2028 Value Projection:||US$ 905.03 Mn|
Lanxess, ICL, Gola Sun Technologies, Hainan Zhonxin Chemical Co., Ltd., Oceanchem Group Limited, Qingdao Richchem Co., Ltd., Shandong Runke Chemical Co., Ltd., Shandong Tianyi Chemical Co., Ltd., Shandong Xurui New Materail Co., Ltd., Wufeng Chicheng Biotech Co., Ltd., Sunris, and Novista
|Restraints & Challenges:||
According to the WEEE (Waste Electrical and Electronic Equipment) directive, plastics containing BPS have to be separated before further treatment of the waste. The objective of these regulations is to ensure that e-waste is effectively recovered and recycled, and that new equipment does not contain problematic substances.
The Brominated Polystyrene (BPS) market for the chemical industry is expected to grow at a significant rate during the forecast period. The growing demand from end-user industries such as automotive, construction, home appliances, and others is anticipated to drive growth in this application segment.
Figure 2. Global Brominated Polystyrene Market Revenue Share (%), By Application, 2020
On the basis of application, in 2020, polyamide held largest revenue share of 62.5% in global brominated polystyrene market. The surging need for enhancing durability and tensile strength by producing polyamide 6 and polyamide 66 polymers is projected to augment the market growth for this segment. These polyamides are largely used for the production of a variety of textiles, plastics, and automotive components. Thus, increasing demand for textiles is expected to drive the demand for polyamides. For instance, according to IBEF (India Brand Equity Foundation), the textile and apparel market in India was valued at US$ 100 billion in 2019 and is expected to exhibit a CAGR of 12% to reach US$ 200 billion by 2026.
Global Brominated Polystyrene Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has resulted in an unprecedented decline in the sales of automotive, consumer electronics, and home appliances. This decline has, in turn, been reflected in the revenue of the plastic industry. As per Coherent Market Insights’ analysis, the rapid decline in demand from end-use industries coupled with declining feedstock prices resulted in the change of price for polyvinyl chloride (PVC) in the U.S. It was traded at US$ 620-630 per ton in the first half of April 2020 from US$ 840-860 per ton in March 2020, a decline of around 27% in the span of one month. These factors have reduced the demand for flame retardants, thereby hampering the demand for Brominated Polystyrene market
Key players operating in the global brominated polystyrene market include Lanxess, ICL, Gola Sun Technologies, Hainan Zhonxin Chemical Co., Ltd., Oceanchem Group Limited, Qingdao Richchem Co., Ltd., Shandong Runke Chemical Co., Ltd., Shandong Tianyi Chemical Co., Ltd., Shandong Xurui New Materail Co., Ltd., Wufeng Chicheng Biotech Co., Ltd., Sunris, and Novista.
The global brominated polystyrene market is growing due to its various applications in the electrical and electronics industry. The growth of the electrical and electronic industry benefits the market for both the markets. The global electrical and electronics industry is growing at a significant rate. Plastics play a crucial role in the manufacturing of electrical and electronic products. Plastics are used in the industry for applications such as connectors, electronic housing components, wire & cable, switches, and printed circuit boards. Since manufacturing process of these products require good thermal stability and resistance, chemicals such as BPS are largely used for such applications.
For instance, advantageous properties of BPS such as higher melting point coupled with government regulations on controlling emissions from automobiles are factors influencing OEMs to use chemicals such as BPS in the manufacture of automotive plastic components. Also, the need for reducing fire risks arising due to heat generation and overheating of the engine or due to electrical overload/shorting, etc. is driving the demand for BPS. Thus, almost all plastic parts in an automobile must exhibit good flame-retardant properties, which in turn is expected to boost the market growth for BPS over the forecast period.
Plastics play a significant role in the construction industry, especially for applications such as roofing, insulation, wall coverings, windows, piping, and fences. Plastics are not only aesthetically pleasing, lightweight, and low in cost, but are also functionally efficient. Rapid urbanization is expected to boost demand for various thermally stable plastic products for building construction, thereby driving demand for flame retardants like BPS. Thus, a significant increase in urbanization is expected to further fuel demand for BPS in the near future.
The bromine industry along with its value chain focuses on technological innovations to address the restrictions on the use of brominated flame retardants. The development of a recycling system of brominated flame-retardant-laden polystyrene is one such initiative undertaken by the key players operating in this market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.