The global Tetrabromobisphenol A (TBBPA) Market was valued at US$ 1,216.26 Mn in 2020, according to the Global Tetrabromobisphenol A (TBBPA) Market Report, by Product Type (Industrial Grade and Industrial Grade), by Application (Flame Retardant, Plastic Additives, and Others (plasticizer, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – published by Coherent Market Insights.
The global tetrabromobisphenol A (TBBPA) Market is expected to surpass US$ 1,904.60 Million by 2028 and exhibit a CAGR of 5.0% during the forecast period (2021-2028). Tetrabromobisphenol A (TBBPA) has its applications in plastic additives industry for various purposes such as automotive parts manufacturing. TBBPA is also used as a flame retardant in plastics, paper, and textiles, and as a plasticizer in adhesives and coatings. Being covalently bound to the polymer limits exposure to an unbound excess chemical used in the manufacturing process. Some of the common applications of plastic additives include roofing, storage containers, pipes, cables, electronics, toys, kitchenware, safety gear, cosmetic articles, household products, seat belts, door panels, greenhouse films, and silage sheets.
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Tetrabromobisphenol A (TBBPA) Market - Impact of Coronavirus (COVID-19) Pandemic
The consumer electronics industry has taken a toll due to outbreak of COVID-19 pandemic, across the globe. Globally, hypermarkets, supermarkets, and showrooms of leading brands have been shut down, affecting sales of various consumer electronics products. However, due to implication of the measures amid lockdown, enterprises across the globe have adopted remote working, as a tool to continue with their business processes. Work from home (WFH) for employees has led to an increase in demand for computers, laptops, and peripherals. Webinars and online meetings have positively impacted the sales of headphones and Bluetooth earphones. Due to the increase in demand for remote connectivity, sales of networking devices and connectivity hardware solutions have increased multifold.
Consumer electronics industry’s supply chain is majorly centered in China. As leading OEMs (original equipment manufacturers) of consumer electronic devices have their manufacturing facility in China, along with the manufacturing facility OEMs of components, the shutdown of manufacturing facilities in China has caused serious implications on the entire ecosystem of the consumer electronics industry. Though, the impact on the supply-side of the market is currently minimum as manufacturing in China has resumed, the market of the consumer electronics industry has been highly impacted the sales for products such as televisions, ACs, refrigerators, and other white goods has reduced considerably, with the changed in discretionary spending of consumers on non-essential items. TBBPA is used as a flame retardant in consumer electronic devices, reduced demand for consumer electronic products is expected to hamper the market growth of TBBPA.
Key Trends and Analysis of the Global Tetrabromobisphenol A (TBBPA) Market:
- Among regions, Asia Pacific accounted for 35.50% market share in 2020 in the global tetrabromobisphenol A (TBBPA) market.
- The rigid component in PCB assists with connecting and mounting electronic components similar to a rigid PCB, the flexible component enables bending or folding to make the board small enough to fit in tight spaces. The flexible nature of PCB eliminates the need for any flex cables and their associated connectors to provide electrical interconnection between hard boards.
Key Takeaways of the Market:
- Among application, the Flame Retardant segment held a dominant position in the global tetrabromobisphenol A (TBBPA) market in 2020.
- Tetrabromobisphenol A, the highest volume flame retardant worldwide, is a reactive brominated flame retardant (BFR) covalently bonded to the polymer structure and is less likely to be released into the environment than additive flame retardants. It is primarily utilized in the manufacturing of circuit board polymers. Tetrabromobisphenol A (TBBPA) is used in textiles, as it is one of the most prevalent flame retardants. Fire-resistant fabrics are used in the manufacturing of protective clothing that provides protection against direct fire, explosion, or arc fire. Clothing made of fire-resistant textiles will not easily catch fire, and even if it does, it will self-extinguish. The growth in fire-resistant textile market will have a direct positive impact on supply and demand for Tetrabromobisphenol A (TBBPA) and hence augmenting its market growth. Due to TBBPA’s various applications as a flame retardant in electronics and textiles industry, the global tetrabromobisphenol A market is expected to witness growth during the forecast period.
- Major players operating in the global Tetrabromobisphenol A (TBBPA) Market include 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.