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:
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