The global melamine pyrophosphate market is projected to attain a valuation of US$ 324.65 million in 2023 and is expected to reach US$ 580 million by 2033, growing at a CAGR of 6% during the forecast period. The market is experiencing vibrant opportunities driven by the growing demand for flame retardant additives in various industries such as textiles, home furnishings, aerospace, and automotive. Additionally, the utilization of melamine polyphosphate in the semiconductor and electronics sectors, which helps reduce the flammability of combustible semiconductors, is contributing to market growth.
Stringent government regulations that restrict the use of toxic halogenated flame retardants and increased awareness of fire safety, especially among construction professionals, are significant factors propelling industry growth. Moreover, the increased adoption of non-halogenated flame retardants in applications like packaging and textiles, along with proactive efforts from end-users to prevent fire accidents, are expected to further boost the overall market growth.
Melamine polyphosphate finds extensive applications in various products, including smartphones, laptops, refrigerators, TV sets, printed circuit boards, and vacuum cleaners. The global electrical and electronics industry is witnessing growth due to increasing per capita disposable incomes in emerging economies, which is expected to drive the demand for melamine polyphosphate in the foreseeable future.
The construction industry's rapid technological advancements, especially in the use of flame-retardant perforated materials like structural and plastic insulation, are projected to fuel the demand for melamine polyphosphate in flame-retarding construction-grade polyurethane foams. The global construction industry has been benefiting from rapid urbanization and government investments in affordable housing in several developing economies. Consequently, the construction industry's growth is anticipated to drive the overall demand for melamine polyphosphate in the forecast period.
Get ahead of the competition by accessing valuable insights from industry experts. Download our sample now and unlock the key to effective growth strategies@ https://www.futuremarketinsights.com/reports/sample/rep-gb-748
Key Takeaways from the Market Study
· The market in Europe is expected to grow with a CAGR of 5.8% during the forecast period.
· The demand for melamine pyrophosphate in Asia Pacific is expected to grow with a significant CAGR of 6.1% during the forecast period.
· By type, Industrial grade segment is expected to grow with a CAGR of 7.9% during the forecast period.
· By end-use industry, textile industry is expected to generate demand with a CAGR of 7.5% during the forecast period.
“The rising adoption of non-halogenated flame retardants in applications like packaging and textiles is expected to drive the demand for melamine pyrophosphates during the forecast period,” comments an FMI analyst.
Competitive Landscape
The market for melamine pyrophosphate is highly competitive, with various prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are Sichuan Institute of Fine Chemical Industry Research and Design, Cnsolver Technology, JLS Chemical, Zhenjiang Sanwa Flame Retardant Technology, Puyang Chengke Chemical, Shouguang Weidong Chemical, Tianyi, Shian Chemical, Century Multech Inc., Zhenjiang Xingxing Flame Retardants.
Some recent developments in the melamine pyrophosphate market are:
· In September 2022, Eurotecnica secured two major contracts for the construction of high-pressure melamine plants. These contracts involve plants with capacities of 60,000 tons and 80,000 tons per year, respectively.
· In 2020, Sichuan Chemical Holdings Co., Ltd. revealed its investment plans for a new melamine production facility in China. The plant, with a capacity of 50,000 tons per year, was intended to cater to the increasing demand for melamine in China's construction and furniture sectors.
Key Segments Profiled in the Melamine Pyrophosphate Industry Survey
By Type:
Experimental Grade
Industrial Grade
Commercial Grade
By Application:
Synthetic Resins
Thermoplastic Elastomers
Others
By End Use Industry:
Synthetic Resins
Automotive
Textile
Aerospace & Defense
Packaging
Others
By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa