In recent decades, consumer market has grown manifolds, giving impetus to the rise in demand for raw materials, especially chemicals. One such chemical that is witnessing surge in demand is phenoxycycloposphazene. It is a while crystalline compound having molecular weight of 693.5. Its high melting point of 115 centigrade makes it good chemical for flame retardants across wide variety of applications ranging from epoxy resins to copper clad laminate and powder paints.
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Phenoxycycloposphazene Market: Drivers & Restraints
Phenoxycycloposphazene market is witnessing unprecedented growth due to its demand as raw material in epoxy resins and electronics market. Epoxy, due to its versatile nature, has carved its image into industrial applications. From paint industry to construction of aircrafts and automobiles, epoxy has touched every corner of industrial usage. The epoxy resin industry has seen robust growth after the economic turmoil of 21st century. This billion dollar industry is expected to grow at a CAGR of around 7%, which in turn is expected to be the major driving force for the phenoxycycloposphazene market. Other driving factors that contribute to the growth of phenoxycycloposphazene is its end-use applications in construction, electronics and consumer segment. Its cost-effective nature as compared to other alternative products makes it popular among chemical industry. Though the market seems optimistic in coming years, shifting trends towards green chemicals along with stringent regulatory compliances in developed economies could throw negative shades on overall growth of phenoxycycloposphazene market.
Phenoxycycloposphazene Market: Segmentation
Phenoxycycloposphazene market can be broadly segmented on the basis of end-use applications and regional analysis. Also, the market can be analyzed on the basis of technology incurred in production of phenoxycycloposphazene. On the basis of end-use applications, phenoxycycloposphazene market can be segmented into epoxy resins, LED luminous diode, copper clad plate, paints and encapsulating material. Among all the key end-use applications, its use as halogen free fire retardant in epoxy resins is widely acknowledged. Halogen free fire retardants meets global environmental clearance and reduces smoke to a great extent for enclosed space applications. Polymers and synthetic organic compounds, which forms a base of many electronics item, are vulnerable to fire due to high carbon and hydrogen content. Phenoxycycloposphazene provides good non-halogenated fire retardants, thus gaining popularity across various industry verticals. Demand for phenoxycycloposphazene is set to increase with rise in electronics devices.
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Phenoxycycloposphazene Market: Region-wise Outlook
Asia Pacific dominates the phenoxycycloposphazene market. Heavy consumption of various electronics devices in parts of China, India, Philippines, Malayasia and CIS countries are the prime reason behind the good market prospects in Asia Pacific. The demand for phenoxycycloposphazene in Asia Pacific is followed by North America, Europe, Middle East & Africa and Latin America.
Triethylenediamine Market: Key Players
Some of the key market players in phenoxycycloposphazene market are DuPont, Mitsubishi Chemical, Tianjin Zhongxin Chemtech Co., Ltd., Zibo Lanyin Chemical Co. Ltd., etc.