New York, United States , July 17, 2024 (GLOBE NEWSWIRE) -- The Global Tetrabromobisphenol A Market Size is Expected to Grow from USD 1.20 Billion in 2023 to USD 1.93 Billion by 2033, at a CAGR of 4.87% during the forecast period 2023-2033.
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Tetrabromobisphenol A (TBBPA) is a synthetic chemical molecule that belongs to the category of brominated flame retardants. It is synthesized from bisphenol A by replacing all of the hydrogen atoms with bromine. TBBPA is widely used as a flame retardant in numerous products, including electronic devices, electrical equipment, and building materials. The global market for tetrabromobisphenol A (TBBPA) is driven by a number of major factors, emphasizing its significance in a number of industries. TBBPA is well-known for its flame-retardant properties, but it also plays an important role in maintaining fire safety in electronics, automotive components, and building materials. TBBPA's market position is strengthened by its compliance with stringent global regulatory standards, which assure industries of its dependability and safety. However, the market for tetrabromobisphenol A (TBBPA) is hampered by numerous issues, such as increased demand for non-halogenated flame retardants. Fluctuations in raw material pricing and geopolitical variables affecting supply networks to market dynamics.
Browse key industry insights spread across 204 pages with 110 Market data tables and figures & charts from the report on the “Global Tetrabromobisphenol A Market Size, Share, and COVID-19 Impact Analysis, By Grade (Experimental Grade, Industrial Grade), By Application (PCB or Laminates, Consumer Electronics, Flame-Retardants, Plastic Additives, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The industrial grade segment is predicted to hold the largest market share through the forecast period.
Based on the grade, the tetrabromobisphenol A market is classified into experimental grade and industrial grade. Among these, the industrial grade segment is predicted to hold the largest market share through the forecast period. This dominance reflects increased demand for industrial-grade TBBPA in industries such as electronics, construction, and automotive, which require flame retardant characteristics.
The consumer electronics segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the tetrabromobisphenol A market is divided into PCB or laminates, consumer electronics, flame-retardants, plastic additives, and others. Among these, the consumer electronics segment is anticipated to hold the highest market share during the projected timeframe. TBBPA is commonly used as a reactive retardant, with its main application in electrical components. Technical developments and the introduction of smart gadgets are predicted to be the primary drivers of growth during the projected period. The rising demand for large-screen gadgets known as 'phablets' promises huge growth opportunities.
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Asia Pacific is estimated to hold the largest share of the tetrabromobisphenol A market over the forecast period.
Asia Pacific is estimated to hold the largest share of the tetrabromobisphenol A market over the forecast period. Asia Pacific commonly participates in chemical markets such as tetrabromobisphenol-A due to its strong industrial basis and manufacturing skills. APAC is likely to remain one of the world's largest and most rapidly expanding electronics markets. Large and developed markets like as China, India, Japan, and South Korea are expected to expand further in the coming years.
North America is predicted to have the highest CAGR growth in the tetrabromobisphenol A market over the forecast period. This expansion is fueled by severe laws requiring flame retardants in areas such as electronics and construction. Technological advances in product compositions and increasing market demand across sectors such as electronics and automobiles are other important factors.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the tetrabromobisphenol A market include Albemarle Corporation, Jordan Bromine Company, Shandong Moris, Shandong Brothers Sci. & Tech, Kingboard Holdings Limited, LANXESS, Tianjin Changlu Hangu Co., Ltd., Noval Chem, Greeenchemicals S.r.l., Shandong Futong Chemicals, ICL Group, and Others.
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Recent Developments
- In March 2024, The European Food Safety Authority's (EFSA) Unit on Feed and Contaminants launched a public consultation on the draft scientific opinion updating the risk assessment of tetrabromobisphenol A (TBBPA) and its derivatives in food.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the tetrabromobisphenol A market based on the below-mentioned segments:
Global Tetrabromobisphenol A Market, By Grade
- Experimental Grade
- Industrial Grade
Global Tetrabromobisphenol A Market, By Application
- PCB or Laminates
- Consumer Electronics
- Flame-Retardants
- Plastic Additives
- Others
Global Tetrabromobisphenol A Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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