The Global Sustainable Growth of the Tetrabromobisphenol A Market Opens New Avenues
The Tetrabromobisphenol A Market is estimated to be valued at US$ 1,278.78 Mn in 2022 and is expected to exhibit a CAGR of 5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis:
· Strength: High flame retardant efficiency of TBBPA makes it a preferred solution in end-use industries.
· Weakness: Health and environmental concerns regarding TBBPA exposure.
· Opportunity: Growing electronics and building construction sectors in emerging nations presents an opportunistic market.
· Threats: Stringent regulations and availability of alternative flame retardants are threats to market growth.
Key Takeaways:
The Global Tetrabromobisphenol A market Growth is expected to witness high growth, exhibiting CAGR of 5% over the forecast period, due to increasing demand for flame retardants from rapidly expanding electronics industry.
Regional analysis: Asia Pacific dominates the global TBBPA market and is projected to grow at the fastest rate during the forecast period. The growth in the region can be attributed to the presence of end-user industries such as electronics and construction industries particularly in China, India, Japan and other developing Asian countries.
Key players: Key players operating in the Tetrabromobisphenol A market are 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.
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