by Tetrabromobisphenol A, commonly known as TBBPA, is a brominated flame retardant that is widely utilized in printed circuit boards due to its ability to suppress ignition and slow down fire spreading. It finds extensive usage in electronic goods like computers, televisions, and smartphones. The global demand for consumer electronics has witnessed robust growth in recent years on account of rising disposable incomes, expanded internet penetration, and growing popularity of smart devices among individuals. Subsequently, manufacturers engaged in electronics sector are increasingly incorporating TBBPA into circuit boards to reduce the risk of short circuits and fires.
The global Tetrabromobisphenol A Market is estimated to be valued at US$ 1407.97 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Growing Demand from Emerging Economies
The key trend propelling the tetrabromobisphenol A market growth is expanding demand from emerging economies in Asia Pacific and Latin America. These economies are witnessing rapid industrialization and urbanization along with rising disposable incomes. This has substantially driven the sales of consumer goods like computers, televisions, and smartphones in these regions. Since tetrabromobisphenol A acts as a crucial flame retardant in circuit boards, its consumption is augmenting concurrently to the growth in electronics sector of developing nations. Additionally, favorable government regulations and initiatives encouraging local manufacturing of electronics will continue to supplement the demand for TBBPA in emerging markets over the coming years.
SWOT Analysis
Strength: Tetrabromobisphenol A is an excellent flame retardant with high flame retardancy and heat resistance properties.
Weakness: Health and environmental concerns regarding biomonitoring, biodegradation, and toxicity. Regulations banning its usage in various applications.
Opportunity: Growing use of plastics, electronics and construction industries drives the demand. Expanding applications in printed circuit boards and insulation foams.
Threats: Imposition of stringent regulations limiting its use. Development of alternative flame retardants and green substitutes.
Key Takeaways
The Global Tetrabromobisphenol A Market Analysis is expected to witness moderate growth. The global Tetrabromobisphenol A Market is estimated to be valued at US$ 1407.97 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global market and is expected to witness the fastest growth over the forecast period due to high growth in end-use industries such as electronics, construction and automotive in countries such as China, India and Japan. North America and Europe are also sizable markets supported by the need for fire safety requirements in infrastructure and building codes.
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. The major players are focusing on geographical expansion and new product development strategies to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
