The Halogen-free Flame Retardant BOPET Films Market size is projected to grow from USD 9 million in 2021 to USD 13 million by 2026, at a CAGR of 7.5%. The halogen-free flame retardant BOPET films market is witnessing growing demand from end-use industries such as electrical insulation, transportation, and building & construction. Its growth is attributed to stringent government rules against the toxicity of halogenated flame retardants and strict fire-safety guidelines.
The halogen-free flame retardant BOPET films market is segmented on the basis of end-use industry into electrical insulation, transportation, and building & construction. The electrical insulation segment accounted for the largest share in the global halogen-free flame retardant BOPET films market during the forecast period. The increase in manufacturing of wires & cables and rising demand for high quality consumer electronics will drive the market. Halogen-free flame retardant BOPET films are used for insulation applications in motor winding, transformers, television screen films, battery labels, flexible printed circuits, wires & cables (secondary insulation), and semiconductors. Moreover, halogen-free flame retardant BOPET films are used to match the level of fire resistance that must be achieved based on the fire safety standards. This growth factor is expected to be driven by rapid expansion in solar energy, wind energy, telecommunication, and other end-use industries.
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APAC is projected to be the largest market for halogen-free flame retardant BOPET films during the forecast period and is projected to register the highest CAGR. The high economic growth in developing countries and increasing disposable incomes have made APAC an attractive market for halogen-free flame retardant BOPET films. The tremendous growth of industrial production increased trade, and the implementation of stringent regulations are primarily responsible for the high consumption of halogen-free flame retardant BOPET films in the region.
China, Japan, South Korea, and India are the major markets for halogen-free flame retardant BOPET films in the region. Government regulations are being set up regarding the use of these films in APAC countries, which will boost the market during the forecast period. The market in this region is primarily driven by the demand from the electrical & electronics industry and the growing economy.
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