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:
One of the key trends in the Tetrabromobisphenol A market is the growing demand from the Asia Pacific region. Countries like China, India, Taiwan, and South Korea have emerged as major manufacturing hubs for electronic goods. With rising disposable incomes, the demand for consumer electronics is surging in the Asia Pacific. This will significantly drive the need for TBBPA in PCBs and various other applications. Furthermore, governments in the region are also implementing stricter fire safety regulations for electronic devices, boosting the consumption of flame retardants like TBBPA.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established suppliers in the market make entry difficult for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and supply from numerous global suppliers.
Bargaining power of suppliers: A few leading companies dominate the supply and have moderate bargaining power over buyers.
Threat of new substitutes: Emergence of alternatives like brominated flame retardants poses threat of substitution.
Competitive rivalry: Intense competition exists among the key manufacturers to gain higher market share.
Key Takeaways
The Global Tetrabromobisphenol A Market Analysis is expected to witness high 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 accounts for more than half of the global Tetrabromobisphenol A market share owing to presence of leading manufacturers. China dominates the Asia Pacific market and accounts for over 35% market share attributing to presence of cost-effective raw materials and labor. Rising demand from industries like electronics and construction in developing economies like India and Southeast Asian countries is further driving the regional market growth.
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. Adoption of sustainability initiatives by major players and focus on innovative applications is expected to drive the market growth over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it