According to the recent research report titled ‘Global Low Smoke Halogen free flame Retardant Polypropylene Market by End-user Industry (Automotive, Building and Construction, Electrical and Electronics, and Other End-user Industries), Regional Forecasts 2021-2027’, available with MarketStudyReport, global low smoke halogen free flame retardant polypropylene market stood at USD 500 million in 2020 and is projected to register 7.5% CAGR over 2021-2027, subsequently reaching a valuation of USD 829.5 million by the end of the forecast period.
 

As per the report findings, global low smoke halogen free flame retardant polypropylene industry growth is primary driven by surging demand for wires and cables applications. Furthermore, there is an increase in requirement for electronics and other consumer products, as well as an increase in health and safety concerns.
 

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For the unversed, polypropylene is a halogen-free, low-smoke flame retardant polymer with outstanding fire resistance. Retardant polypropylene is in high demand in the building industry due to its environmental benefits. It also reduces costs and fuel consumption associated with vehicles.
 

Speaking of restraints, declining automotive production is likely to hamper the remuneration scope of the industry over the study period.
 

Coming to geographical ambit, Europe, North America, Asia Pacific, and Latin America are the major regions studied for the regional assessment of the overall market.
 

Asia Pacific currently accounts for major portion of global low smoke halogen free flame retardant polypropylene market revenue owing to flourishing construction and automotive industry. China is slated to generate strong returns for the industry as the country’s building and construction sector investment is thriving due rising disposable income and expanding industrial capacity.
 

Moreover, the Chinese government wants 5,000 fuel cell electric vehicles on the road by 2025, and a million by 2030. The government's encouragement of electric, hybrid, and fuel cell electric cars is expected to drive regional market growth during the projection period.
 

Latin America industry will also gain considerable traction, as the Mexican government doubled its annual infrastructure spending and established a National Infrastructure Plan to raise approximately USD 550 billion in investments over the next several years.
 

Coming to competitive terrain, Borealis AG, Merick Polymers Co. Ltd., Avient Corporation, Kowa Kasei Co. Ltd., LATI Industria Termoplastici S.p.A., Axipolymer Incorporation, Dongguan Hengjia Plastic Technology Co. Ltd., Polyrocks Chemical Co. Ltd., RTP Company, and Teknor Apex Company are the leading organizations operating in global low smoke halogen free flame retardant polypropylene market sphere.