Market Overview
Phenoxy Cyclophosphazene has various uses as an additive-tip fire retardant or halogen-free fire retardant in copper-clad plate, epoxy resin, powder paint, LED luminous diode, encapsulating material, or polymer material. Major factors contributing to the growth of the market include the growing construction of new buildings and restoration projects that have led to demand for Phenoxy Cyclophosphazene is they are used in manufacturing paints. Phenoxy Cyclophosphazene is mainly used in manufacturing epoxy resins that are used in electronic devices and several other industrial applications due to their versatile nature. Additionally, the demand for Phenoxy Cyclophosphazene is high as it is a cost-effective solution compared to the other halogen-free fire-retardant products available in the market.
Key Trends
- One major trend Credence Research Inc. is expected to see in the Phenoxy Cyclophosphazene market is its increased adoption of paints that have Phenoxy Cyclophosphazene in the construction industry. Moreover. It also has high demand in electronic sectors owing to its halogen-free fire-retardant properties.
- Another trend that Credence Research Inc. predicts will continue in the Phenoxy Cyclophosphazene market is its increasing focus on research and development activities such that they are more resistant to UV light. Such innovations are expected to expand Phenoxy Cyclophosphazene applications and bolster market growth during the forecast period.
Economic Impact Analysis
Various Industries have started to suffer as the economy slows down owing to socioeconomic factors. The Phenoxy Cyclophosphazene market report, 2022-2028, considers the market’s predicted economic downturn due to the energy crisis, raw material cost fluctuation, and labor shortage in the manufacturing sector.
- Recession
According to the Credence Research Inc. market report, the recession will significantly impact the global Phenoxy Cyclophosphazene market. The world bank has anticipated that in 2023 there will be a recession in many countries as the interest rates by the central banks are spiked. In 2023, GDP growth is anticipated to grow at 1.7%, the slowest pace of the recession since 1993. It has been anticipated that the slowdown will be noticed in advanced/developed economies such as the United States. Moreover, business investments have lower and are forecasted to grow at a 3.5% rate during the coming two years, which is less than half of the rate of the past two decades. Such factors are anticipated to cause a recession. Regions such as the U.S. The UK, Germany, and others are already facing the impacts in the downturn of their economies.
- Ukraine-Russia War Impact
The Russian invasion of Ukraine has led to a crisis globally, however higher in European countries. The Phenoxy Cyclophosphazene markets have suffered a significant loss in European revenues due to Russia’s unlawful and unprovoked conflict with Ukraine. Since Russia and Ukraine are major exporters of oil & gas in the European region and some countries in Asia. This led to the rise of the energy crisis. The major impact of the war was noted in the manufacturing industry as the cost of raw materials spiked.
Moreover, shutting down manufacturing plants in this region also led to a shortage of these raw materials. Such factors have led to major issues in the industry. To overcome these, countries are trying to reduce the demand for these products from one particular country. However, this is anticipated to happen over a period of time.
- China COVID Outburst December 2022
The current situation of COVID-19 in China is expected to hit the Phenoxy Cyclophosphazene market adversely in 2023. As the number of cases is rising, the manufacturing industries are suffering as the workers are being tested positive, which has led to a shortage of workers. Moreover, as there is a labor shortage, the delivery time for already placed orders is getting delayed. This has led to a shortage of various products in the market, and in turn, the prices of these products are spiked. The import & export was also affected owing to disruption in the supply chain as the manufacturing sector was majorly impacted by COVID-19. Furthermore, this is not just the situation in China. Many governments are imposing restrictions to prevent the spread of COVID-19.
Regional Analysis
In 2022, the greatest revenue share in the Phenoxy Cyclophosphazene market was attributed to Asia Pacific. High demand for the product in the region is due to the emergence of multiple producers of electronic devices and parts, particularly in China, Japan, and India. Moreover, increasing demand for epoxy resins used for various industrial applications is also fuelling market growth. Besides increasing the need for homes and construction projects, the rapidly growing population also increased the demand for paints. This boosted the demand for Phenoxy Cyclophosphazene in the market. Besides, North America is accounted to grow at the fastest growth rate during the forecast period. Increasing construction projects and increasing use in the automotive sector are fuelling the demand for Phenoxy Cyclophosphazene in this region. The presence of players such as Dupont and increasing initiatives taken by the company for ramping up the manufacturing of epoxy resins are also propelling the market growth in this region.
STAR Analysis
- Situation
Our client was researching the use of Phenoxy Cyclophosphazene for manufacturing various products. They wanted to advance the product such that the applications could be enhanced.
- Task
The client wanted to understand the current uses and which industries have a high demand for this product. They were also focused on what research was currently ongoing using Phenoxy Cyclophosphazene such that they were able to focus on the research further using Phenoxy Cyclophosphazene.
- Action
The client got in touch with Credence Research Inc., which assisted the client in understanding the overall market scenario of Phenoxy Cyclophosphazene. The report “Global Phenoxy Cyclophosphazene Market, 2023-2030,” published by Credence Research Inc. in 2023, thoroughly analyzes the end-use industries where Phenoxy Cyclophosphazene is most frequently used. Additionally, it provided the client with a thorough analysis of the trends for its application. They also provided the areas where the use of Phenoxy Cyclophosphazene was being studied.
- Result
Credence Research Inc.’s thorough analysis report of the Phenoxy Cyclophosphazene market assisted the client in understanding the market trends and the ongoing research using Phenoxy Cyclophosphazene.
