Flame Retardants Market Driven By Increasing Fire Incidence In Emerging Countries Across The Globe | CAGR Of 6.2%
Flame retardants basically is a chemical that is added into raw materials of multiple products to reduce or prevent start of the fire. There are various types of flame retardants for wide range of applications. They are majorly used in raw materials in production of finished such as furnishing, electronics, automotive, and others.
The global flame retardants market estimated to value at around US$ 16 Bn in 2019, and is expected to register a CAGR of 6.2%. The first five-year cumulative revenue (2018–2022) is projected to be US$ nearly 85 Bn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
Global Flame Retardants Market: Market Dynamics
Increasing rules and regulation associated with the fire safety of various electronic appliances and plastic materials among emerging countries is a key factor expected to drive growth of the global market during the forecast period.
Governments across the globe are taking various initiatives to implement and increase safety standards of various wood and mechanical products for smoke and flammability range, these standards are expected to contribute high revenue and boost growth of the global market in the near future.
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Increasing use of the flame retardants by the automotive manufacturers to reduce the combinations probability, to increase the engine sustainability, and to increase the temperature tolerance coupled with increased threshold of the combustion parts is among major factor expected to fuel growth of the global market over the forecast period.
However, utilization of halogen free flame retardants that alter properties of final products with high loading levels and increasing stringent rules and regulations associated with the volatile organic compound (VOC) emission by raw materials are major factors expected to hamper growth of the global market to a certain extend.
Nevertheless, increasing development of effective synergist compounds and emerging technologies such as nanotechnology in flame retardants are major factors expected to create significant revenue opportunities for players in the global market.
Global Flame Retardants Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global flame retardants market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global flame retardants market is estimated to expand at a CAGR of 6.2% during the forecast period.
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Global Flame Retardants Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, end user, and region. The type segment includes alumina trihydrate, antimony trioxide, brominated flame retardants, chlorinated flame retardants, phosphorous flame retardants, and others. By application segment includes polyolefin, epoxy resins, PVC, and other. By end user segment includes construction, electronic, aerospace, automotive, and others. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By type: The alumina trihydrate segment accounted for highest revenue share contribution and expected to account for over CAGR of 6.1% is expected over the forecast period.
By application: The epoxy resins segment accounts for major share in terms of revenue in the global market and is expected to account for over CAGR of 6.1% over the forecast period.
By end user: The automotive segment accounts for major share in terms of revenue in the global market and is expected to account for over CAGR of 6.2% over the forecast period.
By Region: The market in Asia Pacific accounted for a CAGR of over 6.2 % in the global flame retardants market
Global Flame Retardants Market: Competitive Analysis
The research report on the global flame retardants market includes profiles of some of major companies such as DowDuPont Inc., BASF SE, LANXESS Aktiengesellschaft, Nabaltec AG, ICL Industrial Products, Akzo Nobel N.V., Albemarle Corporation, and Clariant AG
The Global Flame Retardants Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global flame retardants market for 2017–2027.
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