Global Flame Retardants Market: Key Highlights
Global Flame Retardants Market: Key Market Dynamics
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Global Flame Retardants Market: Regional Overview
The market in Asia-Pacific accounted for the largest market share in 2019, on account of the high consumption of flame retardants from major end-use industries. Expanding construction, electronics, and automotive industries in this region are the prime consumers. According to Invest India, the construction market in India is expected to emerge as the third-largest globally by 2025. The Indian government plans to invest USD 1.4 trillion in infrastructure projects in the coming 5 years.
European region is likely to witness high demand for non-halogenated flame retardants owing to the stringent environmental regulations such as the REACH, RoHS, WEEE directives, and others. The demand is supported by the high production & sales of automotive components in countries such as Russia, France, and others.
Global Flame Retardants Market: Key Players Overview
Nabatec AG is engaged in providing flame retardant fillers and special oxides. It provides a wide range of products such as Aluminum hydroxide, boehmite, magnesium hydroxide, ceramic bodies, among others. In June 2018, the company expanded its operations in Tennessee, US by constructing a production plant for refined hydroxide with a capacity of about 30,000 tons per year. This expansion was the company’s strategy to expand its product portfolio for halogen-free flame retardants.
Lanxess is a leading specialty chemicals company and operates through the following segments, advanced intermediates, specialty additives, performance chemicals, and engineering materials. The company has 57 production sites and operates in more than 33 countries. In December 2018, the company announced plans to invest around USD 229 million in strengthening its global asset base for flame retardant additives over the next three years.
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