Asia-Pacific Region To Be The Key Consumer For Flame Retardants Market

Flame Retardants Market Size, Share, Trends, Growth, Analysis, Research

Global Flame Retardants Market: Key Highlights

  • According to the new market research report Flame Retardants Market by Type (Halogenated, Non-halogenated), by Resin (Polyethylene, Polypropylene, Epoxy), by End-User (Building & Construction, Electrical & Electronics), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global flame retardants market is expected to be valued at USD 15.5 billion at a CAGR of 6% during the review period.
  • Various government regulations and guidelines for the prevention of fire outbreak is expected to drive the demand for flame retardants
  • Efforts from various manufacturers to prevent and avoid mishaps related to fire are likely to have a positive influence on the market
  • Players in the global flame retardants market have a global reach, brand name, and vast range of products
  • Flame retardants such as silicone resins, aluminum trihydrate, ammonium polyphosphate can be used in biopolymers as well
  • Halogen-free flame retardants are expected to grow at a higher CAGR as they emit less smoke with few toxic components
  • The escalating demand for biopolymers on account of the declining use of petroleum-based fuel is likely to bring in significant opportunities

Global Flame Retardants Market: Key Market Dynamics

  • Rapid industrialization and urbanization in emerging economies across the globe is projected to fuel the construction activities
  • High disposable income of the consumers have resulted in higher spending in the renovation as well
  • Extensive use of polymers in transportation systems necessitates the usage of flame retardants
  • Exposure to flame retardant chemicals may cause serious health effects in humans and animals, which is a major restraining factor

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Global Flame Retardants Market: Regional Overview

  • Asia-Pacific

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.

  • Europe           

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

  • Nabaltec AG:

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:

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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Rep Id : CM 054

Published : 2020-01-30

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