COVID19 Impact on Flame Retardant Market Size and Growth Forecast till 2027 | Top Players: THOR SPECIALITIES (UK) LIMITED, ITALMATCH CHEMICALS S.P.A., Huber Engineered Materials, Kisuma Chemicals B.V., Nabaltec AG, Dow, AkzoNobel, BASF, ICL Group, The Lub

The global Flame Retardant Market is expected to rise at a CAGR of 5.9% to reach USD 11,175.9 million by the end of 2027 on account of the increasing fire safety regulations adopted by various end-user industries worldwide. Flame retardants are chemicals added to flammable materials such as plastic, coatings, textiles, and others to prevent fire incidents. Flame retardants are also added to products such as electric wires, computers, mattresses, foams, automobile parts, and others for protection against fire. A recently published report by Fortune Business Insights, titled, “Flame Retardant Market Size, Share & Industry Analysis, By Chemistry (ATH, Brominated, Antimony Oxides, Chlorinated, Phosphorous Compounds, and Others), By End User (Automotive, Construction, Wire & Cable, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2020-2027,” states that the market value was USD 7,091.2 million in the year 2019 and is expected to rise remarkably in the forecast period set between 2020 to 2027. We are all going through difficult times due to the current coronavirus pandemic. Most businesses are temporarily closed as the governments of various nations imposed lockdown measures to protect people from the COVID-19 epidemic. Research and development activities on the invention of an antidote to fight coronavirus are still in its nascent stage. The world economy is facing a significant drawback due to business halt.
Special reports on various markets affected by the coronavirus pandemic are provided by Fortune Business Insights. We aim at guiding the investors to offer complete evaluations of the market, current situation, and prospects so that they can accordingly chalk out plans to gain maximum revenue in the near future.

Get Sample PDF Brochure with “Short-Term and Long-Term Impact of COVID-19” on Market, Please Visit: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/flame-retardants-market-102909

Market Drivers & Restraints-
Increasing Consumption of Brominated Compounds in Products to Boost Growth
The imposition of stringent regulations on fire safety stands as a significant flame retardant market growth driver. This, coupled with the rising consumption of brominated compounds in products, will also aid in the expansion of the market. Additionally, the development of innovative and effective synergists will boost the market in the coming years.
However, the rising health and environmental concerns that imposed restrictions on the use of conventional fire retardant products may hamper the market growth. Nevertheless, the imposition of fire safety norms has propelled various end-user product manufacturers to utilize flame retardants in their products, thereby creating lucrative growth opportunities for the market in the coming years.

Regional Analysis-
Asia Pacific Emerged Dominant Accountable to Increasing Construction Activities
Asia Pacific accounted for the largest flame retardant market share in 2019 with a revenue of USD 3,173.7 million. This is owing to the presence of prominent electronics production industries and an increasing number of construction activities occurring in the region. On the other hand, the market in North America will rise remarkably in the coming years on account of the stringent regulations imposed mandatorily on fire safety in all end-products. Furthermore, the Europe market will exhibit significant growth in the coming years on account of the rising use of flame retardant products by the automotive industry.

To Gain More Insights into the Market with Detailed Table of Content and Figures: https://www.fortunebusinessinsights.com/flame-retardants-market-102909

Competitive Landscape-
Companies Investing Heavily on Innovative Product Development

Most of the global flame retardant market manufacturers are engaging in the development of product innovation and development, and are therefore investing heavily in the same. The others are focusing on manufacturing halogen-free flame retardants for gaining a significant position in the market.

Major Industry Developments of the Market for Flame Retardant include:
September 2020 – A leading producer of bromine and bromine-based products called ICL Group is increasing its production capacity by 50% for applications in the automotive industry.

Some of the Key Players of the Flame Retardant Market include:
• Thor (UK)
• Italmatch Chemicals S.p.A. (Italy)
• Huber Engineered Materials (United States)
• Kisuma Chemicals (Netherlands)
• Nabaltec AG (Germany)
• Dow (United States)
• Akzo Nobel N.V. (Netherlands)
• BASF SE (Germany)
• ICL Group (Israel)
• Lubrizol Corporation (United States)
• Clariant (Switzerland)
• LANXESS (Germany)
• Others

Quick Buy – Chemicals Flame Retardant Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102909

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

This release was published on openPR.