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Flame Retardants Market 2023 - Industry Analysis, Business Trends, Key Players, Growth Opportunities And Outlook By 2032
Flame Retardants Market
The Business Research Company's Flame Retardants Global Market Report 2023 identifies increasing demand for electronic products as the major driver for the Flame Retardants market's growth in the forecast period. The demand for electronics is rising due to technological advancements, fast replacement cycles, growing disposable income, and changing consumer preferences. During manufacturing, flame retardants are chemically adhered to the circuit boards of electronics, preventing any chemicals from leaching into the environment or potentially harming users' health.
The global flame retardants market size is expected to grow from $7.49 billion in 2022 to $7.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flame retardants market size is expected to grow to $10.13 billion in 2027 at a CAGR of 6.1%.
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Major competitors in the Flame Retardants market are Clariant AG, Lanxess AG, BASF SE, ICL Group Limited, Albemarle Corporation, Huber Engineered Materials, Italmatch Chemicals SPA, Nabaltec AG.
A key trend in the Flame Retardants market includes product innovations. Major companies operating in the flame retardants sector are focused on developing innovative products to meet customer demand. For instance, in November 2021, Italmatch Chemicals S.p.A., an Italy-based flame retardants company, launched "Liquid Masteret," a new phosphorus-based flame retardant. The business introduced its concentrated mixtures of micro-encapsulated and stabilized red phosphorus (RP). The product is utilized in the transportation, electrical & electronics, and construction industries, particularly when halogen is not recommended because of the very corrosive smoke it produces in the event of a fire.
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The Flame Retardants market is segmented -
• By Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
• By Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics and PET)
• By End User: Construction, Automotive and Transportation, Electronics, Other End-Users (Textiles, Aerospace, and Adhesives)
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Flame Retardants market.
The Business Research Company's "Global Flame Retardants Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Flame Retardants Market Include:
1. Executive Summary
2. Flame Retardants Market Characteristics
3. Flame Retardants Market Trends And Strategies
4. Flame Retardants Market - Macro Economic Scenario
5. Flame Retardants Market Size And Growth
………………………………..
26. Africa Flame Retardants Market
27. Flame Retardants Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Flame Retardants Market
29. Flame Retardants Market Future Outlook and Potential Analysis
30. Appendix
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