Press release
Global Flame Retardants Market Research Report 2023
Flame Retardants Market Statistics 2029The global Flame Retardants market was valued at US$ 6592.5 million in 2022 and is anticipated to reach US$ 8262.7 million by 2029, witnessing a CAGR of 2.8% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Key drivers of the flame retardants market include the growing awareness of consumer safety and use in everyday electronic items.
The demand for efficient transport systems and the rising automobile industry will fuel the growth of the flame retardants market during the forecast period.
The extensive use in the construction industry for fire-resistant materials will surge the growth prospects of the industry in the coming years.
Flame retardants are added to various consumer goods to prevent fire risks will further augment the growth of the market.
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Global Flame Retardants Market Trends
Electronics and electrical industry
Everyday electronics have become a necessity in today's world. Digitization and penetration of the internet have spurred the use of consumer electronics. The plastic casings of electrical devices like TVs, smartphones, laptops, tablets, computers, and gaming systems are manufactured with flame retardants to reduce risks of ignition and spreading of fire thereby giving ample time for people to move out and emergency personnel to respond quickly. It is highly effective in preventing sparks, overheating, smoke, melting, or short circuits. These factors will drive the growth of the flame retardants market in the forthcoming years.
Transport and automotive sector
Electric vehicles and efficient transportation infrastructure are the need of the hour for combating climate change. Flame retardants are a viable solution for making lightweight, durable, and flexible cars that reduce fuel consumption. The high-energy electric components like batteries, cables, and connectors provide real fire threats. Retardants provide low flammability and less smoke production for safer evacuation. Such factors will boost the growth of the flame retardants market during the forecast period.
Construction industry
Fire-resistant buildings are important for saving the lives of occupants and providing efficient fire protection. Flame retardants are used in electrical wiring, cables, and in the insulation of walls, and ceilings. Structural elements like concrete, plaster, wood, and steel parts are coated with paints that contain flame retardants. All such measures are put into place to construct safe residential or office buildings. This is going to drive the growth of the flame retardants market in the subsequent years.
Manufacturing consumer goods
Recurring durable goods such as furniture, upholstery, mattresses, carpets, curtains, and fabrics are applied or added with flame retardants to decrease their chances of igniting and catching fire. These widespread applications will thereby propel the growth of the flame retardants market in the coming years.
Flame Retardants Market Share Analysis
Based on type, the ATH segment will provide lucrative opportunities for growth in the flame retardants market share due to its smoke suppressing and retardant features making it suitable for use in various end-user industries.
Based on application, the electrical and electronics segment is expected to maintain dominance in the flame retardants market share owing to huge applications in plastic casings of electronic products.
Based on region, Asia-Pacific is expected to witness significant growth in the flame retardants market share due to stringent regulations regarding fire safety and increasing use in several end-user industry verticals.
Flame Retardants Market By Type
ATH
Antimony Oxide
Brominated
Chlorinated
Phosphorous
Flame Retardants Market By Application
Electrical & Electronics
Transportation
Construction
Consumer Goods
Automotive
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and production data of each region and country for the period 2016-2027. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region. North America, Europe, China and Japan are the major regions studied in the research report.
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Competitive Scenario
In this section, the readers will gain an understanding of the key players competing. The experts have studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and production by manufacturers for the period 2016-2021. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Flame Retardants Market By Companies
Albemarle
ICL
Lanxess
Clariant
The Dow Chemical Company
Nabaltec AG
Lanxes AG
Italmatch
Huber Engineered Materials
Akzo Nobel
SIMILAR REPORT
https://reports.valuates.com/market-reports/QYRE-Auto-10K5317/global-bdp-flame-retardants
https://reports.valuates.com/market-reports/QYRE-Auto-39F7466/global-and-united-states-textile-flame-retardants
https://reports.valuates.com/market-reports/QYRE-Auto-4U7612/global-and-china-antimony-trioxide-flame-retardants
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