Flame Retardants Market Key Trends, Share And Forecast 2024-2033

The flame retardants market size has grown strongly in recent years. It will grow from $7.94 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to consumer goods manufacturing, safety concerns in transportation, awareness of fire hazards, electronics industry growth, stringent fire safety regulations.

The flame retardants market size is expected to see strong growth in the next few years. It will grow to $10.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rapid urbanization, increasing electronic device usage, demand for environmentally friendly flame retardants, global efforts to reduce fire incidents. Major trends in the forecast period include advancements in nanotechnology, demand in automotive applications, collaborations for research and development, consumer awareness and product labeling, use in textiles and upholstery, global expansion and market penetration.

Market Overview -
Flame retardants are chemicals used to treat combustible materials in order to either prevent fires from starting or retard the spread of existing fires and increase the amount of time for escape. Flame retardants give customers an essential layer of fire protection and can be crucial for lowering the hazards associated with fire.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8141&type=smp

Flame Retardants Market Set To Surge Driven By Soaring Demand For Electronic Products
The increasing demand for electronic products will drive the flame retardants market going forward. 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. For instance, according to the India Brand Equity Foundation (IBEF), an Indian Government export promotion agency, a 30% year-on-year growth in electronics manufacturing is anticipated between 2020 and 2025. It will result in a rise in output of $163.14 billion. Therefore, increasing demand for electronic products will lead to an increase in demand for flame retardants.

Competitive Landscape -
Major companies operating in the flame retardants market report are BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A., Nabaltec AG, Du Pont de Nemours and Company, Koninklijke DSM NV, Israel Chemicals Limited, Budenheim Chemicals KG, Eastman Chemical Company, Hangzhou Lingrui Chemical Company Limited, Hongbaoli Group Company Limited, Huntsman International LLC, Apexical Inc., Daihachi Chemical Industry Co. Ltd., DIC Corporation, Dow Chemical Company, Nyacol Nano Technologies Inc., Rinkagaku Kogyo Co. Ltd., RTP Company, Sanwa Chemical Co. Ltd., Shandong Brother Sci. & Tech. Co. Ltd., Tor Minerals International Inc., Tosoh Corporation, UFP Industries Inc., Lubrizol Corporation, Akzo Nobel NV, Broadview Technologies Inc., Chemtura Corporation, Clariant International Ltd., Rio Tinto Group Corp., Sinopec Shanghai Petrochemical Company Limited

Innovative Trends Ignite Growth Flame Retardants Market Surges With Cutting-Edge Product Developments
Product innovations have emerged as the key trend gaining popularity in the flame retardants market. 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.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/flame-retardants-global-market-report

Key Segments -

The flame retardants market covered in this report is segmented -

1) By Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
2) By Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics And PET)
3) By End User: Construction, Automotive and Transportation, Electronics, Other End-Users (Textiles, Aerospace, And Adhesives)

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

"Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

"Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.