The latest market report published by Credence Research, Inc. “Flame Retardant Chemicals Market, By Type (Alumina Trihydrate, Antimony Trioxide, Phosphorus Flame Retardants, Brominated Flame Retardants and Others (boron compounds, chlorinated flame retardants etc,), Application (Automotive, Construction, Textile, Electronics, Aerospace, Paints & Coatings, Packaging and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global flame retardant chemicals market is expected to grow at a CAGR of 6.4% over the forecast period from 2017 to 2025
Increasing concerns regarding human health due to use of toxic halogenated flame retardant chemicals coupled with increasing awareness towards environmental protection has resulted in the ban of several halogen based flame retardant chemicals. The legislations imposed on the ban of toxic flame retardant chemicals are driving the demand for non-halogenated flame retardant chemicals across the globe. Increasing use of polymers in several end use industries such as electrical, automotive, electronics and construction has in turn increased the risk of fire mishaps. Thus, increasing use of flame retardant chemicals for contradicting such mishaps will bring impetus in the overall demand. Also, increasing investments in the automotive and construction industry especially in Asia Pacific region coupled with strict regulations regarding fire safety are anticipated to propel the market growth.
Also, with the rapid growth of the global population as well as increasing purchasing power in developing economies such as South Korea, India, China and other ASEAN countries has bolstered the demand for construction and infrastructural projects such as shopping malls, recreational centers, high-rise buildings and sophisticated healthcare centers. This is leading to a high demand for flame retardant chemicals.
Browse the full Flame Retardant Chemicals Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/flame-retardant-chemicals-market
The global flame retardant chemicals market is witnessing a steady growth owing to increasing demand from automotive and construction industries coupled with rapid growth of the electronics industry in the developing regions. Some of the major players operating in the global flame retardant chemicals market include The Dow Chemical Company, Lanxess AG, BASF SE, Albemarle Corporation, Dover Corporation, Clariant Corporation, Akzo Nobel N.V., Nabaltec AG, Broadview Technologies Inc. and ICL Industrial Products among others.
- Increasing production of automobiles
- Increasing demand for flame retardant chemicals in consumer electronics
- Increasing regulations by governments regarding fire safety