Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Global Flame Retardants Market Overview:
Market Research Future (MRFR) studied the Global Flame Retardants Market can expand at 6.76% CAGR. On the conclusion of the forecast tenure, the worldwide flame retardants market can value at USD 12,931.5 Mn.
Expansion of Construction Sector to Determine Market Growth
The Flame Retardants Market can witness considerable rise in the assessment period due to the large-scale utility of the product. The increase in application of flame retardant across diverse end-use industries, such as; transportation, building and construction, textile, electronic devices, and consumer goods can contribute to the market upsurge. The increase in construction activities across emerging countries as governments investment in different infrastructural development projects and commercial constructions can favor the market rise. The escalation of per capita spending of different individuals can promote the market growth in the years to come. Besides, the surge in cases of fire incidents resulting in the enforcement of improved safety standards regarding Flame Retardants in the construction sector can also improve momentum of the flame retardants market.
Automobile Sector to Influence Flame Retardant Market
The rise in demand for plastic components in the growing automotive sector to decrease weight of vehicle can fueled the Flame Retardants Market upsurge. As plastics are highly susceptible to fire, Flame Retardants are integrated into automotive seats, and other interior parts of vehicle. On the contrary, increase in stringency in regulations on the enforcement of conventional flame retardants can hinder the market upsurge in the years to come. However, the growing utility of recyclable halogen-free Flame Retardants and surge in plastic manufacturing can bring lucrative opportunities for the worldwide Flame Retardants Market in the evaluation period.
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Market Segmentation:
The Segment Study of the Global Flame Retardants Market is done by Application, Type, and Resin.
Non-Toxic Halogen Free Flame Retardants to Witness High Sales
The Type-Based Segments of the Global Flame Retardants Market are halogenated Flame Retardants and non-halogenated retardants. The non-halogenated segment can hold over 60% of the worldwide market by 2025. The segment can thrive at 7% CAGR in the analysis period due to increase in preference for people towards non-toxic halogen free Flame Retardants. In addition, the enforcement of stringent regulations on different conventional Flame Retardants can also boost the segment.
The Resin-Based Segments of the Global Flame Retardants Market are polypropylene, polyethylene, epoxy, polyvinyl chloride, unsaturated polyesters, styrenics, rubber, and engineered thermoplastics among others. The polyethylene segments can secure the highest share in the worldwide market. The segment can thrive owing to the versatile physical properties of polyethylene, such as high strength, toughness, and rigidity. Moreover, the surge in demand for Flame Retardant polyethylene in the production of automotive components, and building and construction solutions, is another key cause that support expansion of the segment in the years to come. The polyethylene segment can witness 8% CAGR between 2019 and 2025 and can earn about USD 3,500 Mn by 2025.
The Application-Based Segments of the Worldwide Flame Retardants Market are electricals & electronics, building & construction, transportation, and textiles among others. The building and construction segment can hold the largest market share in the years to come. The surge in refurbishment activities across Indonesia, China, and India; and hike in government investments for multiple infrastructural development can support expansion of the segment. The widescale application of polymers in construction and building industry can favor the market expansion. As per MRFR study, the flame retardants market can rise at 7.5% CAGR across the study period from 2019 to 2025.
Browse In-depth Market Research Report (449 pages) on Flame Retardants: https://www.marketresearchfuture.com/reports/flame-retardants-market-2506
Key Players Locking Horns:
The worldwide flame retardants market is characterized by the existence of numerous local vendors, global, and regional vendor. These eminent players in the global flame retardants market are deploying numerous strategies, such as; alliances, expansion, joint ventures, mergers & acquisitions, and expansion to gain global foothold. The increase in geographic presence of certain companies, along with and product launch, can aid in gaining a competitive edge over other. Multiple players are deploying robust growth strategies to capture the maximum market share.
Some Reputed Companies in the Flame Retardants Market that are listed by MRFR are:
- LANXESS
- Clariant
- ICL
- BASF SE
- Nabaltec AG
- RTP Company
- Celanese Corporation
- Kisuma Chemicals
- Dow
- Greenchemicals SpA
- Amfine Chemical Corporation
- Akzo Nobel N.V.
- Italmatch Chemicals SpA,
- J.M. Huber Corporation
Regional Status:
The Identification of Regional Growth Pockets of the Global Flame Retardants Market is studied for North America, Asia-Pacific, Middle East & Africa, Europe, and Latin America.
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Increase in Dwellings for Nuclear Family to Benefit APAC and EU Market
In Asia Pacific, the Flame Retardants Markets can thrive due to rise in construction activities owing to increase in need for nuclear family dwellings. As per MRFR study, the Flame Retardants Market in APAC can thrive at 7.5% CAGR by 2025. The surge in application of flame retardants in electrical, consumer electronics, and automotive industries can support expansion of the regional market. In North America, the hike in per capita spending on different infrastructural developments by individual and governments can favor the regional market in the near future. MRFR study suggests that the EU Flame Retardants Market can rise at 5.5% CAGR in the analysis period. In North America, the market is expected to hold about 20% share of the worldwide market. By 2025, the Flame Retardants Market can rise at nearly 6% CAGR.
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