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(HomeGarden247.com, February 07, 2020 ) The report "Flame Retardant Market by Type (ATH, Antimony Oxide, Brominated, Chlorinated, Phosphorous), Application (Epoxy, Polyolefins), and End-use Industry (Building & Construction, Electronics & Appliances, Wire & Cables, Automotive) - Global Forecast to 2021", The global flame retardants market is projected to reach USD 12.81 Billion by 2021 at a CAGR of 6.4% between 2016 and 2021. The market is majorly driven by growth of the end-use industries and increasing fire safety regulations.
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Building & construction end-use industry to continue dominating the market
Building & construction, electronics & appliances, and wires & cables are the major end-use industries of flame retardants. Building & construction is the largest end-use industry for flame retardants. Increased regulations pertaining to fire safety in the developed economies, such as Japan, the U.S., Germany, Australia, and Singapore are estimated to drive the flame retardants market considerably in future. Regulatory guidelines, such as NFPA 80A, NFPA 703, NFPA 255, NFPA 251, and NFPA 220 defines fire safety standards in the U.S. Similarly in Europe, CFPA lays out the fire safety standards for building construction.
Aluminum Trihydrate to dominate the flame retardants market
Aluminum Trihydrate dominated the flame retardants market, with Asia-Pacific as the largest market in 2015, and the trend is estimated to remain same during the forecast period. Low cost and environmental-friendly properties in comparison to other flame retardants are the major factors driving the demand for aluminum trihydrate. Brominated flame retardants account for the second largest share with healthy growth in Asia-Pacific owing to extensive use in the electrical & electronics industry. It grows moderately in the markets in Europe and North America owing to stringent environment regulations restricting the use of toxic chemicals.
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Browse in-depth TOC on "Flame Retardant Market”
143 - Market Data Tables
52 - Figures
172 - Pages
Increasing demand from Asia-Pacific accelerates growth of the flame retardants market
Asia-Pacific is the leading market for flame retardants, followed by North America and Western Europe. Asia-Pacific is projected to register the highest growth owing to vast potential that can be realized in near future because of increasing safety concerns and growth of various end-use industries in the developing economies in the region.
The leading players in the market include Albemarle (U.S.), ICL (Israel), Clariant (Switzerland), Lanxess (Germany), Nabaltec (Germany), The Dow Chemical Company (U.S.), BASF (Germany), Akzo Nobel (Netherlands), Italmatch (Italy), and Huber Engineered Materials (U.S.).
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