Flame retardant chemicals are added to several base materials and manufacturing materials. Different types of retardants are made using different chemicals and base materials. Strong demand from different consumer markets and emerging economies are expected to drive the demand in the global flame retardant chemicals market. Impressive growth opportunities from the emerging markets, technological advancements, and emerging applications are expected to help the industry witness steady growth in the next few years to come.
Scope of Research – Segmentation
The global flame retardant market is segmented on the basis of the basic market components, which include the types of chemicals, end-user industries and geographic regions. The types of chemicals in the market include brominated, chlorinated, antimony oxides, aluminum trihydrate, organophosphorus and such other products. Major end-users industries for the market are categorized into electronics, consumer goods, building and construction, wires and cables, automotive and construction, textiles and such other industries. Based on geographic regions, the market is divided into North America, Asia Pacific, Europe and rest of the world. The rest of the world region includes analysis of the regions like South Africa and Brazil.
The global flame retardant chemicals market is driven by three basic driving factors. According to the researchers, growing safety regulations for fire around different parts of the world, rising demand from the end-user industries and strong demand from the emerging economies like Asia Pacific and especially China are expected to drive the market at a steady growth rate. Increasing costs and strong government regulations are expected to be the major restraints for the market. However, strong demand for the non-halogenated retardants and new product innovations are expected to create healthy growth opportunities for the global market.
Growth Prospects for Global Market
Strong growth opportunities from the emerging markets are expected to drive the global flame retardant chemicals market at a steady growth rate. Regions like Asia Pacific, Africa, and Latin America are expected to witness impressive growth in the market during the next few years to come. This growth in the global market is projected to create strong business opportunities for the key players around the world. As per the latest reports, the global market is expected to grow at a significant compound annual growth rate (CAGR). The expected are anticipating the market to reach past $10,340 million by the end of the year 2019. Asia Pacific region is projected to witness strongest growth in the global market from 2014 to 2019.