Flame retardant market will exhibit a CAGR of 5.9% and reach USD 11,175.9 million by the end of 2027, and the market value as per 2019 was USD 7,091.2 million.
Fortune Business Insights, titled, “Flame Retardant Market Size, Share & Industry Analysis, By Chemistry (ATH, Brominated, Antimony Oxides, Chlorinated, Phosphorous Compounds, and Others), By End User (Automotive, Construction, Wire & Cable, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2020-2027,”.
We are all going through difficult times due to the current coronavirus pandemic. Most businesses are temporarily closed as the governments of various nations imposed lockdown measures to protect people from the COVID-19 epidemic. Research and development activities on the invention of an antidote to fight coronavirus are still in its nascent stage. The world economy is facing a significant drawback due to business halt.
Flame retardant market Drivers and Restraints :
The imposition of stringent regulations on fire safety stands as a significant flame retardant market growth driver. This, coupled with the rising consumption of brominated compounds in products, will also aid in the expansion of the market. Additionally, the development of innovative and effective synergists will boost the market in the coming years.
However, the rising health and environmental concerns that imposed restrictions on the use of conventional fire retardant products may hamper the market growth. Nevertheless, the imposition of fire safety norms has propelled various end-user product manufacturers to utilize flame retardants in their products, thereby creating lucrative growth opportunities for the market in the coming years.
List of Significant Manufacturers flame retardant market are:
- Thor (UK)
- Italmatch Chemicals S.p.A. (Italy)
- Huber Engineered Materials (United States)
- Kisuma Chemicals (Netherlands)
- Nabaltec AG (Germany)
- Dow (United States)
- Akzo Nobel N.V. (Netherlands)
- BASF SE (Germany)
- ICL Group (Israel)
- Lubrizol Corporation (United States)
- Clariant (Switzerland)
- LANXESS (Germany)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/flame-retardants-market-102909
Some of the key industry developments in the flame retardant market Include:
September 2020 – A leading producer of bromine and bromine-based products called ICL Group is increasing its production capacity by 50% for applications in the automotive industry.