Flame Retardants Market Overview:
The Global Flame Retardants Market is expected to witness a CAGR of 5.86% during the forecast period of 2018 to 2025. According to Market Research Future, this projection indicates a consistent upward trend in the global market. Flame retardants are popularly added to various chemicals and materials to imbue them with the ability to resist fire or to reduce the impact of a fire. Flame retardants are vital in the treatment of various materials which would otherwise be flammable, this essential feature of flame retardants is a key factor driving growth for the market.
Industrialization and generation of awareness are expected to drive significant growth
Development of industrialization and growing income are the prime determinants of the market. The inclusion of flame retardants is being seen as a universal and ubiquitous need. The growing trade in durable goods and flammable materials such as plastics possess a significant hazard. Growing use of plastic foams in packaging has resulted in a substantial demand for flame retardants owing to their inflammable nature. The growing awareness of fire hazards has created demand for fireproof materials that can withstand ignition temperature.
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Technological development and enactment of regulations are expected to drive faster adoption
The development of innovative activation methodologies such as different physical and chemical methods can be either reactive, or additive has stimulated the market. In addition to general endothermic degradation and thermal shielding advanced methodologies such as dilution of gas phase and gas phase radical quenching are being employed which is driving the market.
Enactment of regulations such as the proposed TB 117 by California in 2013, which require fabric, covered furniture to meet a smolder test and to eliminate the foam flammability standards has resulted in a rush to include flame retardants in furniture.
Flame Retardants Market Key Players:
Prominent players who have been included in the analysis of the competitive landscape in the report on the global flame retardants market include Albemarle Corporation, BASF SE, The Dow Chemical Company Co., Chemtura Corporation, Clariant International Ag, China Antimony Chemicals Co. Ltd, AkzoNobel NV, and others.
Flame Retardants Market Segmentation:
The global flame retardants market has been segmented on the basis of types, application, end-users, and region. By types, the market has been segmented into brominated, phosphorus, nitrogen, chlorinated, metal hydrate and others.
By application, the market has been segmented into plastics, fabrics, cable & wires, polyurethane foam, and others.
By end-user, the market has been segmented into transportation packaging industry, military & aerospace industry, building & construction, electronics, and others.
By region, the global market has been segmented into North America, Europe, Latin America, the Middle East & Africa and the Asia-Pacific.
Flame Retardants Market Regional Analysis:
Globally, Asia Pacific is the leading region in the market on account of growing consumption of fire prevention materials in construction, electrical & electronics, and military sectors. These coverings are used to impart corrosion resistance and responsive nature to the final product. Growing population and a surge in demand are the major drivers behind the growth in the market during the assessment period. This market is expected to grow at a higher rate due to highest penetration of aluminium hydroxide in the non-halogenated segment. The North America and Europe region is expected to witness moderate growth in U.S., Canada and Mexico due to stringent regulations proposed by the government regarding the toxicity of the product.
Flame Retardants Market Table Of Contents to be Continue…….,
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