Flame Retardant Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2027
Ngày đăng: 08-03-2023 |
Ngày cập nhật: 08-03-2023
The global flame retardant market is expected to rise at a CAGR of 5.9% to reach USD 11,175.9 million by the end of 2027 on account of the increasing fire safety regulations adopted by various end-user industries worldwide. Flame retardants are chemicals added to flammable materials such as plastic, coatings, textiles, and others to prevent fire incidents. Flame retardants are also added to products such as electric wires, computers, mattresses, foams, automobile parts, and others for protection against fire. that the market value was USD 7,091.2 million in the year 2019 and is expected to rise remarkably in the forecast period set between 2020 to 2027.
Source:
https://www.fortunebusinessinsights.com/flame-retardants-market-102909
Drivers & Restraints-
Increasing Consumption of Brominated Compounds in Products to Boost Growth
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.
Segment
Antimony Oxides Segment Earned Highest Share Soon to be Overpowered by ATH Segment
The market was dominated by the antimony oxides segment with a 26.6% flame retardant market share in 2019. However, the ATH or the aluminium trihydrate segment is likely to emerge dominant in the forecast period as it does not emit any toxic smoke while burning and is, therefore, the most widely used component in the field of flame retardants today.
