Flame Retardants Market to Reach Huge Growth and Tremendous Demand in Next Coming years by 2030

Increased R&D activities, and growing demand from the construction and electronics sectors are the key factors fueling the market's growth.

WILMINGTON, DE, UNITED STATES, October 3, 2024 /EINPresswire.com/ -- Allied Market Research has published a comprehensive report titled, "Flame Retardants Market¹ by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorus Flame Retardants, and Others), Application (Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, and Polyolefins), and End-use Industry (Construction, Automotive & Transportation, and Electronics): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global flame retardants market was valued at $7.4 billion in 2020 and is projected to reach $14.0 billion by 2030, with a CAGR of 6.6% from 2021 to 2030.

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Key Market Drivers, Challenges, and Opportunities

- Drivers: Technological advancements, increased R&D activities, and growing demand from the construction and electronics sectors are the key factors fueling the market's growth.
- Challenges: Environmental and health concerns related to the use of flame retardants pose significant barriers to market expansion.
- Opportunities: The growing number of fire safety regulations worldwide presents potential opportunities for the development and use of safer, more effective flame retardants.

Market Segmentation Highlights

By Type

- Antimony Trioxide: Dominated the market with nearly one-third share in 2020. Its effectiveness when combined with halogenated compounds makes it widely used across various industries, including construction and chemical manufacturing.
- Alumina Trihydrate: Expected to witness the highest CAGR of 6.8% from 2021 to 2030, due to its high loading capacity and smoke-suppressing properties.

By End-use Industry

- Electronics: Held the largest share in 2020, accounting for nearly two-fifths of the global market, and is projected to grow at the fastest CAGR of 7.0% during the forecast period. The rise in technological advancements and increased adoption of flame retardants in the electronics sector to prevent health and environmental risks is driving this growth.
- Other Key Industries: The construction and automotive sectors are also significant contributors to market demand.

Regional Analysis

Asia-Pacific: Dominated the market in 2020 with the highest revenue share, accounting for nearly two-fifths of the global market. The region is expected to maintain this dominance and register the fastest CAGR of 7.4% by 2030, driven by increased demand across industries such as construction, automotive, electronics, and textiles.

Major Market Players

Key players in the global flame retardants market include:

- Albemarle Corporation
- BASF SE
- DOW
- Eastman Chemical Company
- Hangzhou Lingrui Chemical Co. Ltd.
- Hongbaoli Group Co. Ltd.
- Huntsman International LLC
- Lanxess
- Muby Chemicals
- Sasol

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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