Global Flame Retardants Market Size, Share And Growth Analysis For 2024-2033
Flame Retardants Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Flame Retardants Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The flame retardants market has experienced robust growth in recent years, expanding from $7.94 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to consumer goods manufacturing, safety concerns in transportation, awareness of fire hazards, electronics industry growth, stringent fire safety regulations.
What Is The Estimated Market Size Of The Global Flame Retardants Market And Its Annual Growth Rate?
The flame retardants global market is projected to continue its strong growth, reaching to $10.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rapid urbanization, increasing electronic device usage, demand for environmentally friendly flame retardants, global efforts to reduce fire incidents. Major trends in the forecast period include advancements in nanotechnology, demand in automotive applications, collaborations for research and development, consumer awareness and product labeling, use in textiles and upholstery, global expansion and market penetration.
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Growth Driver Of The Flame Retardants Market
The increasing demand for electronic products will drive the market going forward. The demand for electronics is rising due to technological advancements, fast replacement cycles, growing disposable income, and changing consumer preferences. During manufacturing, flame retardants are chemically adhered to the circuit boards of electronics, preventing any chemicals from leaching into the environment or potentially harming users' health.
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Which Market Players Are Steering the Flame Retardants Market Growth1?
Key players in the market include BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A., Nabaltec AG, Du Pont de Nemours and Company, Koninklijke DSM NV, Israel Chemicals Limited, Budenheim Chemicals KG, Eastman Chemical Company, Hangzhou Lingrui Chemical Company Limited, Hongbaoli Group Company Limited, Huntsman International LLC, Apexical Inc., Daihachi Chemical Industry Co. Ltd., DIC Corporation, Dow Chemical Company, Nyacol Nano Technologies Inc., Rinkagaku Kogyo Co. Ltd., RTP Company, Sanwa Chemical Co. Ltd., Shandong Brother Sci. & Tech. Co. Ltd., Tor Minerals International Inc., Tosoh Corporation, UFP Industries Inc., Lubrizol Corporation, Akzo Nobel NV, Broadview Technologies Inc., Chemtura Corporation, Clariant International Ltd., Rio Tinto Group Corp., Sinopec Shanghai Petrochemical Company Limited.
What Are the Dominant Trends in Flame Retardants Market Overview2?
Product innovations have emerged as the key trend gaining popularity in the flame retardants market. Major companies operating in the flame retardants sector are focused on developing innovative products to meet customer demand..
How Is The Global Flame Retardants Market Segmented?
1) By Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
2) By Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics And PET)
3) By End User: Construction, Automotive and Transportation, Electronics, Other End-Users (Textiles, Aerospace, And Adhesives)
Geographical Insights: North America Leading The Flame Retardants Market
Asia-Pacific was the largest region in the flame retardants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flame retardants global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Flame Retardants Market Definition
Flame retardants are chemicals used to treat combustible materials in order to either prevent fires from starting or retard the spread of existing fires and increase the amount of time for escape. Flame retardants give customers an essential layer of fire protection and can be crucial for lowering the hazards associated with fire.
Flame Retardants Global Market Report 2024 from The Business Research Company3 covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global flame retardants market report covering trends, opportunities, strategies, and more
The Flame Retardants Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flame retardants market size, flame retardants market drivers and trends, flame retardants market major players, flame retardants competitors' revenues, flame retardants market positioning, and flame retardants market growth across geographies. The flame retardants global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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