Flame Retardant Chemicals Market worth $10,340 Million by 2019
- Written by Kim Carter
Browse 158 market tables and 169 figures spread through 330 pages and in-depth TOC on "Flame Retardant Market - Global Trends & Forecast to 2019"
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The advantages offered by flame retardant chemicals in fire safety solutions, coupled with its rising demand in various applications of end-user industries, is expected to drive the flame retardant chemicals market. Flame retardant chemical is extensively used in the construction, automotive, and electronics industries. The construction industry is the major user of flame retardant chemical-based products. Flame retardant chemicals lower down the flammability of combustible substances, reduce flame accumulation, or hinder fire, thereby increasing its usage in the electronic industry.
The flame retardant chemicals market is growing steadily in Europe, but will continue to grow at a rapid pace in Asia-Pacific. One of the key factors contributing to this market is the increased usage of flame retardant chemicals in emerging Asia-Pacific economies, due to increase in industrialization activities in major developing economies such as China, Japan, and India. The North American markets for flame retardant chemicals will also continue to grow at a healthy rate. The Middle East & African and Latin American markets have still not realized their full potential but their growth rates would be considerably higher.
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The flame retardant chemicals market is highly competitive and most companies don’t offer all types of flame retardant chemicals. Albemarle Corporation (U.S.), Chemtura Corporation (U.S.), and Clariant AG (Switzerland) are the most active companies in the flame retardant chemicals market. The companies in the flame retardant chemical market are focusing on various strategies such as new product development, capacity expansion, and price increases.
The shortage and increased price of raw material used for the production of flame retardant chemical along with the toxicity issues related to the flame retardant chemicals production process could pose a challenge for the growth of this market. However, in order to ensure that the products and processes encompass all the stringent regulations implemented by governments globally, the flame retardant chemicals manufacturers are investing heavily into R&D activities. Most players are trying to develop an efficient and effective way to produce bio-based flame retardant chemicals.
The report covers the flame retardant chemicals market and its trends that concern five regions, namely, Europe, North America, Asia-Pacific, Rest of the World (ROW); and the major countries in each region such as U.S., Canada, Germany, Italy, China, Japan, India, and others. Flame retardant chemicals market by types, aluminum trihydrate (ATH), antimony oxides, brominated, chlorinated, and organophosphorus along with others, have also been studied.