Flame Retardant Chemicals Market size was over USD 7.5 billion in 2015 and is likely to gain 4.5% CAGR up to 2023 register above USD 10 billion. Flame retardants market size may reach over 2.9 million tons by 2023 with expected gains at over 6% CAGR.
Asia Pacific flame retardants market size, led by China & India, dominated the regional industry and accounted for over 42% of the overall demand in 2015. Asia Pacific dominated the market over the past few years, followed by Western Europe and North America. Asia Pacific is forecast to register the highest growth owing to enormous potential that can be discover in near future because in the increase of safety concerns and growth of many end-use industries in the developing countries.
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Rise in fire safety norms in construction and automobile industries may stimulate product demand. Increase in construction spending particularly in Asia Pacific may drive product demand. China construction spending was over USD 1.7 trillion in 2014, followed by Japan and India with over USD 739 billion and USD 421 billion respectively in the same year. North America demand may rise at a faster pace than other developed regions due to a forecast rebound in the US construction market, but will remain below the global average.
Flame retardant chemicals market may witness strong growth in construction applications up to 2023. Construction application may account for over 25% of the overall volume by 2023. National Fire Protection Association (NFPA) regulated fire safety standards in the U.S., Similarly, The Confederation of Fire Protection Association (CFPA) lays out the fire safety & resistance standards for building construction in Europe. These norms are the propelling factors for product demand to rise.
Increasing plastic usage for automobile production owing to growing fuel efficiency demand and limiting carbon emissions may favor flame retardant chemicals demand. Automobile sale recorded over 85 million units in 2014 and is forecast to register 100 million units by 2018.
Global non halogenated flame retardants market is expected to reach USD 2.5 billion by 2023 and it is expected that halogen based products will be banned keeping in the concern of human health and environmental hazards.
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Global flame retardants market share is fairly competitive and comprises of MNCs. Notable industry participants include Dow Chemical, Clariant, Lanxess, BASF, Akzo Nobel, Albemarle and DuPont.
This latest Flame Retardant Chemicals Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Flame Retardant Chemicals industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Flame Retardant Chemicals Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023.” in detail along with the table of contents:
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Key Insights in this Report
- Flame Retardant Chemicals Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Flame Retardant Chemicals Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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