Global flame retardant chemicals market is expected to flourish at a significant CAGR of 6.7% over the forecast period. Moreover, the global flame retardant chemicals market is expected to garner USD 15.6 Billion by the end of 2024. Factors such as increasing utilization in construction materials (insulation, coatings & paints), electronics and automotive industries are expected to impel the growth of the global flame retardant chemicals market. Moreover, stringent regulatory guidelines and fire safety standards are anticipated to boost the demand for flame retardant chemicals market during the forecast period.
Asia Pacific captured the largest market share in overall flame retardant chemicals market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. This can be attributed to high growth of various end use industries in the region. Moreover, increasing building and infrastructural development activities in developing nations such as China and India is expected to garner the growth of the market. North America is also expected to showcase significant growth in the flame retardant chemicals market. Strict guidelines and regulations pertaining fire safety in the region is believed to the key factor driving the growth of the flame retardant market.
Stringent Rules & Regulations
Rising fire security measures and implementation of regulatory guidelines is likely to increase the market size of the global flame retardant chemicals market. According to U.S. National Fire Protection Agency, fire losses in the U.S. resulted in an estimated loss of 10.6 Billion in 2016. Further, establishment of various fire safety standards regarding the certification of flame retardant chemical materials such as NFPA 703 is expected to positively impact the growth of the flame retardant chemicals market.
Request For Free Sample Pages: https://www.researchnester.com/sample-request/2/rep-id-426
Increasing End Use Application
Wide scale application of flame retardant chemicals in construction materials, textile, electrical products and others is likely to accelerate the growth of the flame retardant chemicals market in the upcoming years. Moreover, substantial growth in the construction activities in developing regions such as Asia Pacific is anticipated to fuel the growth of the flame retardant chemicals market during the forecast period.
However, fluctuation in the price of raw material and toxicity risk associated with flame retardant chemicals are some of the factors which are expected to hamper the growth of the global flame retardant chemicals market.
The report titled “Flame Retardant Chemicals Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global flame retardant chemicals market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Request For TOC Report: https://www.researchnester.com/toc-request/1/rep-id-426
This report also provides the existing competitive scenario of some of the key players of the global flame retardant chemicals market which includes company profiling of BASF SE, The Dow Chemical Company, Lanxess Aktiengesellschaft, ICL Industrial Products, Akzo Nobel, Albemarle Corporation, Clariant AG, Nabaltec AG, Italmatch Chemicals SpA and Huber Engineered Materials. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global flame retardant chemicals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Request of Buy Now: https://www.researchnester.com/payment/rep-id-426
Company Name: Research Nester Pvt Ltd
Contact Person: Ajay Daniel
Email: Send Email
Phone: +1 646 586 9123
Address:1820 Avenue M, Suite# 1113, Brooklyn
City: New York
State: New York 11230
Country: United States