Application segment of the flame retardants market is expected to be the most attractive segment till 2030

Flame Retardants Market Report

Technological advancements, increase in R&D activities, and increase in applications in construction and electronics industries are driving the growth of the global market.

PORTLAND, OREGON, USA, July 18, 2022 /EINPresswire.com/ — The global flame retardant industry generated $7.4 billion in 2020 and is expected to reach $14.0 billion by 2030, with a CAGR of 6.6% from 2021 to 2030.

Technological advancements, increase in R&D activities and increase in applications in construction and electronics industries are driving the growth of the global flame retardants market. However, increasing environmental and health issues associated with the use of flame retardants are restraining the market growth. On the other hand, the proliferation of fire and safety regulations creates new opportunities in the years to come.

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Covid-19 scenario

• Flame retardant manufacturing activities have been partially or completely stopped due to containment measures taken in many countries during the Covid-19 pandemic. In addition, supply chain disruptions and shortage of raw materials presented challenges in carrying out manufacturing at full capacity.
• Demand from end-user industries such as the automotive, aerospace, building and construction sectors has declined significantly due to the shutdown of daily operations during the lockdown. However, demand is expected to increase steadily post-lockdown.
• The pandemic has temporarily suspended various aircraft manufacturing projects, which in turn has reduced the demand for flame retardants from the aerospace industry.

The antimony trioxide segment will maintain its leading position throughout the forecast period

Based on type, the antimony trioxide segment held the highest market share in 2020, accounting for almost a third of the global flame retardants market, and is expected to maintain its leading position in terms of revenue while throughout the forecast period. This is due to its combination with halogenated compounds which are an excellent flame retardant for use in a wide range of industries including construction, oil and gas, chemical manufacturing and others. However, alumina trihydrate segment is projected to witness the highest CAGR of 6.8% from 2021 to 2030, owing to its high loading and smoke suppression properties and increasing adoption in several sectors. of end use.

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The electronics segment to provide lucrative opportunities

Based on end-use industry, the electronics segment contributed the highest market share in 2020, accounting for nearly two-fifths of the global flame retardant market, and is expected to maintain its position as leader during the forecast period. Moreover, this segment is expected to show the fastest CAGR of 7.0% from 2021 to 2030. This is attributed to the increase in technological advancements and R&D activities that has led the electronics industry. Additionally, the adoption of flame retardants has increased to prevent any chemicals from leaching into the environment or causing health impacts to consumers. The research also analyzes the segments including Construction, Automotive & Transportation, and Others.

Asia-Pacific, followed by Europe and North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe and North America, accounting for the highest market share in terms of revenue in 2020, contributing nearly two-fifths of the global retarders market flame, and is expected to maintain its dominance by 2030. Additionally, this segment is expected to register the fastest CAGR of 7.4% during the forecast period. This is attributed to the increasing demand for flame retardants in the building and construction, automotive, electrical and electronics, and textile industries in the region.

Main market players

• 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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About Us:
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 corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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Allied Analytics LLP
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