Asia Pacific flame retardant chemicals 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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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 favour flame retardant chemicals demand. Automobile sale recorded over 85 million units in 2014 and is forecast to register 100 million units by 2018.
Indonesia and Thailand are likely to witness an increase in automobile production owing to favourable government policies for OEMs, which may drive product demand.
In Electrical & electronics (E&E) applications, the product supports in the production of laptops, cell phones, battery chargers, refrigerators, washers, dryers and vacuum cleaners. This may enhance flame retardant chemicals industry size.
Flame retardant chemicals market size may rise owing to increase in manufacturing output, especially in Europe, U.S. and Japan with expected recovery post economic downturn. Stringent regulations owing to environmental hazards may restrict flame retardant chemicals industry growth. However, eco friendly product developments may pave opportunities for market development.
Non halogenated flame retardant chemicals are attaining more consideration as they are environmental friendly. It results in the downfall halogenated product demand as they contain highly toxic. This is observed in North America and Europe owing to stringent rules and regulations.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the Flame retardant chemicals market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
Global non halogenated flame retardant chemicals industry 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.
The industry in the current scenario is facing issues with the increase in raw material and manufacturing cost. This factor may impact flame retardant chemicals market price trends.
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Global flame retardant chemicals market share is fairly competitive and comprises of MNCs. Notable industry participants include Dow Chemical, Clariant, Lanxess, BASF, Akzo Nobel, Albemarle and DuPont.
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