The global flame retardant market is expected to rise at a CAGR of 5.9% to reach USD 11,175.9 million by the end of 2027 on account of the increasing fire safety regulations adopted by various end-user industries worldwide. They are chemicals added to flammable materials such as plastic, coatings, textiles, and others to prevent fire incidents. Flame retardants are also added to products such as electric wires, computers, mattresses, foams, automobile parts, and others for protection against fire. A recently published report by Fortune Business Insights, states that the market value was USD 7,091.2 million in the year 2019 and is expected to rise remarkably in the forecast period set between 2020 to 2027.
Source:
https://www.fortunebusinessinsights.com/flame-retardants-market-102909
The Report Answers the Following Questions:
- What is the competitive landscape of the market?
- How will end-user applications help promote growth?
- What are the key strategies adopted by players in this market?
- What are the significant industry developments in this market?
Drivers & Restraints-
Increasing Consumption of Brominated Compounds in Products to Boost Growth
The imposition of stringent regulations on fire safety stands as a significant flame retardant market growth driver. This, coupled with the rising consumption of brominated compounds in products, will also aid in the expansion of the market. Additionally, the development of innovative and effective synergists will boost the market in the coming years.
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