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growing automotive production and bolstering growth in the electrical & electronics sector are also driving the growth of the Flame Retardant Chemicals Market

HYDERABAD, TELANGANA, INDIA, January 13, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Flame Retardant Chemicals Market size is estimated to reach US$9.7 billion by 2027 and is expected to grow at a CAGR of 6.0% during the forecast period 2022-2027. Flame retardant chemicals are chlorine-, bromine-, phosphorous- or nitrogen-based and are applied to the materials to prevent them from catching fire. The high thermal insulation properties of these chemicals are creating a surge in their demand, thereby propelling the Flame Retardant Chemicals Market growth. Major end-users of flame retardant chemicals such as transportation, building & construction and electrical & electronics are experiencing a boom that has boosted their productivity. According to Eurostat, in February 2022, production in building construction increased by 8.6% in the civil engineering construction sector of the European region. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/11692/flame-retardant-chemicals-market.html

Key takeaways:

This IndustryARC report on the Flame Retardant Chemicals Market highlights the following areas -

1. Asia-Pacific dominates the Flame Retardant Chemicals Market due to the rapidly growing automotive and building & construction sector in the region. This has accelerated the demand for flame-retardant chemicals for automotive components and building materials. According to the International Organization of Motor Vehicle Manufacturers, in 2021, Japan’s automotive production saw a 2% increase compared to 2020.

2. The rising production of consumer electronics has boosted the demand and usage of Flame Retardant Chemicals in the electronics & electrical sector. This has positively impacted the Flame Retardant Chemicals industry outlook.

3. The stringent regulation of halogenated Flame Retardants because of their higher toxicity level can hamper their production & consumption level, thereby obstructing the growth of the Flame Retardant Chemicals Market size during the forecast period.

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https://www.industryarc.com/pdfdownload.php?id=11692

Segmental Analysis:

1. The industrial grade held the largest share in the Flame Retardant Chemicals Market in 2021 and is expected to grow at a CAGR of 5.1% during the forecast period 2022-2027. Industrial-grade flame retardants such as chlorine, bromine or nitrogen-based have higher fire resistance and thermal insulation. Due to these properties, they are used in electric wires & cables, automotive seats, interior components and building foams.

2. Asia-Pacific dominated the Flame Retardant Chemicals Market with a 41% market share. The demand for flame retardant chemicals in building & construction for insulating foam and in the transportation sector for seat covers & interior components application is fueling its market demand in the Asia-Pacific region.

3. The building & construction sector held the largest share in the Flame Retardant Chemicals Market in 2021. It is expected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Chlorine, Bromine or nitrogen-based flame retardant chemicals can withstand high temperatures and flames and are ideal for residential & commercial buildings to provide structural insulation and maintain a comfortable temperature.

Competitive Landscape:

The top 5 players in the Flame Retardant Chemicals Industry are -

1. BASF SE
2. LANXESS
3. ICL Group
4. Albemarle Corporation
5. Akzo Nobel

Click on the following link to buy the Flame Retardant Chemicals Market Report:
https://www.industryarc.com/reports/request-quote?id=11692

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Non Halogenated Flame Retardants Market
https://www.industryarc.com/Research/Non-Halogenated-Flame-Retardants-Market-Research-503673

B. Halogen-Free Flame Retardant Market
https://www.industryarc.com/Report/16535/halogen-free-flame-retardant-market.html

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