In this report, Technavio covers the market outlook and growth prospects of the global flame retardant chemicals market for 2016-2020. The market is further categorized into the following six end-user segments, which include building and construction; electricals and electronics; textile and furnishing; wires and cables, transportation; and others.
“The growth of end-user industries, fostered by economic growth, population growth, need for better infrastructure, and increasing awareness, is in turn expected to drive the market for flame retardant chemicals during the forecast period,” says Ajay Adikhari, a lead specialty chemicals research expert from Technavio.
Technavio’s chemicals and materials research analysts segment the global flame retardant chemicals market into the following regions:
- North America
APAC, with over 48% of the market share, accounted for a large proportion of the share in the global flame retardant chemicals market, followed by North America, Europe, and ROW, in 2015. The region will sustain its market share over the forecast period.
APAC: infrastructural development and favorable economic conditions boost growth
Infrastructural development and favorable economic conditions are creating a stable demand for flame retardant chemicals in APAC. China and Japan are the largest consumers of flame retardant chemicals in applications across different end-user industries.
The increased use of halogenated flame retardant chemicals, which are used extensively in the electricals and electronics, and automotive segments are driving the market in the region. Most end-user industries of flame retardant chemicals are expected to grow at a significant rate during the forecast period. In addition, India is expected to attract foreign direct investments due to favorable government initiatives, thereby resulting in the establishment of new industries which will contribute to market growth in the region.
Request a sample report: http://www.technavio.com/request-a-sample?report=54408
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
North America: use of nonhalogenated flame retardants in polymers drives growth
In North America, the US is the largest consumer of flame retardant chemicals. The market in the region is driven by its increasing use in wire and cables, electronics, and automotive segments. The increasing use of nonhalogenated flame retardants in polymers is one of the prime factors for driving the market growth in the region.
Europe: large scale use of plastics and polymers boosts demand for flame retardants
The market for flame retardant chemicals in Europe is driven by its widespread use in Germany, France, Austria, Belgium, the Netherlands, and Switzerland. Flame retardants in the region are regulated by organizations, including Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and European Brominated Flame Retardant Industry Panel (EBRFIP). The market is driven by the increased use of nonhalogenated flame retardants. Europe is one of the highest consumers of plastics and polymers. “Growth in polyolefins, thermoplastics, PVC, rubber, and styrene markets, along with higher fire safety concerns will drive the market growth in this region,” says Ajay.
ROW: growth in the automotive, construction, and electronics sectors boosts demand
The ROW market for flame retardant chemicals is driven by growth in the automotive, building and construction, textile, and electronics sectors in Central and South America, Middle East, and Africa.
The light vehicle market in Central and South America is expected to grow at a CAGR of more than 3%. Plastic components are widely being used in this sector to reduce the curb weight of the vehicles to increase fuel efficiency. Therefore, the use of flame retardant chemicals in plastic components is expected to increase during the forecast period.
The top vendors in the global flame retardant chemicals as highlighted in the report are:
- Israel Chemicals
Browse Related Reports:
- Global Industrial Protective Clothing Market 2016-2020
- Global Boric Acid Market 2016-2020
- Global Fluorochemicals Market 2016-2020
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact firstname.lastname@example.org with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.