GLOBAL NON-HALOGENATED FLAME RETARDANT CHEMICAL MARKET FORECAST 2019-2027
NEW YORK, June 13, 2019 /PRNewswire/ -- KEY FINDINGS
Flame retardants are a diverse group of chemicals that are added to manufactured materials such as plastics, textiles, foams, woods, surface finishes, and coatings to delay or inhibit the spread of fire on the surface material.
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The global market for the non-halogenated flame retardant chemical is expected to amplify its market value from $XX million in 2018 to $XX million by 2027, at a CAGR of 5.85% between 2019 and 2027. The versatile integration of non-halogenated flame retardant chemical in the multitudes of end-use industries like construction, electronics, automotive, and other sectors, is mainly responsible for the market's commendable growth in the last few years.
MARKET INSIGHTS
The increasing application of non-halogenated flame retardant chemical in automobiles, increase in the safety measures being adopted by different industries, and its ability to limit the loss caused by fire are mainly responsible for the market's escalated growth rate. The primary driver for the market growth is the rising application of non-halogenated flame retardant chemical by the automobiles.
Interestingly, the flame retardants in unsaturated polyester resins are used for pipes, tanks, and high-performance components used in marine and automotive industries. But, the scarcity of raw materials and the primary usage of fuel grade ethanol or bio-ethanol rather than the non-halogenated flame retardant chemicals are hindering the global non-halogenated flame retardant chemical market.
REGIONAL INSIGHTS
The market for the non-halogenated flame retardant chemical is geographically segmented into North America, Asia Pacific, Europe, and the Rest of World regional segment. The Asia-Pacific flame retardants market is anticipated to undergo significant progress due to the abundance of lucrative opportunities created by the esteemed market players, owing to an increase in development activities in the emerging economies, rapid industrialization, and an increase in construction activities.
COMPETITIVE INSIGHTS
The major contending market players are Nabaltec AG, LANXESS, J.M. Huber Corporation, Nippon Carbide Industries Co. Inc., Sumitomo Chemical Co. Ltd., Thor, BASF AG, Israel Chemicals, DowDuPont Inc., Clariant, and DAIHACHI Chemical Industry Co. Ltd.
Companies mentioned
1. BASF AG.
2. CLARIANT
3. DOWDUPONT INC.
4. J.M. HUBER CORPORATION
5. LANXESS
6. NABALTEC AG
7. ISRAEL CHEMICALS
8. NIPPON CARBIDE INDUSTRIES CO. INC.
9. SUMITOMO CHEMICAL CO. LTD.
10. THOR
11. DAIHACHI CHEMICAL INDUSTRY CO. LTD.
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