Flame Retardant Market Snapshot, Variables, Trends & Scope Till 2025
“The global flame retardant market size was valued over USD 6.27 billion in 2015. Flame retardant is a key component reducing the impact of fires on people, property, and environment.�
The global Flame Retardant Market size was valued over USD 6.27 billion in 2015. Flame retardant is a key component reducing the impact of fires on people, property, and environment. Flame retardants either prevent the fire from starting or slow it down significantly. The growth in industries such as construction, transportation, and electrical & electronics is expected to propel market demand over the forecast period. Governments around the world have framed stringent regulations aimed at reducing destruction caused to life and property due to fire. Government regulation pressure and growing awareness regarding fire safety among industry participants are expected to boost market demand. Product Insights The major product segments in the market are halogenated flame retardants and nonhalogenated flame retardants. Nonhalogenated product type was the major product segment in 2015 with demand exceeding 1,400 kilo tons. The consumption of these products is expected to grow rapidly owing to growing concerns about pollution caused by halogenated type. Brominated products dominated the halogenated segment and accounted for more than 40% market share in 2015. In nonhalogenated type, Aluminum hydroxide was the largest product segment and its growing application in end-use industries is expected to augment demand for these products.
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