NEW YORK, July 19, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the size of the flame retardants market was $7,565.1 million in 2021. This figure will increase to $12,028.4 million by 2030, at a growth rate of above 5% during this decade. This has a lot to do with technological advancements, increasing research and development activities, and growing end-use industries. Furthermore, the increasing stringency of the regulations on fire safety in different nations propels the growth of the market.
The highest demand in the flame retardants market was generated by the building & construction industry, which held about 40% of the revenue share, in the year 2021. The growing infra activities in countries such as China and India drive the requirement for these chemicals. For example, infrastructure activities in APAC are propelled by many government initiatives, such as the Smart City Mission and PMAY scheme in India, and the Chinese Belt and Road Initiative.
Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/flame-retardants-market/report-sample
The higher revenue was generated by non-halogenated flame retardants in the year 2021, and this category will grow with a rate of over 5%. The main reason for this is that these chemicals show excellent flame retardancy, thermodynamic characteristics, and smoke suppression, which is why they are an ideal fit for anti-fire purposes in many industries.
The electrical & electronics industry will showcase the highest growth rate, of nearly 6%, in the flame retardants market in the coming years. This will be due to the swelling use of plastics in the manufacture of electronic components and growing consumption of insulation on products for fire risk reduction and consumer safety. Flame retardants offer augmented resistance to internal and external sources of heat, particularly to electrical wires and cables.
In 2021, APAC garnered the largest revenue share, of about 50%, and it will have the greatest revenue in the near future as well. This is mainly due to the rapidly growing industrial sector and infra development. Additionally, this region is the biggest manufacturer of electronics around the globe, accounting for 70–75% of the total production. Japan, South Korea, and China produce a wide variety of electrical components and supply them to numerous industries worldwide.
Browse detailed report on Global Flame Retardants Market Analysis and Growth Forecast Report 2030
China generates the highest demand for flame-resistant materials in the APAC flame retardants market as it is the major industrial base for electrical & electronic apparatus. Moreover, the momentous developments in the commercial and residential construction sectors and transportation & automotive sector in the nation have been pushing the consumption of materials that do not catch fire.
Flame Retardants Market Report Coverage
By Type
- Halogenated
- Brominated compounds
- Chlorinated compounds
- Non-Halogenated
- Inorganic
- Aluminum hydroxide
- Magnesium hydroxide
- Boron compounds
- Phosphorus
- Nitrogen
By End-Use Industry
- Buildings & Construction
- Electrical & Electronics
- Automotive & Transportation
- Textiles & Furniture
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- APAC
- China
- India
- Japan
- Australia
- South Korea
- LATAM
- Brazil
- Mexico
- MEA
- Saudi Arabia
- South Africa
Browse more latest publication by P&S
Plasticizers Market Size & Share Analysis by Product, End Use, Geographical Outlook - Industry Growth and Future Scope
Epoxy Adhesive Market Share Analysis Report by Type, End User, Distribution Channel - Industry Growth Forecast to 2030
Crop Protection Chemicals Market Size & Share Analysis Report by Type, Application - Industry Growth Forecast to 2030
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
SOURCE P&S Intelligence
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO21049&Transmission_Id=202207190610PR_NEWS_USPR_____IO21049&DateId=20220719)
Share this article