This is attributed to increase in demand for flame retardants in building & construction, automotive, electrical & electronics, and textiles industries.
PORTLAND, OREGON, UNITED STATES, March 16, 2023 /EINPresswire.com/ — Asia-Pacific, followed by Europe and North America, accounting for the highest market share in terms of revenue in 2020, contributing to nearly two-fifths of the global flame retardants market, and is expected to maintain its dominance by 2030. Moreover, this segment is projected to register the fastest CAGR of 7.4% during the forecast period. This is attributed to increase in demand for flame retardants in building & construction, automotive, electrical & electronics, and textiles industries in the region.
Allied Market Research published a new report, titled, “Flame Retardants Market by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide Phosphorus Flame Retardants, and Others), Application (Unsaturated Polyester Resins, Epoxy Resins, Polyvinyl Chloride (PVC), Rubber, and Polyolefins), and End-use Industry (Construction, Automotive & Transportation, and Electronics): Global Opportunity Analysis and Industry Forecast, 2021-2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Technological advancements, rise in R&D activities, and surge in applications in the construction and electronics sector drive the growth of the global flame retardants market. However, rise in environmental & health issues associated with the use of flame retardants restrain the market growth.
This makes it important to understand the practical implications of the flame retardants market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
According to the report, the global flame retardants industry generated $7.4 billion in 2020, and is expected to reach $14.0 billion by 2030, witnessing a CAGR of 6.6% from 2021 to 2030.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players including Albemarle Corporation, BASF SE, DOW, Eastman Chemical Company, Hangzhou Lingrui Chemical Co. Ltd., Hongbaoli Group Co. Ltd., Huntsman International Llc. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
The electronics segment contributed to the highest market share in 2020, accounting for nearly two-fifths of the global flame retardants market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 7.0% from 2021 to 2030. This is attributed to increase in technological advancements and R&D activities that led the electronics sector. Moreover, the adoption of flame retardants increased to keep any chemicals from seeping into the environment or possibly causing health repercussions for consumers.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the flame retardants market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The antimony trioxide segment held the highest market share in 2020, accounting for nearly one-third of the global flame retardants market, and is projected to continue its lead position in terms of revenue throughout the forecast period. This is due to its combination with halogenated compounds that serves as an excellent flame retardant for usage in a wide range of sectors including construction, oil & gas, chemical manufacturing, and others.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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