Flame Retardant Market is Expected to Witness Rapid Growth 2014 - 2024

Flame retardants are used to reduce this risk of fire in a wide range of electronic products such as smartphones, laptops, refrigerators, TV sets, printed wiring boards, and vacuum cleaners. Rising disposable income is boosting the growth of electrical & electronics segment owing to which the demand for flame retardants is expected to be high in this application segment.

Construction end use segment is anticipated to grow at a CAGR of 6.8% over the forecast period on account of growing investments in developing countries. Fire safety and prevention is the primary concern of the consumers in construction, the demand is expected to grow rapidly over the forecast period.

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Regional Insights

Asia Pacific was the major regional segment and accounted for over 45% of total volume in 2015. High demand from countries such as China, Japan, and India are benefitting the market growth. The upcoming electrical & electronics manufacturing hubs coupled with a positive outlook for construction sector is expected to drive the flame retardant market over the forecast period.

The growing pressure of regulatory agencies such as REACH and European Flame Retardant Association (EFRA) is driving the demand for these products in Europe. Europe consumed over 600 kilotons in 2015. The presence of a large number of end-use industries is expected to boost market growth in this region.

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