NEW YORK, Sept. 23, 2021 /PRNewswire/ -- The flame retardant chemicals market is expected to grow by USD 1.89 billion during 2021-2025, expanding at a CAGR of 4.70%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The rise in infrastructure development is notably driving the flame retardant market growth, although factors such as environmental and health concerns caused by flame retardant may impede market growth
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As per Technavio, the stringent fire safety standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
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This market research report segments the flame retardant market by End-user (Building and construction, Electricals and electronics, Textile, Transportation, and Others) and Geography (APAC, Europe, North America, MEA, and South America).
54% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for flame retardant chemicals market in APAC.
APAC has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. Stringent fire safety standards will facilitate the flame retardant market growth in APAC over the forecast period.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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