Market Research Future (MRFR) has revealed in its latest report
that the global Halogen-Free Flame Retardants Industry is projected to thrive
moderately at a CAGR of 5.76% during forecast period 2018 to 2023. The Halogen-Free
Flame Retardants Industry is estimated to grow from USD 2191.95 Mn in 2017 to
USD 3067.05 Mn by the end of 2023. The disclosure about the toxin emissions
from halogen and its severe effects on life and earth in the 1990s has paved
the way for the adoption of halogen-free flame retardants over the years.
The shift towards non-halogenated retardants supported by the
stringent laws enforced such as Restriction of Hazardous Substances (RoHS);
Registration, Evaluation, Authorization and Restriction of Chemicals (REACH);
Waste Electrical and Electronic Equipment Regulation (WEEE), etc. is likely to
augment the global Halogen-Free
Flame Retardants Industry growth in the
foreseeable future. The strong value maintained by the construction industry is
expected to catapult the market on an upward trajectory. The extensive use of
polymers in the construction sector in the form of plastics, composites, foams,
textiles, and paints and coatings, among others has intensified the adoption of
halogen-free flame retardants for meeting safety standards. The demand from the
construction sector is poised to catalyze with the accelerated construction
activities being undertaken globally. Additionally, the increasing demand from
the electronics industry and opportunities posed by transportation industry are
projected to open avenues of market growth over the next couple of years.
Nevertheless, high loading levels of halogen-free flame retardants remain an
impediment to the market proliferation.
Global Market for
Halogen-Free Flame Retardants-Competitive Dashboard:
Some of the key players profiled by MRFR in the report are
Clariant AG (Switzerland), LANXESS (Germany), J.M. Huber Corporation (US),
Israel Chemicals Limited (Israel), Nabaltech AG (Germany), BASF SE (Germany),
Celanese Corp. (US), RTP Company (US), Greenchemicals SpA (Italy), Kisuma
Chemicals B.V. (Netherlands), and Amfine Chemical Corporation (US).
Access Report
@ https://www.marketresearchfuture.com/reports/halogen-free-flame-retardant-market-6062
Global Market for
Halogen-Free Flame Retardants-Segmental Analysis:
MRFR’s report offers
a detailed segmental analysis of the global Halogen-Free Flame Retardants
Industry based on type, resin type, and end-use. By type, the market has been
segmented into aluminum trihydrate, phosphorous-based, magnesium hydroxide, and
others. Among these, the aluminum trihydrate segment is poised to capture a
relatively higher share of the market thriving at the highest pace. The growth
of the segment can be ascribed to the availability of aluminum trihydrate at
meager costs.
By resin type, the
market is segmented into polyethylene, polypropylene, epoxy, unsaturated
polyesters, polyvinyl chloride, styrenics, engineered thermoplastics, rubber,
and others. The polyethylene segment is estimated to reach a valuation of USD
775.98 Mn by the end of 2023 accounting for a substantial share of the market.
By end-use, the
market has been segmented into building and construction, electrical and
electronics, transportation, consumer goods, and others. The building and
construction segment commanded the most significant share of the market in
2017. It is likely to remain a highly lucrative market in the foreseeable
future reaching a valuation of USD 1320.45 Mn by the end of 2023.
Regional Outlook:
By region, the Halogen-Free
Flame Retardants Industry has been segmented into Asia Pacific, North America,
Europe, Latin America, and the Middle East & Africa. Asia Pacific held the
most substantial share of the market in 2017 and is projected to retain its
prominence towards the end of 2023 registering a CAGR of 6%. The developments
in the building and construction, and, electrical and electronics industries have
augured well for the Halogen-Free Flame Retardants Industry in the region. Led
by China, the regional market is expected to witness increased demand from the
automotive industry.
Europe is expected to retain a significant fraction of the
market over 2023 exhibiting a healthy CAGR of 5.61% during the assessment
period. The growth is attributable to the increased renovation and rebuilding
activities coupled with strict regulatory enforcements such as REACH, RoHS,
WEEE, etc.
North America is
anticipated to be an emerging growth pocket in the global Halogen-Free Flame
Retardants Industry. The region is set to expand at a CAGR of 5.75%. Stringent
environmental regulations and building codes in the developed economies are
poised to pave the way for growth opportunities in the region.
The Middle East & Africa and Latin America currently account
for the least shares in the global market. However, the regions exhibit
tremendous potential owing to the growing building and construction industry,
and, stabilizing economies.
Get Sample@ https://www.marketresearchfuture.com/sample_request/6062
No comments:
Post a Comment