Flame Retardant Market is valued at US$ 8.9 Billion in 2021 and is anticipated to increase at US$ 11.17 Billion by 2027, with a growing CAGR of 5.9% of in the next six years.

Flame Retardants are chemicals that are applied to materials to prevent the start or slow the growth of fire. They have been used in many consumer and industrial products since the 1970s, to decrease the ability of materials to ignite; these are the main factors that have considerably increased the demand for the Flame Retardants in the market, thereby driving the huge growth of the Flame Retardants market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Flame Retardants in the market is mainly due to the growing usage of fire-resistant products in various end-use industries, such as electrical & electronics, transportation, construction, and others. These industries are increasingly using flame retardant-based materials to meet the fire safety and prevention regulations. The product demand is also fuelled by the growing awareness among consumers about improving the fire safety of combustible materials and products. In offices and homes, flame retardants eliminate the risk of fire from an increasing number of electrical and consumer goods. Majorly driven the market for the development of safer alternatives, such as phosphorous, bromine, and chlorine-based non-halogenated flame retardants. The shifting trend toward the replacement of halogenated flame retardants has mainly driven innovation for new non-halogenated products as it promotes environmental sustainability. For instance, GYC Group, a manufacturer of specialty chemicals and fire resistance products, offers a wide range of halogen-free product; these are the main factors that have considerably increased the demand for the Flame Retardants in the market, thereby driving the huge growth of the Flame Retardants market in the upcoming years

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Report is segmented as:

Flame Retardants Market is segmented on the basis of by:

By Product (Phosphorous flame retardants, ATH, Brominates flame retardants and Chlorinated flame retardants)
By Application (Epoxy, Polyolefin, PVC, Epoxy and Polyamide)
By End User (Textiles, Automotive, Building & Construction and Others)
Geographical Segmentation:

Flame Retardants Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Flame Retardants is due to the rise in the disposal income these are the main factors that have considerably increased the demand for the Flame Retardants in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Flame Retardants Market

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Impact of COVID-19 on Market

The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate have an effect on of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increase opportunities. COVID-19 will have an occasional have an effect on the Flame Retardants market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Flame Retardants market growth

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