Flame Retardants Market Overview
Flame Retardants Market size was valued at USD 7.46 billion in 2020 and is forecast to grow at a compound annual growth rate (CAGR) of 8% from 2021 to 2028
The continuous and ongoing covid pandemic impacts the functioning of multiple industries and regions. It offers a harmful impact on people and private and government organizations. The covid 19 pandemic teaches the market to identify the supply and demand chain gap. The covid 19 report also helps you analyze the value of the Flame Retardants Market demand insights.
The flame retardants industry is categorized into two forms, namely — halogenated and non-halogenated flame retardants. But simultaneously offers some severe climatic, environmental, and health issues. Most countries like the Environmental Protection Agency (EPA), the European Union, and the US banned most halogenated flame retardants. These flame retardants are widely used in diverse end-use market applications and have gained prominent attention due to the growing flame retardant demand.
The global flame retardants market has multiple fields. The market is segmented based on the application, region, type, and resin.
Segmentation based on the type:
Based on the type, the flame retardants market forecast is segmented into halogenated and non-halogenated flame retardants.
Segmentation based on resin:
The flame retardants market share is segmented into polypropylene, polyethylene, unsaturated polyesters, styrene, rubber, epoxy, and polyvinyl chloride-based on the resin.
Segmentation based on the analysis:
The global flame market retardants the broad range of applications based upon the multiple segments. The market has segmented into the electrical and electronics, transportation and textiles, and electronics industry.
The Asian Pacific market holds the largest market share due to consumer electronics and automobile industries. The emerging countries that affect the market grew as a good rise in India, China, and Indonesia. The Asian Pacific market owns the largest market share, up to USD 4000 million, having a CAGR of 7.5% during the continuous period. After that, the European region is the second-largest market due to the construction. The European market has registered moderate growth with a CAGR of around 5.5% between 2019 to 2025.
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May 2021- J.M. Huber Corp, an Atlanta-based firm, has announced a definitive agreement with RHI Magnesita (RHIM) to acquire their 50% ownership stake in Magnifin Magnesiaprodukte GmbH & Co. KG. The deal will be finished in the second half of 2021, anticipating regulatory approvals.
Huber had initially finished the acquisition of over 50% ownership interest in Magnifin as a fraction of the purchase of the Martinswerk operation from Albemarle in 2016.
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