Technavio Announces the Publication of its Research Report Global Flame Retardants Chemicals Market 2016-2020
Technavio recognizes the following companies as the key players in the global flame retardants chemicals market: American Underwater Products, Aqua Lung, Cressi, Tabata, and Wilderness Systems.
Other prominent vendors in the market are: Apollo Sports USA, AQUATEC – DUTON INDUSTRY, BAUER COMPRESSORS, Beuchat International, Billabong, Body Glove, Dive Rite, Johnson Outdoors, Mares, and Sherwood Scuba.
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Commenting on the report, an analyst from Technavios team said: One of latest trends in the market is growing demand for nonhalogenated flame retardants. Nonhalogenated flame retardants are nontoxic and environment-friendly. They are manufactured using phosphorus, nitrogen, metal hydroxides, magnesium hydroxides, and boron-based flame retardants. These chemicals are commonly used in plastics, rubber, and textile materials used in the construction, transportation, electricals and electronics, wires and cables, and textile industries.
According to the report, one of the primary drivers in the market is rising demand for plastics. Flame retardant chemicals are added to plastics and polymers for delaying combustion in case of fire. Plastics are widely used in packaging, construction, electricals and electronics, automotive, and many other industries. The global market for plastics is growing significantly and will exceed $650 billion in terms of revenue and 340 million metric tons by volume in 2020. Among all the plastic additives, flame retardant chemicals have the highest growth potential and is expected to grow at a CAGR of 5.5% during 2016-2020.
Further, the report states that one major challenge in the market is increasing raw material prices, decreasing demand. Flame retardant chemicals are made of bromine, chlorine, aluminum, phosphorus, magnesium, and others. The prices of raw material prices and transportation costs associated with the production and supply of these chemicals pose a significant challenge to the market growth. Established vendors in the market are forced to increase the price of their products to sustain in the competitive market and to offer products that comply with the international standards and regulations. Few end users may not buy the product due to elevated costs, thereby hindering the market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Flame Retardants Chemicals
Flame retardant chemicals are added to flammable materials to offer resistance to ignition and for inhibiting or delaying combustion. Bromine, chlorine, phosphorus, aluminum, magnesium, melamine, antimony oxide, and boron are widely used for manufacturing flame retardants. Brominated and chlorinated flame retardants are grouped under halogen-containing flame retardants, while aluminum hydroxide and phosphorus-based flame retardants are grouped under nonhalogenated ones. Antimony oxide acts as a catalyst that enhances the flame retarding property of other flame retardants.
Technavios analysts forecast the global flame retardants chemicals market to grow at a CAGR of 7.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global flame retardants chemicals market for 2016-2020. To calculate the market size, the report includes a detailed discussion of the major drivers influencing the market growth and the challenges faced by the vendors and the market as a whole.
The market is divided into the following segments based on geography:
Technavio’s report, Global Flame Retardants Chemicals Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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