China Accounts For 24% Of Global Demand For Flame Retardants

Some of the main factors driving the flame retardant market are high demand for current and emerging applications, demand from emerging economies, technological advances, enhanced safety measures, and new regulatory guidelines to reduce toxic chemicals. Governments around the world are setting higher safety standards for soot and flammability in different products. Growth in the automotive, construction and other major end-use industries is increasing demand in the global flame retardant market. Nanotechnology is expected to play an important role in improving the performance of the flame retardant market in the coming years.
Key growth opportunities for the flame retardants market include equipment and electronics, automotive and construction in emerging economies, particularly in the expanding market for infrastructure applications. Growth in these areas in emerging economies is likely to increase the market demand for flame retardants and their base products.
The main factor limiting market growth is price increases, which could lead to a further drop in demand. Major manufacturers have raised prices in the flame retardant market due to rising raw material costs. In addition, there are toxicity issues in the production of flame retardants, which could further hinder the market.
The Asia-Pacific region is a large market for flame retardant sales. China alone accounts for about 24 per cent of global demand for flame retardants. China's high demand is driven by growth in the chemical and automotive industries. India is also expected to increase its share of the global market on the back of increased foreign investment, which will lead to an increase in the number of emerging industries in the country. Asia-pacific is expected to continue its leadership during the forecast period due to growing end-user markets in countries such as China and India.