San Francisco, California, July 11, 2018: The global flame retardants chemical market growing at a considerable rate. Flame retardant chemicals which are added to consumer goods like furniture, coverings for electronic goods, baby products, and clothing in order to lessen their flammability is a result for increase in the awareness of fire safety reports TMR Research in their report titled “Flame Retardants Chemical Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.Best known example of Flame retardant chemical is polybrominated diphenyl ethers (PBDEs), which finds its usage in consumer products such as building materials, airplanes, furnishings, and electronics goods.
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Increase in the rules and regulation to fire safety and increase in the use of electrical and electronics goods which tends to catch fire easily has proved to be important drivers in the market. The usage of flame retardants chemical are used to flourish the end market industries such as that of home furnishings and automobile industries. The rise in automobile and home furnishing due to the increase in the disposable income of an average household in countries such as China and India, have proved to bolster the growth of the market. Despite the growth, the market is unable to live up to its expectations as the ever rising cost of raw materials and the toxicity issues with the product. The brominated flame retardants which includes PBDES consists of chemicals can cause of cancer and thyroid.
An ongoing trend in the market is that the organizations are siphoning money into research and development, so that the researchers can come up with a less toxic chemicals and could comply with the strict rules regulations to the fire safety. The flame retardants chemical market is expected to grow over the forecast period, due to never ending demand for construction and electronics products. India and China which are expected to stoke the market with their rise in automobile, electronics, and construction market.
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Some of the key players in the markets are Clariant AG, BASF SE, Albemarle Corp., Akzo Nobel N.V., laxness AG, and Du Point.