The increasing demand for resistant materials, especially from the construction industry, is a key factor driving the global flame retardant chemicals market, says Fortune Business Insights™ in a report, titled “Flame Retardant Chemicals Market Size, Share & Industry Analysis, By Type (Brominated Flame Retardants, Chlorinated Flame Retardants, Antimony Oxide, Aluminium Hydrates, Phosphorous Flame Retardants, Others), By End-Use Industry (Construction, Electrical & Electronics, Textiles, Automotive & Transportation, Others) and Regional Forecast, 2019-2026” the growing demand from the electrical & electronics end-use industry is expected to create lucrative growth opportunities for the market in the Forthcoming years.
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List of prominent companies that are operating in the global Market are:
- Schulman Inc.
- Adeka Corporation
- Albemarle Corp
- Buckman Laboratories International Inc
- Campine NV
- Clariant AG
- Daihachi Chemical Industry Co Ltd
- DIC Corporation
- Huber Engineered Materials
- ICL Industrial Products.
According to the report, the Global flame retardant chemicals market based on type is divided into flame retardants, chlorinated flame retardants, antimony oxide, aluminum trihydrate, phosphorus flame retardants, and others. The increasing demand for aluminum trihydrates from the construction industry is predicted to aid the flame retardant chemicals market growth.
Phosphorous flame retardant is the most commonly used chemicals for the protection of plastics based materials. Furthermore, the growing demand for the brominated flame retardants is expected to boost the global flame retardant chemicals market trends. The construction segment is expected to dominate owing to the increasing demand for fire-resistant building materials from the construction industry.
The report is created after extensive research and analysis. Factors that influence the market growth of a particular segment and product type are mentioned in detail. An in-depth study of the global market trends to help companies, stakeholders, and investors understand various applications and features of the product. Readers looking for scope of growth with respect to product categories can get all the desired information over here, along with supporting figures and facts.
Announcement for New Credit Facility by Lanxess to Boost Growth Prospects
Lanxess, a German specialty chemicals company based in Cologne, signed for a sustainable credit facility of €1 billion to fulfill ESG (Environment, Social & Governance) criteria. The agreement of a new credit facility, featuring 12 banks that will help in the reduction of greenhouse emissions. The new credit facility has an initial term of five years and two options for one-year extensions. Furthermore, the company declared it will eradicate the greenhouse gas emissions of currently around 3.2 million metric tons of CO2 by 2040. The launch of the new facility is expected to augur well for the flame retardant chemicals market growth in the foreseeable future.
Furthermore, the award won by project partners Clariant and GETEC is expected to create sales opportunities for the market in the foreseeable future. For instance, in November 2019, the project partners Clariant and GETEC won the highly prestigious Energy Efficiency Award from the German Energy Agency (dena) in the category “Concepts for “increasing energy efficiency.” The prize was awarded for the efficient energy solution in a joint project in Podari, Romania. The joint project includes the construction of commercial-scale bioethanol production plant by Clariant.
SCHULMAN’s Merger with LyondellBasell to Enhance Market Potential
Schulman, Inc., an American company, dealing in plastic compounding products, color concentrates, and additives announced the merger agreement with LyondellBasell. The agreement includes the approval of A. Schulman stockholders for LyondellBasell Industries N.V. to obtain all of the outstanding shares of A. Schulman common stock. The merger between the two companies is predicted to facilitate the global flame retardant chemicals market growth during the forecast period.
Major Segments Includes:
- Brominated Flame Retardants
- Chlorinated Flame Retardants
- Antimony Oxide
- Aluminium Hydrates
- Phosphorous Flame Retardants
By End-Use Industry
- Electrical & Electronics
- Automotive & Transportation
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Technological Advancements to Create Growth Opportunities in North America
Asia Pacific is expected to grow significantly during the forecast period owing to rising demand from the packaging and textile industries, mainly in countries such as China, India, Japan. Furthermore, the growing population and improving lifestyle is likely to contribute positively to the flame retardant chemicals market share. In North America, technological advancement and rising production capabilities will bode well for the market in the region. Latin America and Africa is expected to grow considerably during the forecast period due to increasing demand from various end-use industries.
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