According to this report, the global market for fire retardant chemicals is due to increase by 10% from 2015 to 2020. When there are significant fears over the toxicity of these chemicals, why are we being subjected to ever increasing volumes of them?
“Zion Research has published a new report titled “Flame Retardant Chemicals (Aluminum Trihydrate (ATH), Antimony Oxides, Bromine, Chlorine, Organophosphorus and Others) Market for Building & Construction, Electronics, Automotive & Transportation, Wires & Cables, Textiles, and Other End-users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, the global flame retardant chemicals market was valued at approximately USD 6.0 billion in 2014 and is expected to reach USD 10.0 billion by 2020, growing at a CAGR of around 10% between 2015 and 2020. In terms of volume, global flame retardant chemicals market stood at 2.5 million tons in 2014.
With increasing use of plastic and textile in large number of applications in host of industries such as building & construction, automotive, electrical & electronic is resulted into growing need for fire safety. However, toxicity issues related to use of halogenated flame retardants and high cost of non-halogenated flame retardants is expected to be major restraint of the global flame retardant chemical market. “
Written by – Joel John February 19th 2016