The global flame retardant plastics market is forecasted to attain a value of USD 61.87 Billion by 2027 with a CAGR of 3.8%. The flame retardant plastics market has wide applications in aerospace & defense, electrical & electronics, wire & cable, pipe & tank, transportation, building & construction, and marine. Factors such as growing demand from the aerospace and defense sector, increasing demand from the electrical & electronics sector, rising demand for thermoplastics to reduce carbon emission, and increased investments would drive the market growth in the forecast period.
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The Flame retardant plastics market report is an investigative study encompassing industry insights along with crucial market data such as facts and figures, technological and product advancements, and analysis of key segments. The important data is gathered through rigorous primary and secondary research and the information is further validated and verified by industry experts and professionals. The report offers a panoramic view of the industry with a special focus on global and regional segments.
By polymer type, polyurethanes accounted for the largest market share of over 28% of the flame retardant plastics market in 2019. Polyurethanes have wide applications in the building & construction and automotive & transportation industry. Thermosets are projected to grow at a faster rate of 5% during the forecast period. The aerospace & defense industry has accounted for the largest market share of over 23% in 2019 and is expected to be the dominating sector for consumption during the forecast period.
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The Asia Pacific market accounted for the largest share in 2019, owing to the growth of electronics, electrical, and automotive industries in the region. Besides, the growing construction industry in the countries of the region, mainly in China and India, has been an extra boost for the growth of the demand for flame retardant plastics.
Europe was the second-largest shareholder of the market in 2019 and is expected to grow further during the forecast period owing to the growth of the aerospace and construction industry in the region.
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Key Features of the Report:
- Holistic view of the Flame retardant plastics market and key segments
- Examination and identification of the growth prospects, market drivers and trends, and potential opportunities
- Assessment and analysis of the micro and macro-economic factors
- Competitive landscape benchmarking
- Extensive regional analysis
- Product types and application spectrum segmentation and analysis
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