APAC Is the Leading Flame Retardants Market

In 2021, the flame retardants market size stood at USD 7,565.1 million, which is projected to witness a 5.3% CAGR during 2021–2030, to reach USD 12,028.4 million by 2030, as per P&S Intelligence. This is credited to technological enchantments, rising end-use industries, and snowballing research and development activities. Furthermore, the growing strictness of regulations on fire safety in several countries boosts the market growth.

Furthermore, such chemicals are gaining traction, due to environmental initiatives taken by numerous governments to reduce the utilization of halogenated compounds, which have hostile effects on humans, such as airway obstruction, dyspnea, pneumonitis, acute respiratory distress syndrome, pneumonitis, hypoxemia, and pulmonary edema, and also surface ozone formation, which damages the air quality.

In 2021, the building and construction sector held the largest revenue share, of around 40%. The rising number of infrastructure events in developing nations, including India and China, is fuelling the demand for such chemicals.

Additionally, APAC is the biggest manufacturer of electronic products throughout the world, accounting for 70–75% of the global output. Japan, China, and South Korea manufacture a wide range of electrical components and supply them to various industries globally. 

Europe is the second-largest revenue generator in the market. This is because of the large transportation, textile, and automotive industries in the region. Moreover, nations like the U.K. and Germany invest an enormous amount in the construction sector, which supports the regional market growth.

Hence, technological advancements, increasing end-use industries, and snowballing research and development activities will drive the flame retardants market in the future.