Global Flame Retardant Masterbatches Market To Be Driven By The Issue Of Material Flammability In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Flame Retardant Masterbatches Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global flame retardant masterbatches market, assessing the market based on its segments like type, resin, end-use industry, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2020): USD 1891 Million
Forecast CAGR (2023-2028): 10.2%
The market is being driven by continued attempts to reduce fire incidents, as well as by advancements being made to improve the efficiency of flame retardant masterbatches. Because of the changing usage of materials and products, many sectors are experiencing new fire risk situations. Fire hazards are caused by using plastic materials to replace older construction elements, especially in the building and construction sector, where convenience of installation takes precedence above fire safety considerations. Moreover, as more people relocate to the suburbs, there may be an increase in natural fire losses. Flame retardant masterbatches market participants are expected to benefit from such circumstances.
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Industry Definition and Major Segments
Flame-retardant masterbatches are employed in plastics to prevent detonation or the spread of flame. Plastics are widely used in critical construction, electrical, and transportation applications that must adhere to fire safety regulations.
The industry can be broken down based on type into:
Alumina Trihydrate (ATH)
Based on resin, the market is bifurcated into:
The market can be categorized by end-use industry into:
Building and Construction
Electrical and Electronics
Regionally, the industry is segmented into:
Middle East and Africa
Recently, some key industrial developments have showcased the potential to drive the growth of the market over the forecast period. For example, BASF AG exhibited prototypes of its particle foam-based polyethersulfone (PESU), which the firm says is the world’s first, following two years of intense study. The foam has several unique properties, including intrinsic flame retardancy and high-temperature tolerance.
Key Market Players
The major players in the market are Albemarle Corporation, BASF SE, Clariant, Nouryon, LANXESS, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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