The Worldwide Flame Retardants Industry is Estimated to Reach $2 3 Billion by 2026 at a CAGR of 7 2% from 2021 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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The halogen-free flame retardants market is estimated to grow from USD 4.1 billion in 2020 to USD 6.2 billion by 2025, at a CAGR of 8.60%.
The halogen-free flame retardants market is driven mainly by stringent regulations against use of toxic halogentated flame retardants. However, lower performance than halogenated flame retardants is expected to restrain the market growth.
The major application of flame retardants is in electric wire insulation in building & construction and transportation. Flame retardants are used in circuit boards, electronic casing, and cables & wire systems. Strict fire safety standards to reduce the spread of fires in residential and commercial buildings are driving the demand for halogen-free flame retardants.