The flame retardant chemicals market was estimated to be worth $4,792.5 million in terms of revenues in 2011 and is expected to reach $7,131.9 million by 2017, growing at a compound annual growth rate (CAGR) of 6.9% from 2012 to 2017.
With increasing fire safety standards across the globe and growing use of flammable materials, flame retardant chemicals are gaining more and more importance in the market.
The building and construction industry is the largest end-use application for flame retardant chemicals. Increasing fire safety regulations and fire safety standards for residential, commercial as well as infrastructural construction are expected to fuel consumption growth of the flame retardant chemicals market within building and construction.
Flame retardants can be defined as additive materials used to inhibit flames and to stop the magnification of burning. These are materials with large non-inflammable effect such as halogen, phosphorus, nitrogen containing compound, and hydroxide metallic compound.
Asia-Pacific is one of the most dominant regions within the flame retardant chemicals market, accounting for 48.5% of the global volume consumption in 2011. It is the fastest growing region for the flame retardant chemicals market both in terms of production and consumption. The growth in the Asia-Pacific market is expected to be fuelled by countries like China and India.
For more information on the flame retardant chemicals market, see the latest research: Flame Retardant Chemicals Market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.