The APAC flame retardant chemicals market is expected to register a CAGR of around 6%, during the forecast period, 2018 to 2023. China accounted for the largest market in 2017. China is also expected to register the fastest growth during the forecast period.
Rising Consumer Electrical & Electronic Goods Manufacturing
Flame retardant chemicals play a significant role in the electrical and electronics market. Electrical fires are one of the major sources of household and industrial fires around the world. The use of flame retardant chemicals can lead to a decrease in the same. Flame retardant materials find use in electrical equipment, right from the smallest components of a computer to large electrical grids. Flame retardant chemicals increase resistance to both internal and external heat sources. The electronics industry in Asia-pacific has been growing at the rate of 6% for the past couple of years and is estimated to continue the growth rate over the next few years. With the increased focus on their manufacturing industry, countries, like China, India, and ASEAN countries are offering various incentives to the companies, and electronics companies are heavily investing in the country. Therefore, the rising electronics and electronic goods manufacturing is expected to drive the flame retardant chemicals market during the forecast period.
Buildings & Construction to Dominate the Market
Flame retardant chemicals are commonly used in building materials to meet the important fire safety standards and codes. Flame retardant chemicals increase the threshold temperature of the material at which it catches fire, and reduce the rate of spreading of fire along with providing the critical escape time required to escape from the surroundings. The stringent building standards and the increase in usage of materials, such as vinyl flooring, foam insulation, and plastic roofing, particularly in the developing countries, such as China and India, offer an exciting prospect for the development of the flame retardant chemicals market. Thus, the growth in the construction sector is expected to certainly boost the growth of the Asia-Pacific flame retardant chemicals market during the forecast period.
China to Dominate the Market
In 2017, China held the highest market share, accounting for more than 40% of the Asia-Pacific market. China is one of the major countries in Asia-Pacific, with ample construction activities being supported by the growing economy. Despite the volatile growth in real estate sector, the significant development of rail and road infrastructure by the Chinese government to withstand the growing industrial and service sectors has resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country. This, in turn, is expected to promote growth for the flame retardant chemicals market.
Major Players: BASF SE, LANXESS, Clariant, ICL, Sumitomo Chemical Co., Ltd., and Jiangsu Yoke Technology Co., Ltd., amongst others.
Reasons to Purchase this Report
The rising consumer electrical & electronic goods manufacturing that is expected to drive the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Type, and end-user industry that is expected to dominate the market
Country that is expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
This product will be delivered within 2 business days.
Rising Consumer Electrical & Electronic Goods Manufacturing
Flame retardant chemicals play a significant role in the electrical and electronics market. Electrical fires are one of the major sources of household and industrial fires around the world. The use of flame retardant chemicals can lead to a decrease in the same. Flame retardant materials find use in electrical equipment, right from the smallest components of a computer to large electrical grids. Flame retardant chemicals increase resistance to both internal and external heat sources. The electronics industry in Asia-pacific has been growing at the rate of 6% for the past couple of years and is estimated to continue the growth rate over the next few years. With the increased focus on their manufacturing industry, countries, like China, India, and ASEAN countries are offering various incentives to the companies, and electronics companies are heavily investing in the country. Therefore, the rising electronics and electronic goods manufacturing is expected to drive the flame retardant chemicals market during the forecast period.
Buildings & Construction to Dominate the Market
Flame retardant chemicals are commonly used in building materials to meet the important fire safety standards and codes. Flame retardant chemicals increase the threshold temperature of the material at which it catches fire, and reduce the rate of spreading of fire along with providing the critical escape time required to escape from the surroundings. The stringent building standards and the increase in usage of materials, such as vinyl flooring, foam insulation, and plastic roofing, particularly in the developing countries, such as China and India, offer an exciting prospect for the development of the flame retardant chemicals market. Thus, the growth in the construction sector is expected to certainly boost the growth of the Asia-Pacific flame retardant chemicals market during the forecast period.
China to Dominate the Market
In 2017, China held the highest market share, accounting for more than 40% of the Asia-Pacific market. China is one of the major countries in Asia-Pacific, with ample construction activities being supported by the growing economy. Despite the volatile growth in real estate sector, the significant development of rail and road infrastructure by the Chinese government to withstand the growing industrial and service sectors has resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country. This, in turn, is expected to promote growth for the flame retardant chemicals market.
Major Players: BASF SE, LANXESS, Clariant, ICL, Sumitomo Chemical Co., Ltd., and Jiangsu Yoke Technology Co., Ltd., amongst others.
Reasons to Purchase this Report
The rising consumer electrical & electronic goods manufacturing that is expected to drive the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Type, and end-user industry that is expected to dominate the market
Country that is expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
This product will be delivered within 2 business days.
Table of Contents
1. Introduction
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
6. Regional Market Analysis (Market Size, Growth, and Forecast)
7. Competitive Landscape
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Akzo Nobel N.V.
- Albemarle Corporation
- BASF SE
- Clariant
- Daihachi Chemical Industry Co. LTD.
- DIC CORPORATION
- DowDuPont
- DSM N.V.
- Huber Engineered Materials
- ICL
- Italmatch Chemicals S.p.A.
- Jiangsu Yoke Technology Co. LTD.
- LANXESS
- MPI Chemie B.V.
- Nabaltec AG
- NIPPON CARBIDE INDUSTRIES CO. Inc.
- RIN KAGAKU KOGYO Co. LTD.
- RTP Company
- Shandong Brother SCIB&Tech. Co. LTD
- Solaris Chemtech
- Sumitomo Chemical Co. LTD.
- Thor
- TOR Minerals
- Tosoh Corporation
Methodology
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