Expansion of the Construction Sector in Developing Countries Expands Flame Retardants Market

In 2021, the flame retardants market generated $7,565.1 million, progressing at a 5.3% rate from 2021 to 2030, to hit the $12,028.4 million revenue in 2030, owing to technological advancements, rising research & development activities, and expanding end-use industries. In addition, the increased strictness of regulations on fire safety in various countries boosts the market.

Moreover, the non-halogenated flame retardants hold a substantial share of the flame retardants market, and it is expected to rise by 5% in the near future, as these chemicals possess smoke suppression, thermodynamic characteristics, along with exceptional flame retardancy, resulting in their increased preference for anti-fire applications across industries.

Additionally, the massive popularity of these chemicals is attributed to government initiatives led by increasing environmental concerns to minimize the halogenated compounds. These compounds adversely impact humans causing various health disorders such as pneumonitis, airway obstruction, dyspnea, airway obstruction, pulmonary edema, and ARDS.

Furthermore, the non-halogenated flame retardants based on phosphorus are expected to witness significant consumption in the flame retardants market in the coming years, ascribed to the non-toxic nature and thermal stability of these materials. In addition, rising concerns over the harmful effect of halogenated chemicals cause a surge in the several aromatic phosphates development.

The rising strictness of worldwide fire safety standards and regulations is predicted to result in an increasing requirement for flame retardants. For example, the general fire safety in England and Wales is governed by the Regulatory Reform Order 2005. Similarly, the general fire safety requirements in Scotland are covered in Part 3 of the Fire Act, which is a supplement to the Fire Safety Regulations 2006 of the country.

Flame Retardants Market Size and Share Analysis@ https://www.psmarketresearch.c....om/market-analysis/f