The global flame retardant masterbatch market is likely to record a strong CAGR of 10.2% during the forecast period. The global flame retardant masterbatch market is currently valued at US$ 2530.67 Mn in 2022 and is likely to reach US$ 6684.23 Mn by 2032.
Report Attribute
Details
Estimated Base Year Value (2022)
US$ 2530.67 Mn
Anticipated Forecast Value (2032)
US$ 6684.23 Mn
Projected Growth Rate (2022-2032)
10.2% CAGR
Sales of global flame retardant masterbatch have risen due to its usage in electronics and automotive applications.
Increase in demand for plastics for automotive applications is also projected to contribute to the growth of the global flame retardant masterbatch market share.
The report sheds light on the factors improving the sales of global flame retardant masterbatch, and, in turn, the opportunities for market players. However, the global flame retardant masterbatch market also faces some challenges, which might limit the global flame retardant masterbatch market share from reaching its potential.
Some of the key global flame retardant masterbatch market trends promoting the demand for global flame retardant masterbatch includes the implementation in order to impart the flame resistivity and thermos stability into plastic material.
What are the Key Dynamics to the Global Flame Retardant Masterbatch Market Share?
Over the recent past, there has been significant growth in the automotive vehicle production, especially electric vehicles, owing to which demand for plastic materials is increasing incessantly which in turn is expected to drive the demand for global flame retardant Masterbatch market.
Along with this, Flame retardant Masterbatch is preferred in several applications, such as building & construction, household appliances and many other appliances.
Thus, growing Infrastructure development in developing and developed countries such as India and China and Brazil, among others is the key factor driving growth of the building and construction industry.
Attributing to this, the demand for plastic products is rising significantly which in turn is expected to drive the sales of global flame retardant Masterbatch.
In Europe, various regulations such as REACH and WEEE (Waste Electrical and Electronic Equipment) restrict the use of brominated and chlorinated flame retardant Masterbatch as they adversely affect the environment.
Owing to this, the use of halogenated flame retardant Masterbatch is highly regulated in Europe, which is subsequently affecting the demand for global flame retardant Masterbatch in plastic processing.
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Which Region holds the Highest Growth Potential in the Global Flame Retardant Masterbatch Market?
Europe is expected to witness significant growth opportunities in the global flame retardant masterbatch market.
With stringent government regulations, the sales of flame retardant Masterbatch is gaining traction in applications, such as automotive, building & construction, to name a few.
Europe holds a significant share in global automotive production. Production of passenger cars in Europe increased by 2.6% Y-o-Y between 2017 and 2018.
Further, stringent government norms pertaining to CO2 emission and pollution control promote reduction in vehicle weight so as to increase vehicle efficiency.
Attributing to which, the demand for high performance plastics has increased in vehicle interiors and exteriors. This, in turn, has led to the increase in demand for flame retardant Masterbatch to impart thermal stability into plastics for the automotive industry.
Prompt growth of plastic and packaging sectors in APAC is in turn expected to drive the sales of flame retardant Masterbatch.
In APAC, China is a major manufacturer of plastic and contributed over 27% to the global plastic production in 2017. Further, the growing demand for various high performance plastic materials with functional properties for various end-use applications will subsequently result in increased demand for flame retardant Masterbatch.
How is the Competitive Landscape in the Global Flame Retardant Masterbatch Market?
The key players of the global flame retardant masterbatch market are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use to thrive business. This is driving the global flame retardant masterbatch.
Find your sweet spots for generating winning opportunities in this market.
Some of the key participating players indulged in the sales of global flame retardant masterbatch are
Albemarle Corporation
Ampacet Corporation
BASF SE
Clariant International AG
Cromex S/A
DIC Corporation
Dongguan GreenTech Plastics Co., Ltd
DOVER CHEMICAL CORPORATION
FERRO-PLAST Srl
LANXESS AG
Nouryon
Polyplast Muller GmbH
Polytechs
Tosaf
These market players are anticipated to drive the global flame retardant masterbatch market by introducing new products and expanding geographically.
Report Scope
Report Attribute
Details
Growth Rate
CAGR of 10.2% from 2022 to 2032
Base year for estimation
2022
Historical data
2015 – 2021
Forecast period
2023 – 2032
Quantitative units
Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
Compound type, End Use, Region
Regional scope
North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Japan; Middle East and Africa (MEA)
Country scope
U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K, Spain, Poland, Russia, India, China, ASEAN, Japan, Australia & New Zealand, GCC Countries, South Africa, North Africa
