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China .... to see biggest demand for flame retardants.

Global flame retardants' market to hit $7bn

DUBAI, April 16, 2015

Global demand for flame retardants is projected to expand 4.6 per cent per year through 2018 to 2.8 million metric tonne, valued at $7 billion.

The gains will be stimulated by an acceleration in electronic product, motor vehicle, and wire and cable production, particularly in the US, Western Europe, and Japan as they recover from the recession-impacted 2008-2013 period, said a report by Freedonia Group, an US-based industry market research firm.

In industrialising countries, the stricter enforcement of building codes will increase the market penetration for flame retardants in building materials, fueling sales increases, it stated.

According to Freedonia, the sales of flame retardants utilised in construction applications will record the strongest growth of any major market in the next three years.

The construction market will also account for the largest share of demand with 28 per cent of the global total.

A sizable rebound in US construction spending and rising flame retardant utilisation rates in developing countries will spur demand, said the US research firm.

As populations in developed and developing countries alike become more concentrated in urban centres, it will be increasingly important to strictly enforce building codes to reduce incidences of fire, bolstering flame retardant sales in such products as foamed plastic insulation and vinyl flooring.

This will stimulate demand in related markets as well, increasing utilization in furniture, home electronics, and wire and cable.  

Alumina trihydrate (ATH) was the most widely-used flame retardant in 2013, accounting for nearly one-third of global demand, and is expected to retain its dominance in the product mix, the study added.

According to Freedonia, China will post the fastest growth in demand of any major national market and retain its position as the largest, accounting for nearly one-third of 2018 global flame retardant consumption.

India and Thailand will also post strong demand gains, it added.

According to analyst Zoe Biller, the rising urbanization, along with climbing personal incomes in these nations, will stimulate a heightened awareness of fire safety and more strictly enforced building codes.
 
"Central and South America and the Africa/Mideast region will also record above average sales increases for flame retardants," he stated.

Demand in North America will rise at a faster pace than other developed areas due to a rebound in the US construction market, but will remain below the global average.

Flame retardant markets in Western Europe and Japan, while returning to growth after 2008-2013 declines, will nevertheless trail the world pace of advance by considerable margins, he added.-TradeArabia News Service




Tags: US | Europe | flame retardants |

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