According to a new market report published by Lucintel, the future of the organophosphorus flame retardant market looks good with opportunities in the building and construction, electrical and electronics, and transportation segment. The global organophosphorus flame retardant market is expected to reach an estimated $2.0 billion by 2021 and is forecast to grow at a CAGR of 6.2% from 2016 to 2021. The major drivers of growth for this market are stringent government regulations related to prohibition of polybrominated diphenyl ethers (PBDEs), growing awareness on fire safety, and increasing market penetration of organophosphorus flame retardants in various end-use industries.
Organophosphorus flame retardants are used in a variety of applications, such as polyolefin, epoxy, rubber, unsaturated polyester resin, polyvinyl chloride and others. Lucintel predicts that the demand for engineering thermoplastics is likely to experience the highest growth in the forecast period supported by growing demand in end product manufacturing.
Within the organophosphorus flame retardant market, the building and construction segment is expected to remain the largest market by value and volume. Stringent government regulations related to prohibition of the use of halogenated flame retardants are expected to spur growth for this segment over the forecast period.
North America is expected to emerge as the largest region due to government initiatives and inclination of original equipment manufacturers (OEMs) towards sustainable and safer alternatives of halogenated flame retardants leading to wider acceptance of organophosphorus flame retardants in various end-use industries.
Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of growing awareness related to fire safety and growth in construction, electrical and electronics, and transportation sector.
For business expansion, report suggests innovation and new product development, where the unique characteristics of organophosphorus flame retardants can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
Emerging trends, which have a direct impact on the dynamics of the industry, include the growing focus on innovation and product development to intensify the penetration level and long-term sustainability and original equipment manufacturers (OEMs’) commitment towards the use of non-halogenated flame retardants. Israel Chemicals Ltd., Clariant, Chemtura Corporation, Lanxess, and THOR group are among the major suppliers of the organophosphorus flame retardants. Several of these companies are seeking mergers and acquisitions as strategic initiatives to drive growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global organophosphorus flame retardant market by end-use industry, application, and region and has come up with a comprehensive research report, “Global Organophosphorus Flame Retardant Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the organophosphorus flame retardant market by end-use industry, application, and region as follows:
By end-use industry [Volume (M lbs/Kilotons) and $M shipment analysis for 2010 – 2021]:
· Building and Construction
· Electricals and Electronics
· Transportation
· Others
By application [Volume (M lbs/Kilotons) and $M shipment analysis for 2010 – 2021]:
· Polyurethane (PU)
· Polyvinyl chloride (PVC)
· Engineering thermoplastics (ETPs)
· Acrylonitrile butadiene styrene (ABS)
· Others
By region [Volume (M lbs/Kilotons) and $M shipment analysis for 2010 – 2021]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
This 211-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/organophosphorus_flame_retardant_market_2016-_2021.aspx or helpdesk@lucintel.com.
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