The report "Halogen-Free Flame Retardants Market by Type (Aluminum Hydroxide, Organophosphorus),
Application (Polyolefins, UPE, ETP, Styrenics), End-Use Industry (Electrical
& Electronics, Construction, Transportation), Region - Global Forecasts to
2025" The halogen-free flame retardants market is
projected to reach USD 6.2 billion by 2025, at a CAGR of 8.60% from USD 4.1
billion in 2020 .
Browse 244
market data Tables and 59 Figures spread through 223 Pages and
in-depth TOC on "Halogen-Free
Flame Retardants Market by Type (Aluminum Hydroxide, Organophosphorus),
Application (Polyolefins, UPE, ETP, Styrenics), End-Use Industry (Electrical
& Electronics, Construction, Transportation), Region - Global Forecasts to
2025"
Impact of COVID-19 on
halogen-free flame retardants market.
The COVID-19
pandemic has impacted the growth of the APAC halogen-free flame retardants
market, owing to which the market is expected to witness negative growth in
2020. According to the IMF, the GDP growth rate of the region will fall to 0%
in 2020. China, India, and South Korea will also have slow economic growth. The
GDP growth rate in China is expected to drop to 1.2% in 2020.
China was the epicenter of COVID-19 at first. The government quarantined millions of people, thus putting a pause on all supply chains dependent on China. The travel bans and lockdown imposed in most of the major cities in China have reduced the production of oil in the country. It has also affected the workforce community, without which many ports, such as Shenzhen and Shanghai, are closed for operations. However, the country is showing signs of recovery after a lockdown of three months. Most of the businesses have now reopened.
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In Japan, major
construction projects are on hold due to disturbances in the supply chain and
the unavailability of labor. However, the Tokyo Olympics and Paralympic Games,
which are postponed for 2021, are expected to boost the economy, thus driving
the halogen-free flame retardants market.
In
India, the government has allowed construction activities with all the required
safety measures. This is expected to support the economy of India. The country
has more than USD 70 billion worth of ongoing construction projects, which are
expected to drive the adoption of halogen-free flame retardants.
Key Market Players
The key market
players profiled in the report include as Clariant
AG (Switzerland), Lanxess AG (Germany), Israel Chemicals Ltd. (Israel),
Nabaltec AG (Germany), BASF SE (Germany), Italmatch Chemicals s.p.a.(Italy),
Dupont De Nemours Inc. (US), RPT Company (US) and Huber Engineered Materials
(US) among others.
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