Lucintel Forecasts the Global Organophosphorus Flame Retardant Market to Reach $2 Billion by 2030
Lucintel Forecasts the Global Organophosphorus Flame Retardant Market to Reach $2 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global organophosphorus flame retardant market looks promising with opportunities in the building and construction, electrical and electronics, and transportation industry. The global organophosphorus flame retardant market is expected to reach an estimated $2 billion by 2030 at a CAGR of 2% from 2023 to 2030. The major drivers for this market are increasing regulatory requirement, growing demand for fire safety, and rising technological advancement.
Browse 65 figures/charts and 42 tables in this 156–page report to understand trends, opportunity and forecast in global organophosphorus flame retardant market to 2030 by application type (polyurethane, polyvinyl chloride, engineering thermoplastics, acrylonitrile butadiene styrene, others), end use industry (building and construction, electricals and electronics, transportation, others), and region (North America, Europe, APAC and the Rest of the World).
Lucintel predicts that the polyurethane segment is expected to remain as the largest market by value and volume due to widespread adoption of organophosphorus flame retardants (OPFRs) in polyurethane (PU) foam for furniture and upholstery applications is driven by the imperative to enhance fire resistance, ensuring compliance with stringent safety regulations and reducing the risk of fire-related incidents in residential, commercial, and public environments.
Within this market, building and construction is expected to be the largest segment by end use industry due to stringent fire safety regulations and the need to enhance the flame resistance of construction materials.
Asia Pacific is expected to emerge as the largest market due to rebound production in electrical and electronics in countries such as China, India, and South Korea, along with high plastic consumption.
Israel Chemical, Clariant, Lanxess, Thor Specialties, Daihachi Chemical are the major suppliers in the organophosphorus flame retardant market.
This unique 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 write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056