India Flame Retardants Market to be Dominated by Non-Halogenated Segment Through 2028
Growing demand from end-user
industries and increasing fire safety regulations drive the demand for the
India flame retardants market in the forecast period, 2024-2028.
According to TechSci Research
report, “India Flame
Retardants Market - By Region, Competition Forecast and Opportunities, 2018-2028F",
The Indian flame retardants market is anticipated
to increase at an impressive rate in the forecast period, 2024-2028. Flame
retardant chemicals are compounds that are added to or incorporated into
compounds to delay or prevent the spread of fire accidents. They are primarily
used in building and construction materials, electronics and electrical
equipment, furniture, and transportation. The volatile cost of the product and
the adverse impact on the human being, especially children, are factors
hindering the Indian flame retardants market growth.
India is a major country
in the manufacturing and construction sector due to its growing economy. This
led to growing demand from different end-user, such as electronics and
electrical devices for computers, laptops, phones, televisions, and household
appliances, and cables. In building and construction materials, it includes
electrical wires & cables and insulation materials like polystyrene and
polyurethane insulation foams. Apart from these, government policies such as
the National Building Code of India contain necessary guidelines that citizens should
follow in their residential or commercial places. This has significantly increased
the demand for the flame retardants market in the projected period.
Browse over XX market data Figures spread through XX
Pages and an in-depth TOC on "India Flame Retardants Market."
The India flame retardants market is segmented based on
type, application, end-user industry, and region.
Based on type, the
market is bifurcated into halogenated and non-halogenated. The non-halogenated
segment is expected to hold the largest market share in the projected year. Due
to its non-toxic and environmentally friendly benefits such as not releasing
harmful gases during combustion, it is used in textiles, interior, wood,
cellulosic-based products, and paint because of the growth of these
applications in India. Thus, non-halogenated flame retardants dominate the
segment.
Based on application,
the market is divided into polyolefins, epoxy resins, PVC, rubber, and others.
The epoxy resins segment is expected to hold the largest market share in the projected
year. Owing to its versatile properties, it’s getting high demand from the
automobile and electronics industries. Meeting safety measures set out in the
benchmark led to the increasing demand for epoxy resins in the flame retardants
market, dominating the segment.
Based on end-user, the
market is divided into building & construction, electronics &
appliances, automotive & transportation, and others. As per estimates, the
building & construction segment is going to experience the highest market
share during the forecast period. The demand for building &
infra-construction is rising due to the growing population and purchasing
power. Thus, to make the building fireproof, the demand for flame retardants is
expected to increase and dominate the segment.
Major companies operating in India
flame retardants market are:
- Clariant Chemicals
India Ltd
- LANXESS India
- Hindalco Industries
Limited
- KPL International
Limited
- Acuro Organics
Limited
- Nano Tech Chemical
Brothers
- Niknam Chemicals
Private Limited
- Albemarle (Rockwood
Lithium India Pvt. Ltd.)
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"The West region is
expected to dominate India's flame retardants market in the projected period
due to its favorable government investment policy, construction activities, and
growing manufacturing unit. The flame retardants market is anticipated to
increase due to the demand from end-user industries, growing awareness, and
increasing fire safety regulations. People are now more concerned about their
life and taking preventive measures to tackle causalities due to fire outbreaks
by using flame retardants as insulation material.
Poor construction layout,
growing disposable income, and growing awareness are the factors that drive the
flame retardants market in the construction sector. Additionally, the demand
for flame retardants from the automobile sector is going to increase for the
production of seats, seat covers and fillings, bumpers, overhead compartments,
and other parts of automobiles. In addition, government initiatives like Made in
India, National Building Code, and others are propelling the demand in the
flame retardants market. All the factors as mentioned above are projected to
impact India's flame retardants market growth until 2028." said Mr. Karan Chechi,
research director with TechSci research, a research based global management
consulting firm.
“India Flame
Retardants Market By Type (Halogenated v/s Non-Halogenated), By Application
(Polyolefins, Epoxy Resins, PVC, Rubber, Others), By End User Industry
(Building & Construction, Electronic & Appliances, Automotive &
Transportation, Others, By Region, Competition, Forecast and Opportunities,
2028F has
evaluated the future growth potential of India flame retardants Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Flame Retardants market.
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