A flame retardant masterbatch is a type of chemical applied to the surface to prevent it from fire hazards that can lead to the damage of life and property. There are different types of flame retardant masterbatchs that contain chemicals such as phosphorus, chlorine, nitrogen, bromine, boron, and other metals. Owing to their superior fire resistant properties, they are extensively adopted in several industrial applications such as furniture, electronics, consumer goods, and electronics.
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However, the flame retardant masterbatch Industry growth is likely to be hindered by the COVID-19 pandemic as lockdowns, social distancing, and trade restrictions have caused massive disturbances in the global supply chain networks. Production operations have slowed down as plants and factories are being forced to function with a reduced workforce. Together, these factors have shrunk the revenues of key players in this market, which will inevitably hamper investments in the market. Nonetheless, certain companies will also experience exponential growth owing to the escalating demand for packaged medical and pharmaceutical products, personal protective equipment, and packaged food & beverage items.
Increasing Adoption of Fire Safety Regulations to Augment Growth:-
According to the National Fire Protection Association (NFPA), the fire department responds every 24 seconds to a fire accident in the United States. The increasing incidence of fire is propelling the manufacturers to propel advanced flame retardant masterbatch products. Additionally, to prevent fire-related hazards, the government is focusing on implementing stringent fire safety regulations to prevent loss of life and money across several industrial applications such as construction, transportation, and automotive. These factors are expected to contribute to the growth of the global flame retardant masterbatch market during the forecast period.
Major Players Focus on Product Innovations to Amplify Their Positions:-
The global flame retardant masterbatch market is fragmented by the presence of major companies such as Clariant, Dow, and BASF SE, among others. These companies are focusing on introducing innovative flame retardant masterbatch products to cater to the increasing demand from the consumers and further strengthen their positions. The adoption of strategies such as merger and acquisition, collaboration, and partnership by key players is expected to bode well for the growth of the market in the forthcoming years.
- Clariant (Switzerland)
- Lubrizol Corporation (United States)
- LANXESS (Germany)
- ICL Group (Israel)
- Albemarle Corporation (United States)
- Dow (United States)
- BASF SE (Germany)
- Nabaltec AG (Germany)
- Akzo Nobel N.V. (Netherlands)
- Italmatch Chemicals S.p.A. (Italy)
- Kisuma Chemicals (Netherlands)
- Thor (UK)
- Huber Engineered Materials (United States)
- Other Key Players
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The Flame retardant masterbatch Market Outlook report offers an in-depth evaluation of the chemical industry and the demand drivers for chemicals by highlighting information on several aspects of the market, including drivers, trends, opportunities, and challenges. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers. These advancements will help companies to gain decisive advantage in the competitive landscape of the market. Companies are also adopting diverse strategies to stay ahead of their competitors. These strategies include: mergers and acquisitions, partnerships, collaborations, and new product developments, among others.
The information has been gathered through primary and secondary sources, comprising of interviews from several industry experts and professionals. Secondary sources such as press releases, information from recognized institutes, and other collaterals have been utilized to holistically analyze the industry. Further, top-down and bottom-up approaches have also been employed to ensure 360-degree assessment.
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What does the Report Include?
The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
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