Flame retardants market to reach $9.2 billion by 2027
The flame retardants market is projected to reach USD 9.2 billion by 2027, at a CAGR of 5.1 % from USD 7.2 billion in 2022 according to MarketsandMarkets. The global flame retardants market is estimated to be USD 7.2 billion in 2022 and is projected to grow at a CAGR of 5.1% during the forecast period. The growth of the market is mainly triggered by the growth of end-use industries and increasing regulations for fire safety. Growth opportunities are expected to be governed by the innovation in technology, and the development of more effective synergist compounds to boost the performance of flame retardants. In addition, the growth is largely driven by factors such as an increase in fire accidents in various industries and fire safety guidelines.
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