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Flame Retardant Market Size, Revenue Growth Factors & Trends, Key Player Strategy Analysis To 2032
By: anuj kharde
The market value for flame retardant market was USD 6.84 Billion in 2022 and is expected to reach USD 10.61 Billion in 2032 and register a revenue CAGR of 5% during the forecast period. Market revenue growth is primarily driven by rising demand for flame retardant materials in the construction and automotive industries to ensure fire safety. Rising awareness regarding fire safety regulations and the need for better flame retardant materials in emerging economies is also driving revenue growth of the market.
Use of flame retardant materials in construction activities has increased due rising incidents of fire hazards caused by electrical faults and human error. Implementation of stringent regulations related to fire safety in the construction industry has led to increased use of flame retardant materials in the construction of buildings, bridges, and other infrastructure. Use of flame retardants in the construction industry has also increased due to the need for better insulation and soundproofing.(read
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