Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 525 Million | USD 721 Million | 3.8% | 2020 |
FrequentlyAsked Questions
Rise in awareness among customers about fire accidents, efficacy of flame retardants, and benefits offered by product will drive market trends. Surge in demand for cellulosic & nylon blended fibers will steer expansion of textile flame retardants industry. Increase in preference for flame retarding products in textile production will boost market demand. Fire safety is a key cause of concern for various governments across globe and this will benefit expansion of textile flame retardants industry.
According to Zion market research report, the global Textile Flame Retardants Market accrued earnings worth approximately 525 (USD Million) in 2020 and is predicted to gain revenue of about 721(USD Million) by 2028, is set to record a CAGR of nearly 3.8% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in funding of textile industry across countries such as China and India. Strict government legislations focusing on manufacture of green products has compelled industry players produce textile flame retardants using environment friendly materials, thereby embellishing regional market trends. Easy access to skilled workforce at reasonable wages and raw materials at reduced costs will expand scope of textile flame retardants market in sub-continent.
The key market participants include Toyobo Company Limited, Teijin Aramid BV, LANXNESS AG, Israel Chemicals Limited, Solvay S.A., Albemarle Corporation, Lenzing AG, Kaneka Corporation, Huntsman Corporation, Clariant International Limited, Gun Ei Chemical Industry Co, PBI Performance Products, Koninklijke Ten Cate B.V., Milliken & Company, Nabaltec AG, and E. I. du Pont de Nemours and Company.
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