(PRWEB UK) 16 March 2013
Global demand for flame retardants is forecast to rise 5.4 percent annually to 2.6 million metric tons in 2016. According to the report 'World Flame Retardants' advances will represent an acceleration over the 2006-2011 period, in which demand was severely impacted by the effects of a global economic slowdown, especially in the mature markets of the US, Western Europe, and Japan. In addition to an improved economic outlook, flame retardant demand through 2016 will benefit from trends toward improved fire safety and flammability standards and the rising use of plastic products over less flammable materials.
The Asia/Pacific region will continue to be the largest and fastest-growing flame retardant market through 2016, accounting for more than half of global demand. Advances will be fueled by over eight percent annual growth in the large Chinese market, rapid development in less developed countries such as India and Thailand, and solid growth for electronics producers such as South Korea and Taiwan. Gains in North America will reflect Mexico's growing importance as a producer of electronics and other consumer goods for the American markets, and the recovery of building construction in the US. Western Europe will see a rebound from the declining demand of the 2006-2011 period, although financial uncertainty will restrain growth in flame retardant outlets such as construction and motor vehicle production.
View the report: 'World Flame Retardants'