International. Because safety standards have increased around the world, the fire retardant sector is gaining more importance. This was assured by the research institute Ceresana Research, which estimates that the global market for this type of chemical compound will generate profits of US $ 5,800 million in 2018.
In 2010, the Asia/Pacific region was the most important in this market, accounting for approximately 41% of global demand, followed by North America and Eastern Europe.
The study emphasizes that the future development of this industry depends on legal situations and industry standards. At present, most countries are becoming more stringent with safety regulations. In addition, the state of regulations for the protection of the environment and health will influence the selection of different fire retardants in the future.
Each year, the demand for retardants with organophosphate and inorganic compounds registers an overall growth between 3.5% and 4.3% per year, which is greater than brominated and chlorinated. However, this growth varies depending on the region.
