Flame Retardant Market for Engineering Resins Market worth $2.9 billion by 2029 - Exclusive Report by MarketsandMarkets - Seite 2

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"Automotive and transportation segment is estimated to be the fastest-growing end-use industry for flame retardant market for engineering resins during the forecast period 2024 to 2029."

The automotive and transportation sector is expected to experience the highest growth rate in the flame retardant for engineering resins market between 2024 and 2029. This growth is driven by increasing demand for lightweight materials in vehicles to improve fuel efficiency and reduce emissions. Additionally, stringent safety regulations mandating fire resistance in automotive components contribute to the rising need for flame retardant additives in engineering resins. Furthermore, ongoing innovation in engineering resin formulations tailored for automotive applications further accelerates growth in this sector.

"North America was the largest region for the flame retardant market for engineering resins in 2023, in terms of value."

North America emerged as the leading region in the flame retardant for engineering resins market, primarily driven by several factors. This includes the region's strong manufacturing infrastructure and technological advancements, which facilitate the production of top-notch flame-retardant engineering resins. Moreover, stringent safety regulations across key industries like automotive, electronics, and construction propel the demand for flame-retardant materials. Additionally, North America's market dominance is reinforced by the presence of major industry players and well-established distribution networks.

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Market Players

The key market players identified in the flame retardant for engineering resins market report are Albemarle Corporation (US), LANXESS AG (Germany), BASF SE (Germany), Israel Chemicals Ltd. (Israel), Huber Engineered Materials (US), Clariant AG (Switzerland), DuPont De Nemours, Inc. (US), Nabaltec AG (Germany), Italmatch Chemicals S.p.A (Italy), RTP Company (US), and Chemische Fabrik Budenheim KG (Germany) and others.